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Jitradee Poolvoralaks says real estate is still the best place for your baht.
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You got land, you're okay
By Kupluthai Pungkanon
Daily Xpress
Published on December 1, 2008
Jitradee Poolvoralaks says real estate is still the best place for your baht
The economy's meltdown isn't going to dissuade Jitradee Poolvoralaks in her belief that property is still the best long-term investment. The executive vice president of Major Development recently opened Royce Private Residences, an ultra-luxurious 160-unit condominium on Soi Sukhumvit 31. Prices there start at Bt15 million. "Even with inflation, the banks willing to guarantee no more than Bt1 million and the stock market fluctuations, you're never going to regret an investment in real estate," Jitradee says. "The return value is still very high, especially if you have a good location and a trustworthy developer." Jitradee - who's worked on 11 high-end condominium on Sukhumvit, Silom and Sathorn roads, as well as in Hua Hin - says the property market has changed significantly since the Asian economic crisis a decade ago. And so have lifestyles, notes the mother of two young girls. "People don't want to waste time in traffic commuting to work. They realise that life isn't just about going to work - it's about spending time with the family. "Urban people already have harsh, competitive lives. If they can save an hour or two to spend with their children, that's so much more meaningful than having breakfast in the car." People who can afford it tend to have single-family houses outside the city for the weekends and stay in a condo in town during the week, which they can always rent. But if they opt to buy a unit at Royce, it's about Bt160,000 per square metre, and, after initial deductions, they'll pay around Bt70,000 a month for a Bt15-million unit. The design concept is "Royal Victorian Contemporary", with a large, English-style courtyard included in the overall 6,000-square-metre lot. There are two towers with individual lifts, the units having oversize master bedrooms and living rooms, and built-in furnishings.
XTRA Here you go
>> Select a prime location, close to a main road or business district, certainly downtown. >> Invest in a trusty developer who can guarantee high-quality construction, maintenance and services. >> Keep an eye on realty pre-sales, when the price is best.
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