The country senior partner of Buriram Isaan Property, Ms. Nurak Panyapim, confirmed this week to the Buriram Times that property prices in Buriram have for the first time in the past 6 years leveled out after the recent boom.
Due to the massive development of several new housing estates over the last few years which local Thai nationals prefer to buy, this has in turn affected the re-sale properties which have taken a hit and vendors have had to reduce prices to try and secure a sale for their properties.
Buriram Isaan Properties currently have over 300 property listings including around 150 new properties and in addition Farms, Land, Resale Properties, Hotels, Apartments, Bars, Restaurants, and Businesses available in the Buriram region.
Properties that are realistically priced are still selling, in particular land. The local “Land Office” confirmed that the number of transactions taking place each month is still stable with prices slightly lower than last year.
he global economy and currency exchange rates also have a bearing on the local property market for ex-pat buyers. However in Buriram, the market is still dominated by local and Bangkok investors. The area is still benefiting from significant government investment for infrastructure together with the huge impact made by the Chang International Race Circuit, Buriram United Football Club and all the new Shopping Malls that have recently opened in the City.
Buriram Isaan Property confirmed that investors are pleased that there is now more stability in the Buriram property market and are keen to invest in this area as Isaan is still regarded as Thailand’s most favored investment region.