About one-third of the leading business investors in the neighbouring Lao People’s Democratic Republic (Lao PDR) are interested in buying properties in Thailand, according to a survey by Thailand’s Agency for Real Estate Affairs (AREA).
AREA president Sopon Pornchokchai said the survey was conducted among 150 leading Lao businessmen who attended a seminar on property investment.
According to the survey, an overwhelming majority — 87 per cent — of the businessmen polled agreed that the Lao economy is more robust today compared to the same period last year, while the remainder believed that their country’s economy this year is only slightly better.
About a quarter of the Lao business attendees said they are interested in buying real estate in Thailand, one-fifth said they had no interest, and the rest have only fair interest.
Almost half of the Lao investors (43 per cent) would choose to buy a condominium in
The resort town of
Meanwhile, 47 per cent of the Lao businessmen viewed that investment should be focused on land for further development, whereas investments in condominiums, shopping malls, and industrial estate should follow.
Currently, there are no condominiums available in the Lao PDR.
These businessmen added their government should have a clear policy on foreign investment while providing opportunities for foreigners to invest more in the country. It should also lower fees for land transfer, which is currently as high as 15-40 per cent, and should develop basic infrastructure such as roads, as well as create bigger loan system or a money market for housing systems.