Being ahead of the curve, and ahead of other Thailand property buyers and investors who are also looking for the next Bangkok property hotspot, is a difficult thing to achieve.
Once you hear an area has been tagged as the next property hotspot it’s already too late.
So, how do you define a property hotspot?
Basically, it’s an area that has the potential to outperform other areas and achieve decent capital gains and increasing rental returns.
Looking at Bangkok, you can immediately rule out anywhere within a 30-minute mass-transit commute from Siam, the central BTS skytrain interchange station.
Places like Rama 9, Ekkamai, On Nut, Bearing, Ari and Krung Thonburi have all been reported as being Bangkok property hotspots in recent years, so if the aim of buying Thailand property is capital gains these are not areas to seriously consider.
While property prices in these locations may rise, or indeed fall, there will be better options for capital gains.
If you think of the whole of the Greater Bangkok Metropolitan region as a lake and drop a stone into the centre, the ripple will extend to the fringe areas of the city and ones that will, over time, see more price growth.
These areas will be more affordable compared with the centre of Bangkok, and over time will benefit from a greater degree of infrastructure development.
Here’s a thought. If you think one area has the potential to be the next Bangkok property hotspot, look to the next location further from the city.
For example, many Thailand property investors are looking around Bang Sue Grand Central Station, and what will be the largest railway station in Southeast Asia.
When completed in late 2020 it will be a significant draw for many, and while property developments within one or two miles are already springing up it might just be worth looking a little beyond the immediate vicinity for the next potential Bangkok property hotspot.
This location may not have seen major attention, yet. but it could have many of the same characteristics as your chosen location.
Buying instinct is, more often than not, to search for more affordable areas. Your mission is to identify these up-and-coming areas before anyone else.
The lack of decent research makes this a difficult task, but not an impossible one. Read news, especially as it relates to infrastructure developments. Look at commercial and retail property developments because they could be important for any future property hotspot.