Workers in Japan has increased the demand for condominiums

A property expert has revealed that more Japanese workers have moved to Thailand, after the East Asian nation has been suffering from bad economy, resulting in rising demand for condominium in Bangkok.

According to Keisuke Tanaka Managing Director of Homes Property Media (Thailand) Co, operator of the Thai property portal www.homesthailand.co.th, over the past two years, many fresh Japanese graduates have found it difficult to find jobs in Japan. As a result, many of them decided to work abroad and Thailand was the number-one destination, reasoning that Thai laws permit them to work easily and the cost of living is also lower.

Mr Tanaka said new Japanese communities have been seen in Bangna and Ladprao, and no longer limited to just areas around Sukhumvit as before. He explained that condominium units in Bangna and Ladprao are cheaper, at around 1.5-2.5 million baht, while those in Sukhumvit are priced at around 3-5 million baht.

According to Homes Property Media, around 80,000 Japanese reside in Thailand. Out of this, 20,000 are living close to Ayutthaya’s industrial estates, while 60,000 are in Bangkok. Thailand houses the most number of Japanese workers; around 20,000 of them work in Indonesia and around 10,000 are in Beijing and Shanghai.