We haven’t quite finished our adventure to Sriracha yet. We have unfinished business to attend to so to speak. The truth is that I don’t fully understand why Sriracha appears to be having a property boom at the moment. Sriracha’s hospitality industry is also booming and again I have some unanswered questions related to that.
I am trying to get to the bottom of things, trying to understand the dynamics of a city that is changing. There must be something that has triggered all this. Is it possible it could it be a property boom without substance? Let’s take a look at things and see if we can find some answers. It is not healthy to have a debate with only one participant but apparently these are the conditions.
Sriracha is not considered a holiday destination in the same way that Pattaya is. It is not a weekend getaway city, it is not on the list of cities for people wishing to escape Bangkok for a few days.
Most, if not all condominiums, are aimed at a Japanese clientele. They are condominiums with onsen, a Japanese style spa, and other features appealing to Japanese nationals. Of course there are these industrial estates in the neighbourhood, we all know that. There are probably a large number of Japanese companies. This accounts for a number of Japanese executives but we have to assume that the majority of workers at these industrial estates are thai nationals.
This leads to the next question: Just how many Japanese executives are living in Sriracha? It can’t be that many but let’s for simplicity reasons say there are 2000 executives. Well, the number of new serviced apartments and the number of units in recently launched condominium projects exceed that number by far.
More interestingly, we have to assume that these Japanese nationals have been living in Sriracha for a while, they did not just suddenly arrive out of nowhere. So why is the city changing now, why not 5 or 10 years ago? What happened, what exactly triggered the events that are currently taking place?
Another interesting question: Why would a large number of Japanese expats suddenly want to buy a condominium instead of living in a serviced apartment as they have done in the past?
Have new industrial estates been established recently? Has the number of Japanese executives increased recently? What about the number of Japanese retirees, just how many retired Japanese expats are currently living in Sriracha?
Is it a good idea for a developer to enter the property and hospitality market in Sriracha? Is the market saturated or can we expect further growth?
I have to be honest here. I have raised a lot of questions but not provided adequate answers. I hate to admit that I don’t fully understand the reasons for what is happening in Sriracha. I don’t know what is currently driving the growth in Sriracha. I know that the surrounding industrial estates and Japanese companies in particular play an important role. But why now, why not 5 years ago?
Here is a list of new projects in Sriracha:
• The Sky 2 Laem Chabang
• The Sun Condo
• G Condo Sriracha
• Home Condo Sriracha
• Kensington Laemchabang Sriracha
• Notting Hill Sriracha
• Sea Hill Condo Sriracha
• Knightsbridge The Ocean Sriracha
• The Point Condo Laemchabang
• Supalai Vista Sriracha Laemchabang
• 123 Residence Sriracha
• Atara Hotel Sriracha
• Casa Condo Sriracha
• Citi Resort Sriracha
• Ladda Plus Condominium Sriracha
• Marina Bayfront Sriracha Condominium
• Nusa Sriracha Condominium
• Novotel Sriracha Marina Bay
• Zen City Condominium
• The Time Condominium
New community malls:
Published 25 October 2015