4/3/14

Property Business in the Three Southern Border Provinces Continues to Grow

A research study indicates that, despite unrest in the three southern border provinces, the local property business has continued to grow.
The research study was undertaken by a lecturer at the Faculty of Architecture and Planning, Thammasat University, and it was publicized by the Thailand Research Fund.

According to the study, the property business development in Yala, Pattani, and Narathiwat provinces is comparable to an alternative, or a mechanism, to reduce the level of violence and ease southern problems. In order to create confidence among investors in this business in the three predominantly Muslim provinces, all people involved, especially property business operators, need to have related business information and understand how to develop this business on a sustainable basis. 
The study, conducted between 2011 and 2012, focuses on a survey of the number and forms of housing projects, investment, marketing, and obstacles to the local property business. In the survey, government officials, employees of private companies, entrepreneurs, traders, and farmers were interviewed. Information gained from the interviews was compiled and analyzed.
The study indicates that the number of business registrations in the three southern border provinces increased by 10 percent a year on average. Yala came first in terms of domestic demand for housing, followed by Pattani and Narathiwat. As for the forms of housing, detached houses and semi-detached houses are in great demand, followed by commercial buildings and shop houses, townhouses and townhomes, and southern-style and Malay-style houses.
In choosing a location for their housing, residents in the three provinces attached great importance to their convenience in terms of transport and communications, followed by their participation in managing the housing projects, project sites, public utilities and facilities, safety, recommendations by their relatives and other people, prices, and contracts. 
According to the responses by the five groups of respondents to the survey – government officials, employees of private companies, entrepreneurs, traders, and farmers – all the groups wanted a two-story detached house most. The house should cover 248 square meters, with two or three bedrooms and one toilet.
Investment and marketing strategies implemented by most local property business operators emphasize efforts to respond to the demands of consumers. For instance, there are roads leading to the houses, waterworks, electricity, and telephone systems, primary health care services, and safety measures. After-sales service and the provision of credit from the Islamic Bank are also important factors for local residents to consider in their decision to buy a house.
The study concludes that the property business in the three southern border provinces has continued to grow. Moreover, property development will help stimulate the local economy, which will lead to the reduction of violent acts and improve the situation in the deep South.

(thailand.prd.go.th)