An in-depth special focus on Asian real estate hot spots, as well as key interviews with important industry figures and analysis
In Depth: Chiang Mai: Chiang Mai a market on the move
May 25, 2012
By Andrew Bond
Often referred to as Thailand’s second city, Chiang Mai is located a little far from Bangkok to play second fiddle as a commercial or residential hub.
Chiang Mai has actually weathered the recession much better than other Thailand property markets that attract significant amounts of foreign money, because it has a robust local sector and its potential for growth and property investments cannot be ignored.
Towards the end of 2011, two events had a significant impact on the Chiang Mai property market. The first was the return to power of a Shinawatra government, well known for favouring their hometown in development policy. The other was the disastrous flooding in Bangkok, which encouraged many to ‘look North’.