The interview of Khao Yai Property by ModernNine TV included some questions and answers that did not make it to the final cut of the story shown on TV. One of those questions was why prices in Khao Yai are continuing up at a steady and rapid pace. There are a couple parts to the answer to that question.
First are the underlying fundamentals of the area. Because of the elevation (about 400 meters above sea level), it has much better weather all year than low lying areas. So although many people think of the beach when they think of a vacation destination or location for a weekend or retirement home, the beaches are hot and humid almost the entire year while Khao Yai is cooler and dryer making it much more comfortable. In fact, air conditioning isn’t needed much of the year. Most residents use it only during hot season. The proximity to Khao Yai National Park and the nearby areas make for clean air and expansive natural surroundings, something not to be found in developed areas and most beach resorts. And location, only two hours drive from Bangkok, make it a convenient destination for weekend get-aways or even for residents who work in Bangkok.
Those fundamentals have made Khao Yai a popular destination for many years. In the 1990’s there was a great deal of development of homes and resorts in the area. Then the financial crisis hit in 1997 and many projects were put on hold. There followed a long sleepy spell as it seemed that Khao Yai was forgotten and new development started to go where foreigners were buying. Two destinations within two hours of Bangkok saw a rapid expansion – Hua Hin and Pattaya. That continued at a hectic pace until the 2008 world wide financial crisis pulled the rug from under the foreign buying demand. That was about the time Thais began to remember Khao Yai and investment starting flowing back into the area. A few new destinations became very popular, like Primo Posto and Palio, and suddenly there was a booming new interest by a new generation of buyers who discovered the attractiveness of the area.
So the popularity of the Khao Yai area is based on the fundamentals of great weather, clean and natural surroundings, and close proximity to Bangkok. Taken together with rediscovered interest in the area and unique new developments the demand for property continues to be strong.