Condo or resort? Inside PEYLAA, the upcoming Phuket project that promises to let you live the moment
Life in Phuket feels like a perpetual holiday. Time seems to slow down, nature becomes a part of your daily rhythm, and the ordinary becomes anything but mundane. Simple pleasures, like sipping coffee on your balcony or taking an evening stroll along the beach, become...
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4 reasons why you should register for this Thursday’s Thaiger Flash Sale
THAI PROPERTY EVENT THIS THURSDAY Real estate experts are sounding the alarm… property prices are starting to drop! And The Thaiger Flash Sale, in conjunction with fazwaz.com is giving you the chance to own your dream home with the biggest discounts ever seen, all in one place for just 24 hours. The Thaiger Flash Sale, …
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Long road to recovery for Phuket property sector
The Vice-President of the Phuket Real Estate Association says there will be no quick bounce-back for the island’s property market, saying it will take at least 2 years for things to recover from the devastating effects of Covid-19. Speaking to Bangkok Post, Boon Yongsakul, owner of Boat Lagoon, says the fall-out has been particularly severe …
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New Normal for property developers as marketing moves online
PROPERTY EVENT “The coronavirus pandemic comes at a moment where the Thai real estate market has seen an over-supply coupled with reduced demand since 2019 due to appreciation of the baht and overall economic sentiment.” Restrictions on movement, a lack of foreigners visiting and inspecting properties, and an economic slowdown are putting pressures on Thailand’s …
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Thailand’s property market set to experience brokerage megashift
by Bill Barnett It’s clear that Thailand’s real estate sector is expected to undergo a megashift as a result of the Covid-19 pandemic and search for a ‘new normal’, if that’s even possible. That said, one of the country’s leading PropTech groups FazWaz says the crisis has only accelerated dynamic charges to the sector that …
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Phuket’s economy is more than just tourism
by Bill Barnett While Phuket’s brand and economic reality is that nearly half of its contribution to GPP (gross provincial product) comes from tourism is true, it’s important to understand that there are other generators that will aid in the island’s post-crisis recovery. The island’s real estate sector, that currently has a market value of …
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Tenants bailing out of pricey Bangkok offices amid pandemic
Bangkok’s high-end office district is looking more like a ghost town as the coronavirus pandemic seems to have many companies bailing out of their pricey office spaces. The increasing vacancy trend of Grade-A office space is expected to continue, possibly until a coronavirus vaccine is in effect, according to managing director of Phoenix Property Development and Consultancy, …
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The post-Covid-19 era: Radical changes in Bangkok’s property market
Property consultants CBRE have come up with their own evaluation of the current Bangkok office market, already getting pounded by regional trends and a high baht, now suffering another challenge – the Covid-19 coronavirus outbreak. They report that this situation will “create another split in our historical timeline – pre and post Covid-19” in Thailand. …
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Condo developers allow transfer delays for Chinese buyers, due to slowing sales
Thai property developers are sharpening their pencils on sales and allowing variations to contracts on some deals to accommodate some of the challenges posed by the coronavirus outbreak. Now some developers in Thailand have started to extend the transfer period from 3 months to 9-12 months for Chinese clients, according to Angel Real Estate Consultancy. …
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Bangkok has a surplus of 100,000 new condos as Chinese buyers stay home
Bangkok’s condominium market is facing its biggest challenge in decades with one of its key feeder markets sitting it out at home. The capital’s soaring condo market, once a favourite for Chinese investors, looks towards a bleak year with Chinese investors having other things to worry about, or simply unable to travel to Thailand, due to …
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Major condo developers in Bangkok are looking for rental clients
As sales have taken a nosedive since last year, major condominium developers in Bangkok are looking for rental clients. As an example, L.P.N. Development, which developed condominiums and houses under the Lumpini brand, is offering newly-launched condos for rent. The company plans to attract tenants by offering lower or slightly lower rents than the market …
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Tips when buying a vacation home in Thailand
by Marciano Birjmohun Imagine beachfront villas, riverfront condominiums and mountain hideaways. Vacation homes like these are often purchased for particular lifestyles and leisure activities. However, buyers may need to consider other factors to make the best buying decision. Rental management, for instance, should be considered as holiday home usage often peaks during the holidays, and …
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Forecasts for Bangkok property 2020
A supply influx of new office space is on the way while the overall retail industry faces low consumer confidence. But, in 2019, the number of Chinese tourists to Thailand has started recovering, says CBRE, an international property consultant. Bangkok Office Market The office market in Bangkok continues to perform strongly for this, but CBRE …
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Three massive condo developments along Phuket’s up-market Layan Beach
by Bill Barnett – c9hotelworks.com Two new condo developments are going ahead in the Layan Beach area of Phuket’s up-market west-coast beach strip. And there’s another one underway next to the Dream Beach Club at the northern end of the Layan beach strip. All in all, another 1,200+ keys added to the available rooms along …
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Bangkok’s vacant land owners growing fruit and vegetables to evade vacant-land tax
A loophole in land tax around Bangkok (actually everywhere in Thailand) is having an unexpected side effect, mostly good. Many vacant property owners in Bangkok are growing fruit and vegetables to escape the newly launched tax on their undeveloped land. For example, Banana trees are now growing on an expensive piece of land near Naradhiwat-Rajanagarindra …
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Why is Thailand’s PropTech market so valuable…
… and who will come out on top in the battle of the portals and hybrids, 2020 and beyond? How big is the Thailand economy? Is Thailand just for tourism? The explosive growth in the economy has now placed Thailand as the second largest economy in Southeast Asia. With over 70 million people now residing in …
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Top 10 Feng Shui master tips to re-organise your home
The ancient wisdom of Feng Shui looks at how the life energy or “qi” in the environment, like our homes, affect our life, health, relationships, and prosperity. In this article, we want to share tips that some famous Feng Shui masters, who are sought after by celebrities, tycoons, politicians, and big brands, recommend to help …
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Phuket resort owners Castlewood Group goes into liquidation
UPDATE: “The liquidation is for Singapore assets only, NOT Thai assets, the (Phuket) hotel is not being liquidated and operating as normal,” according to the Dream Phuket Hotel & Spa General Manager Chris Adams. PHOTO: Couple Travel The World The future of a Phuket resort in the booming Layan Beach/Cherngtalay area, funded by a Singapore-based property developer, …
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What it’s like to live in a resort in Thailand?
From clear crystal waters to dense lush jungles and rolling hills, iconic locations are magnets that attract travellers seeking relaxation and adventure to Thailand. But as more hotels and resorts start offering rooms or private villas, people may wonder what the perks and privileges of a perpetual holiday lifestyle may be. Bedroom views While city …
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Strong interest of foreign investors in Phuket’s resorts – JLL report
PHOTO: Dhawa Phuket “In the Asia Pacific, Phuket is one of the three hotel investment markets in the region that have been highlighted.” Buoyed by the rise of experience-driven travel and an affinity toward locally-inspired hotel offerings, resort assets remain a top target among investors. According to JLL Hotels & Hospitality’s Global Resort Report, resort …
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Thai government introduces property stimulus package
PHOTO: homeservicerayong.com “Buyers must earn no more than 100,000 baht a month and be registered on the Revenue Department’s tax database.” Thailand’s Finance Ministry spokesman Lavaron Sangsnit says that the three major housing associations are ready to support the government’s latest stimulus measures to support home purchases. There was a meeting between Ministry officials and the …
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Bangkok’s office rental hot spots
PHOTO: brandinside.asia And the winner is…? A survey carried out by Colliers International (Thailand), a global commercial real estate organisation, reveals that the highest office rent in Bangkok is at Gaysorn Tower on Ratchaprasong Road. The Nation reports that premium office space in the building is leased for 1,600 baht per square metre per month. Coming in …
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Utopia Music Festival: Dare to Dream!
On November 11, 2019, Utopia Corporation arranged the Utopia Music Festival at their condominiums in Nai Harn Beach, using a theme of superhero. The concept of ‘Dare to Dream’ showcases the outstanding and unique properties under Utopia Corporation. The music festival started with a speech from Utopia CEO Hachi Yin and Vice President Leo …
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New land tax forces land owners to evaluate their options
PHOTO: SCMP The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant taxes once the new law comes into effect. Many …
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Thai banks report strong mortgage growth despite April’s new loan regulations
Ever since the Thai government enforced the higher loan-to-value ratios on property lenders last April, borrowers and developers have been generally unhappy with the result – a sluggish new home-buyer market. But some commercial lenders, particularly some of the larger ones, have still reported strong lending growth for the first nine months of 2019. Kasikorn Bank …
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Guaranteed rental returns – Are they real?
If you’re looking to invest in overseas property, search the market and it’s not unusual to find condos for sale with guaranteed rental returns of 40%, and some even higher. Yes, it DOES seems too good to be true, but the offers are out there and the packages often come with free legal fees and …
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Tale of two cities – Hua Hin vs Pattaya
by Kornrawee Panyasuppakun Property buyers looking to buy a seaside villa or condo in a coastal town in Thailand, relatively close to Bangkok, confront one question – should I buy a property in Hua Hin or Pattaya? And rightly so, because these two choices have similar aspects. Both have kilometres of coastline, good beaches, and …
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Stricter controls and paperwork putting brakes on residential property market
The honorary president of the Thai Housing Business Association, Atip Bijanonda, is tipping the local residential market may fall by up to 10% this year starved of economic confidence, the global economic slowdown and the loan-to-value limits. But he also believes the situation is far from the situation leading up to the 1997 economic collapse. …
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Property Perfect launch promotion to boost flagging condo sales
Thailand’s property market will grow only 3 – 5% this year and the condo market is likely to end up 25% down – the executive director of Property Perfect claims it’s the the most severe situation in 10 years. The Nation reports that Wongsakorn Prasitwipat is primarily blaming the loan-to-value measures imposed by the government on …
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Bangkok land prices plateau, new tax on the way
Land prices in the Thai capital are forecast to plateau, or even drop this year. This would be the first time in more than ten years that Bangkok’s land prices have levelled off. So what is causing the sudden surge in land becoming available? Property and real estate consultants say the changes can be blamed …
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14% of condos around Bangkok are empty – good time to buy
Looking for a condo around Bangkok? Now might the right time to take the plunge with the head of the Appraisal and Estate Agents Foundation saying some areas have between 8-14% vacancy rates, some areas of Bangkok up to 17.5%. Dr Sophon Pornchokchai made the remarks at a news conference yesterday. “Adding developer price wars, …
