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Thai baht hits highest level against the USD in six years

The Thaiger & The Nation

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Thai baht hits highest level against the USD in six years | The Thaiger
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The baht finished in spectacular fashion after a year as one of the world’s most stable currencies, when it reached 30.15 baht against the US$, its highest level in six years. Kasikornbank Bank is forecasting that the Thai baht could move into a range of 30-30.30 baht to the dollar this week (up to January 3).

Investors have been selling USD after US economic data showed signs of disappointments such as weaker-than-expected orders for durable goods and lower new-home sales, finishing off a patchy year in a jittery US economy. The baht was up 8% over this year after a 2018 closing price of 32.55 baht to the US$.

The Thai baht’s appreciation has been driven by the Thailand’s strong current account surplus and investor sentiment that the baht has been a ‘safe-haven’ currency. But the baht’s strength has been challenging for the local economy, driving exports down and pushing up prices for tourist spending ppower.

Thai exporters have complained that the baht’s appreciation is hurting exports: recently Japanese car manufacturers Mazda said it might have to move a part of its car making back to Japan from its Thai factories due to the impact of the strong baht.

The market will be closely watching the Bank of Thailand’s economic report for November, which is due to be released on Monday, as well as December’s inflation rate.

Meanwhile, key US economic data out this week include the US purchasing managers index, December consumer confidence index, home-purchase contracts, home price index and jobless benefits claims.

SOURCE: The Nation

Thai baht hits highest level against the USD in six years | News by The Thaiger

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Thai Airways considers leasing planes and outsourcing cabin staff

The Thaiger

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Thai Airways considers leasing planes and outsourcing cabin staff | The Thaiger
PHOTO: Will Thai Airways lease or buy their new planes?

In its attempts to restructure the legacy national airline, senior staff of Thai Airways may lease aircraft and cabin staff. The plans are part of fleet and service improvement options as demanded by the Thai Government who had to find 11.1 billion baht over the first 9 months of 2019 to keep the national airline in the skies.

According to Thai Transport Minister Saksayam Chidchob, Thai Airways plans to invest in 38 planes with a 156 billion baht budget. Whether the new aircraft carrying the purple decal will be bought or leased is yet to be decided.

Minister Saksayam has openly proffered the options of leasing the planes with an outsourced cabin staff or just leasing the planes. The minister has given Thai executives the rest of the year to make up their mind in their restructure plans.

The Transport Minister also chairs the Civil Aviation Commission.

Thai Airways president Sumeth Damrongchaitham says that all aspects are being considered, which needs to take into account the airlines’ flight network and which aircraft models will best serve the airline’s financial makeover.

Short-haul models are currently in short supply with the new Boeing 737 Max grounded until at least the middle of the year, potentially longer, and a years-long waiting list for the Airbus single-aisle equivalent, the A320 Neo models. Last year Airbus also showcased their new A220 model to Thai Airway’s executives as a brand new approach to short haul routes with a capacity of 108-130 passengers and ability to fly equal or longer distances than the Boeing 737 or Airbus 320 models, in a 2+3 configuration, rather than the 3+3 of the existing models.

17 of the Thai Airways’ 82 aircraft are due to be decommissioned from the end of this year.

SOURCE: Bangkok Post

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Online grocery shopping gains popularity in Thailand

The Thaiger

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Online grocery shopping gains popularity in Thailand | The Thaiger
PHOTO: Buying your groceries online is becoming a 'thing' in Thailand - Food Navigator-Asia

Squeezing the avocados and smelling the mangoes may become a thing of the past as online grocery buying is quickly growing in popularity.

The intense competition in online grocery sales is expected to surge in 2020. Online Apps like Line, Grab and Lazada are making major inroads into the Thai grocery market valued around 30 billion baht. Pushing the growth is the ‘stay at home’ phenomenon where people try and avoid air pollution, traffic, no plastic bags to conveniently carry any groceries and the free delivery offered by the online shopping providers.

Lazada and Grab have already launched their grocery shopping services, LazMart and GrabFresh. Now Line Man, a subsidiary of Line Thailand, has announced it will partner with HappyFresh, to offer online grocery services. In all cases the shoppers can “scroll through the aisles” online rather than physically walking around a supermarket, select their produce, pay for it and have it delivered – in some cases for free.

Online grocery accounts for 3% of the whole grocery market in Thailand and is expected to rise to 5% in the next two years and 10% by 2025. HappyFresh say they’ve identified their principal market as 25-40 year olds spending an average of 1,200 baht per purchase.

The chief strategic officer of Line Thailand, Jayden Kang, speaking for Line Man, says the next two years are key to Thai customers learning how to leverage online grocery shopping into their busy lives.

“Online grocery is still nascent in Thailand and the main customers now are expats, white collar workers and condominium residents as well as housewives,” as quoted in Bangkok Post.

“With free delivery and urbanisation, the customer base is expected to broaden.”

Line Man already has 3 million active users ordering meals through the current services along with 100,000 restaurant partners for food deliveries.

SOURCE: Bangkok Post

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10 proven tips to sell your property quickly in Thailand

The Thaiger

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10 proven tips to sell your property quickly in Thailand | The Thaiger
PHOTO: There's a lot of things you can do to sell your property faster - bookings.com

Selling property can be a headache, especially when you sell in an unfamiliar market like Thailand. However, it doesn’t have to be like that. There are several fool-proof ways we have gathered from experienced agents at Fazwaz Property Group in Thailand to help you increase your viewings and sell your property faster.

1. Have the right attitude

Thailand is a buyer’s market, not a seller’s market. There’s more supply than demand and buyers have plenty of choices when it comes to buying property. Consequently, properties that are overpriced are very hard to sell, said Bangkok-based property consultant Praveen PalSingh.

2. Be a detective and offer the right price

This is the most important point. Search around the property and see what prices per square meter other villas or condos in the building, or in that area, are selling for, said Bangkok property consultant, Anjana Arora.

You can look at online listings or use tools like interactive maps featured at Fazwaz.com to find the average price per sq m in your building or in your area.

“Make a property comparison on Fazwaz by circling other properties in the area to see what they are priced for and if your property is priced according to the market and location,” added Hua Hin sales director Stephen Van der Merwe. For example, this is an interactive map showing condominiums in Asoke area, Bangkok where Fazwaz’s head office is located.

3. List your property online

Sakunee Meethong from Hua Hin said it is a good idea to list your property on online property websites. These websites have a wider reach and provide more exposure than hanging a ‘For Sale’ sign in front of your house.

4. Use high-quality photos

Attractive photos attract clients. Ask yourself if you have updated and high-quality photos for your property, said Hua Hin sales director Stephen Van der Merwe. “If the property looks good online, it will attract more attention.”

5. Make your offer stand out

The best way to sell a property fast is to set the price below the market price or “make the unit stand out from other similar units for sale,” said Praveen PalSingh. This includes nicer views and better furniture and appliances, he said.

6. Highlight location

Don’t forget to highlight the location and nearby amenities, advised Chayanin Chumphukham, who specializes in the Chiang Mai market. Nearby schools, universities, parks, restaurants, hospitals, shopping malls, 7-elevens, highways, as well as famous attractions are something you should add to the description.

7. Be flexible with viewing hours

Chayanin recommends sellers to offer flexible viewing hours, which can increase viewings and the chance of selling your property. It’s a good idea to say yes to every showing request.

8. Work with experienced agents

You can sell your house faster if you work with more experienced agents. Luke Murray, a property consultant, encourages sellers to work with a real estate agent or company that knows how to market and target the right buyers. “Advice for homeowners would be to find an active agent that you trust and can work closely with. Choosing agents that work with larger companies often gives the unit more exposure,” he added.

“Speak to your Fazwaz agent about exclusive listings – we offer excellent exposure to all of our exclusive listings. This strategy has proven to be effective at increasing viewings,” added Hua Hin sales director Stephen Van der Merwe.

9. Reduce the price

Ultimately, the key factor to selling fast is the price. In markets that are very price sensitive, only projects that are popular and are in good locations still hold their prices. The rest needs to be competitively priced, said Pattaya Sales Director John Lees-Whitehead.

“We recommend that the owner reduces the asking price, this will automatically rank higher on our website and all of our marketing channels.”

10. Be patient and honest

The Thai property market can be different from the market in your country and there is no magic trick, said Bangkok-based consultant Maxime Lienard. It is not unusual for property in Thailand to remain unsold for a year, depending on the market conditions. We don’t have any control over the market, but you can control your property; he recommended sellers to be honest with their information, post flattering photos, fix any issues before potential clients point them out, and make the property ready to buy as soon as possible.

These are 10 tips real estate experts around Thailand want to tell you, so you can attract more potential buyers and sell your property in a short space of time when you list your property for sale.

10 proven tips to sell your property quickly in Thailand | News by The Thaiger

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