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Bangkok property trends continue to point upward

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Bangkok property trends continue to point upward | Thaiger

Bangkok’s property market continues to show price growth with an eight-point increase in the DDproperty Property Index from 205 to 213 in the first quarter of 2018.

A strong opening for 2018, this growth is on the back of an improving economic outlook and an expected increase in Gross Domestic Product (GDP) this year to 4.2 percent (up 0.3 percent year on year), and in part due to the rising cost of developing projects in the popular but densely built-up areas in Bangkok.

The Index increased by 213 percent over the last three years, fuelled by escalating land prices, which are in turn dictating the type of projects being built. As a result, affordable residential projects are shifting to the city fringe and suburb areas, especially along the mass transit extension lines.

“The sophistication of Bangkok’s property market is more apparent now than ever,” said Mrs. Kamolpat Swaengkit, Country Manager for DDproperty.

“As values continue to move upwards, property’s reputation as a valuable investment asset strengthens further. Developers are therefore taking note and it is no wonder that the year has welcomed joint ventures between local and foreign developers eyeing potential across the city. They have become a lot more selective on the kinds of projects they work on, with the focus on building the ‘right’ property for the location and ensuring it is suited to its target audience. We have seen a real shift in the market with this renewed attention to detail.”

INFRASTRUCTURE IS KEY
The market has also been shaped by several external factors, with infrastructure being one of the most important and the ongoing development of the country’s public transportation networks pivotal to future values.

“The government continues to inject investment into mass transit networks, opening up new corners of Bangkok and even further afield. I am sure we will continue to see a flurry of activity along these routes as investors plan to cash into the capital appreciation brought about by infrastructure growth. Nowhere is this more apparent than Chatuchak, a district that continues to lead the pack. Here our Index shows growth of 10 percent since the last quarter of 2017, and an eye-watering 80 percent over the last three years. The extension of the BTS Green Line is the primary catalyst for such rapid price appreciation,” Mrs. Kamolpat explained.

Neighbouring Din Daeng, is also one to watch showing an impressive price increase of 39 percent over one year.

APPEAL OF VERTICAL LIVING
Supply has ramped up a few notches too. The DDproperty Property Index saw an 11 percent increase in the first quarter of 2018. Developers announced new project plans at the beginning of the year with condominiums making up 89 percent of this supply. This property class has become popular among developers due to better profit opportunities, as multiple units can be packed into one plot of land unlike landed houses.

Watthana remained the district with the highest supply volume for condos, accounting for 23 percent of all condo supply, followed by Klongtoey and Ratchathewi.

Meanwhile, Lat Prao and Prawet had the highest supply of townhouses and single-detached houses respectively in the first quarter of 2018.

“At the moment, buyers have considerable choice. Developers are trying to entice them to dig into their pockets by offering attractive promotions on their properties, which keeps the market moving forward. Coupled with the existing low interest rates and the potential for capital appreciation, we do not think that oversupply will be a concern going forward,” Mrs. Kamolpat concluded.

Bangkok property trends continue to point upward | News by Thaiger

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Coronavirus (Covid-19)

No room at the inn – Bangkok hospitals turning away people seeking Covid tests

Tim Newton

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No room at the inn – Bangkok hospitals turning away people seeking Covid tests | Thaiger

Today’s drop in newly reported infections by the CCSA has dampened Thai’s desire for a Covid test in and around Bangkok. Now, many hospitals around the city are restricting the numbers of patients tested. And if you want to be tested, Thai or foreigner, you better be ready to pay for it.

Thai Enquirer is reporting that at least 3 private hospitals are not accepting new Covid patients, including BNH Hospital, Praram 9 Hospital and Paolo Hospital in Phaholyotin. But even the latter, who had received a new batch of test kits, said they will take walk-ins but only from 0800 – 1700. The cost at Paolo Hospital is 4,500 baht.

According to Thai Enquirer, the city’s public hospitals are also limiting the number of new Covid tests. Thammasat University Hospital and King Chulalongkorn Memorial Hospital are doing tests but only on who they consider ‘at-risk’ communities, and only 100 tests per day. Taksin Hospital, on the west side of the Chao Phraya, is providing free Covid testing but, again, only people they consider ‘at-risk’ patients. None of them are providing the popular drive-through services. For the majority of the hospitals charging, costs for the tests are between 4,000 – 6,000 baht, depending on the patients and their perceived risk levels.

293 new infections were detected in Bangkok over the past 24 reporting period. 210 more cases were reported from provinces directly adjacent to Bangkok. Around the country there were 1,390 new cases reported this morning, down on yesterday and Saturday’s numbers but still well in excess of the numbers being reported in Thailand’s first and second waves.

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Coronavirus (Covid-19)

Thailand provincial figures for Monday’s Covid cases

Tim Newton

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Thailand provincial figures for Monday’s Covid cases | Thaiger

The NBT has published an infographic including all the provincial data on new Covid infections over the past 24 hours in Thailand. Note that some of the data is released by the provinces one day but not reported by the CCSA as a national tally until the following day.

Bangkok, Chiang Mai and Chon Buri, again, lead the way with the latest report. The provinces around Bangkok also feature heavily with today’s numbers. 63 of the country’s 77 provinces have all reported additional cases in the past 24 hours.

The CCSA earlier reported a total of 1,390 new Covid infections today. The tally is a welcome drop in new case reports after the last 5 days’ record levels of new infections. Yesterday there were 1,767 new infections reported.

3 more people have died of Covid-related illnesses, 14,851 people remain under state supervision.

Thailand provincial figures for Monday's Covid cases | News by Thaiger

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Coronavirus (Covid-19)

Website, self-quarantine for post-Songkran Bangkok travellers

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Website, self-quarantine for post-Songkran Bangkok travellers | Thaiger
PHOTO: bkkcovid19.bangkok.go.th website to register people returning to Bangkok.

Bangkok is taking proactive steps to deal with the likely surge of Covid-19 cases after the Songkran holiday, asking those returning to Bangkok to submit their timelines online and self-quarantine 14 days. Bangkok Governor Aswin Kwanmuang is urging all people entering Bangkok to visit a website where they can perform a self-evaluation to assess their Covid-19 risk.

The website, bkkcovid19.bangkok.go.th, allows travellers returning to Bangkok to input their travel timelines and their personal information after scanning a QR code. The system will help with contact tracing, aggregating all the travel information to make following any threads of Covid-19 spread much more efficient. Health officials will be able to access and contact anyone thought to have come in contact with a Covid-19 infected person.

Songkran is usually one of the busiest travel periods of the year with millions of people going on holiday or visiting relatives. The government launches road safety campaigns to combat the swell in traffic and accidents. And even with Covid-19 cancelling most Songkran celebrations, Bangkok still saw nearly 8 million vehicles coming and going this festival period. A swell in Coronavirus infections spread throughout the country is likely as people travelled all over Thailand and back to celebrate the Thai New Year’s holiday.

Governor Aswin explained the platform is hoped to help contain possible outbreaks by providing crucial information to health officials to trace Covid-19 spread. The system will analyze infection risk for each person who registers and give them instructions on how to proceed. People deemed to be at risk will receive a free Covid-19 swab test from Bangkok health officials, while low-risk cases will be instructed to self-quarantine for 2 weeks.

SOURCE: The Pattaya Mail

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