PHOTO: Thai PBS

A new route has been launched today between Bang Wa (Khlong Phasi Charoen) and Tha Chang (Chao Phraya River). The route has been announced by the Bangkok Metropolitan Administration (BMA) and the Marine Department for a 6 month trial.

The boat service will be free of charge during its 6 month trial run and aims at providing new alternatives  for daily commuters. The new boat service is a part of PM Prayut Chan-o-cha’s initiative “Lor Rang, Reu” (Wheels, Tracks, Boats).

Thai PBS reports that four routes are not currently being serviced by private firms – the route between Bang Wa and Tha Chang piers, Hua Lampong and Devarajakunchorn temple piers, Sri Boonruang Temple and Paseo piers and the route between Bang Wa and Kamphaeng Temple piers.

The new ferry route starts at Bang Wa pier, near the BTS Bang Wa station, runs along Phasi Charoen canal, Bangkok Yai canal and into the Chao Phraya River. The boat stops at four piers – Intharam temple, Phra Phuttha Yodfa Bridge, Rajini and Tha Chang.

The service is available daily from 6-9am at 30 minute intervals and from 9am-7pm at 60 minute intervals.

SOURCE: Thai PBS

PHOTO: The Nation

Authorities have intercepted a container carrying a tonne 11,000 kilograms) of crystal methamphetamine (ice) with a street value estimated around 2 billion baht, before it could leave the country.

Police also announced the arrest of suspects involved in the drug haul as Chinese nationals 24 year old Huang Guoxion and 44 year old Zhou Qingchu, along with Thais 57 year old Suban Manachanon and 62 year old Joi sae Fong.

The two Thais and Huang were arrested at a container yard in Chon Buri’s Sri Racha district on Saturday, while Zhou was tracked down to his condo in Bangkok’s Huai Kwang district.

The container was found stuffed with 612 boxes, 34 of which were filled with the drug disguised to look like tea bags, while the remaining boxes carried shoes.

The four suspects have been charged with having traffickable quantities of narcotics in their possession with intent to sell and have been handed over to the Narcotics Suppression Division for legal action.

This crackdown is part of the authorities’ efforts to tackle drug problems. At present, most prisons in the country house inmates held on drugrelated charges.

SOURCE: The Nation

Chinese condo buyers are veering their purchase power away from the Bangkok property market citing the strong Thai currency, overpricing and a supply glut.

• 2015 – 5.8 Yuan to the Thai Baht
• 2019 – 4.4 Yuan to the Thai Baht

The rise of the baht and the weakening of the Chinese Yuan over the past four years, have culminated in a 25% softening in Chinese investment power in the Thai property market (chart from xe.com)

Property consultants say that Chinese buyers are now containing their investment risk by buying into the lower-end 2-6 million baht condo market instead of the 5-10 million baht condos they were previously purchasing.

At the same time the annual returns for Bangkok condominiums is reported to have dropped from 6-7% five years ago to only 3-4% in some locations in the current market.

Speaking to the Bangkok Post, Simon Lee, President of property brokerage Angel Real Estate Consultancy, says overall sales volume of Bangkok condos bought by Chinese buyers will shrink by half in 2019.

He also notes that the current Thai government crackdown on investors renting out condos on daily or weekly leases, has scared a lot of new investment into the sector away  as the ‘law’ appears to be applied in a haphazard manner.

The Chinese investors are also expressing disappointment when they buy into a development at one cost, only to find that locals pick up the balance of the stock at a lower price as the developers clears the stock.

Bangkok’s soaring land prices, which should see the value of condos rise, is being balanced out with the sheer glut of stock available, pushing down values. Rental returns are also being pushed down by the volume of stock available to the rental market.

SOURCE: Bangkok Post

Here’s another report about signs of weakness emerging in the Bangkok condo market from The Thaiger.