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Chinese investment sets new records in property purchases

The Thaiger

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Chinese investment sets new records in property purchases | The Thaiger
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The demand for property, especially in Bangkok, continues unabated. Despite a drop off in absolute tourism numbers, enquiries from Chinese real estate buyers remains strong, setting new records. Not only are the Chinese the most frequent tourists to Thailand, they are the most enthusiastic property buyers, stetting a new record for Q3 this year.

Number two in foreign investors into Thailand’s property market is Hong Kong citizens.

According to juwai.com, buyer enquiries from mainland Chinese buyers more than doubled, year-on-year and was nearly 30% higher that the previous quarter, Q2.

Juwai.com’s CEO Carrie Law says the enquiries for Thai property has never been so high.

“In part, the strong results are due to an unusual surge of inquiries in August. The overall effect has been to push inquiries in the third quarter more than twice as high as in the same quarter one year earlier.”

The success follows on from continued support from Chinese tourists, even during the Golden Week holiday. Despite lower figures than expected this year, the numbers still exceeded the 2017 visitation.

“Thailand ranks highly because of its many attractions, good links to China, relative affordability, and appeal to both group and individual travelers,” according to Carrie.

Another favorite China tourist destination, Japan, suffered a drop in number over the same Q3 period due Typhoon Trami and another earlier storm which cancelled many flights into the country.

The fallout from the Phuket boat tragedy in July seems to have affected Phuket’s tourist numbers primarily although the TAT has recently reported drop offs in Chinese visitation to Chiang Mai up to 50% in some sectors over the past month.

According to konradlega.com, the Chinese government continue to support investment in countries, like Thailand, participate in the “Belt and Road Initiative.” This type of investment is in line with China’s strategy of increasing the count of new infrastructures in its neighboring countries while encouraging cross-border trade activities in the same region.

“Though at present, only 9% of Chinese citizens have passports, it is expected that the figure will double in 2020 to 240 million people, all potential travellers and investors.”

Check out properties available around Thailand, in five languages, HERE.

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Transport

“Gold Line” monorail will bring more mass transport to the Chao Phraya west bank

Jack Burton

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“Gold Line” monorail will bring more mass transport to the Chao Phraya west bank | The Thaiger
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The construction of Thailand’s first monorail, aka. “Gold Line” in Charoen Nakhon area in Thon Buri, is causing some traffic congestion in the area. The developer, Krungthep Thanakom, is making up for lost time still hope to meet the October deadline for the new Gold Line to officially open.

The project has been delayed due to the Covid-19 outbreak and lockdowns, when the manufacturer in Anhui, China was unable to ship the first train to Bangkok in April. KT is the public investment arm of the Bangkok Metropolitan Administration, responsible for the city’s infrastructure projects.

“Now, however, the Gold Line project is back on track. The train manufacturer has shipped trains to Bangkok with the first due to arrive on Wednesday.”

KT originally expected to organise a test run in April, but even with the delays, it still expects the service to be ready for its first passengers on October 1. The system is a monorail system, unlike the existing BTS or MRT train carriages, and will have no drivers on board.

As a Covid-era project the Gold Line has a symbol of hope for recovery in the suburbs west of the Chon Phraya. The local community is looking to the new line to boost to the area’s businesses, battered by months of enforced closures.

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The Gold Line is a new people mover line, not part of the current MRT Master Plan. The line was proposed in July 2015 and approved by the cabinet in 2016. The first phase is expected to open in October 2020, with another phase opening in 2023. It will connect Krung Thonburi BTS station with Prajadhipok Road in Thon Buri District, a total of 2.68 kilometres.

Development of the line is the responsibility of the Bangkok Metropolitan Administration, with a budget of 3.8 billion baht. The environmental impact assessment was completed in December 2016.

The Innovia APM is a rubber-tired automated (as in ‘driver-less’) people mover system manufactured by Bombardier Transportation. The APM technology was originally developed by Westinghouse, then owned by Adtranz, and most recently acquired by Bombardier in 2001.

Charoen Nakhon Road, in the Klong San district, is a new addition to Bangkok’s list of hotspots. Most resident of Bangkok hadn’t even heard about the area until the arrival of the swish Iconsiam mega-mall. Since Iconsiam’s opening the area has started to attract a more trendy clientele, shopping and residential options.

The neighbourhood was once home to many public servants, markets and warehouses. It certainly wasn’t considered ‘fashionable’ or a place upwardly mobile Bangkokians wanted to live. The name ‘Klong San’ was chosen by Phraya Yisan, an elite civil servant who was appointed to develop canals in the area.

The district was the location of one of the first hospitals in the country, the Thonburi Hospital, originally constructed over a century ago during the reign of King Rama V, to treat plague patients.

SOURCE: Bangkok Post

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Transport

4 new BTS stations open, free until the end of the year

The Thaiger

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4 new BTS stations open, free until the end of the year | The Thaiger

The BTS Skytrain is as ubiquitous in Bangkok as great street food and fake Viagra, and it’s now added 4 new stops to extend its reach. The new BTS Green Line extension, running fro Mor Chit station and Khu Khot station in Rangsit, opened to the public today. The new extension was officially launched by PM Prayut Chan-o-cha this morning, and opened to commuters from 1:30pm.

The 4 new stations are: Royal Forest Department, Bang Sua, 11th Infantry Regiment and Wat Phra Sri Mahathat. In a trip that took 11 minutes, the PM travelled from Ha Yaek Lat Phrao station (on Phahon Yothin Road, before the four new stations) to the end of the line at Wat Phra Sri Mahat.

The extension of the northern service covers 4.2 kilometres, and travel on the new section is free until the end of the year. Whoo Hoo!

4 new BTS stations open, free until the end of the year | News by The Thaiger

The system now comprises 47 stations along two lines: the Sukhumvit Line running northwards and eastwards, and the Silom Line which serves Silom and Sathorn Roads, the central business district of Bangkok, terminating at National Stadium and Bang Wa.

4 new BTS stations open, free until the end of the year | News by The Thaiger

SOURCE: Bangkok Post

 

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Coronavirus (Covid-19)

Lumpini boxing stadium officials side-lined over Covid-19 cluster

Maya Taylor

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Lumpini boxing stadium officials side-lined over Covid-19 cluster | The Thaiger
PHOTO: Khaosod English

A report in Nation Thailand says that Thailand’s army chief Apirat Kongsompong has ordered the transfer of all committee members at the Lumpini Boxing Stadium in Bangkok. The dressing down and side-lining of the officials comes after the committee went ahead with a boxing match at the stadium on March 6, two days after the government ordered such venues to close, as part of the Covid-19 lockdown measures.

The stadium is owned and operated by the Royal Thai Army.

The stadium was later found to be a hotbed for the virus, generating a cluster of hundreds of infectionsthat spread beyond Bangkok and into other provinces. A subsequent inspection has revealed serious problems with the venue’s hygiene and disease prevention measures.

Army Chief Apirat Kongsompong is ordering the transfer of all committee members, having already transferred the manager, Rachit Arunrungsee, who is reportedly set to retire in September.

SOURCE: Nation Thailand

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