Phuket real estate expands to inland areas
Phuket’s real estate market has experienced unprecedented growth over the past few years, driven primarily by the strong recovery of tourism following the Covid-19 pandemic. Another hugely important factor contributing to this market buoyancy has been the increase in Russian investors, who led the way...
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Amnesty program for unlicensed Thai hotels finishes September 9
PHOTO: We needed a photo of a small hotel. So this is The Small Hotel in Krabi (already licensed!!) The Thai government has issued guidelines for unlicensed hotels under their amnesty program. Hotels must submit applications and complete improvements before September 9, so time is of the essence. Baker McKenzie Thailand has outlined the process and …
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Chewathai launches seven new property projects in Bangkok despite slowdown
Listed property firm Chewathai says they are revising down their revenue target for this year from 2.8 billion to 1.6 billion baht after demand for residential projects has shown a slowing down in the first half of 2019. The company’s managing director Boon Choon Kiet made the announcement yesterday. Boon says Chewathai’s total revenue of …
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Lower demand but Thailand is still China’s favourite international property market
The Yuan has dropped in value against the Thai baht and China remains in the midst of a long-running trade spat with the US. But, still, the Chinese investors are still buying up Thailand property although not at the same rate as they did last year. But juwai.com, specialising in Chinese real estate, predicts further …
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Laguna Phuket launch entry-level condos
Laguna Phuket has launched a new entry-level condominium project named SkyPark. Pre-launch pricing ranges from 2.9 to 4.3 million baht for fully furnished units. The SkyPark development has three condominium blocks of approximately 140 units each, so 420 units in all. Unit types start at studios (28 square metres), one-bedroom (30-39 square metres) and two-bedroom (40-60 …
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Ananda development pulls the plug on Bangkok condo project
Property developers Ananda Development have pulled the plug on the development of a condo project, Ideo Q Phahon-Saphankhwai, valued at 10 billion baht, and will refund down-payments made by customers who booked units since the April launch. Ananda Development’s chief strategy officer Sumeth Ratanasrikul says that the demand to buy the project at that location didn’t match …
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Bangkok’s expat rental trends changing
The number of Japanese expats in Thailand dropped to lower than 20% of the total expats in Thailand for the first time, dropping to 34,133 as of April 2019, a 4% decline year on year, according to CBRE. CBRE are reporting a change in demand and an impact on the rental apartment sector in Bangkok, …
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Co-working spaces in Bangkok are re-shaping small to medium business office options
PHOTO: The Great Room Co-working spaces are opening up around Bangkok and providing a more flexible framework for businesses to grow. Advances in technology, a more mobile workforce, and unpredictable economic growth are reshaping the business environment. In the Bangkok office market, a traditional three-year lease with options to renew and the tenant fitting out the …
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Residential projects launched in June up, but sale 15% lower than May
As many as 47 new residential projects were launched in Bangkok and its suburbs last month (June), 16 more than in May. This from the Agency for Real-Estate Affairs. The projects combine 13,943 units worth a total of 57.25 billion baht, with per-unit prices averaging at 4.1 million baht, the survey added. The sale of …
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Property developer confidence takes a dive in second quarter 2019
A measurement of real estate developer confidence for the Q2 2019 (April to June) has dropped to 42.2 points from 50.4 points for Q1 2019 (January to March). Thai PBS reports that the second quarter confidence index has fallen below the 50 point median index, reflecting developers’ declining confidence in the economic situation and investment …
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A drop in demand leaves Bangkok with a glut of completed new condos
A parliament of owls? A murder of crows? A flock of geese? But what’s the collective noun for a lot of available new condo developments in Bangkok? A glut of Condos? As Thailand’s economy is hit by the double whammy of fallout from US-China trade wars and lingering political instability, stricter mortgage-lending rules are also kicking in …
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Luxury condos change the face of Sathorn Road in Bangkok
by Somluck Srimalee, The Nation From Sathorn junction to Taksin Bridge, the riverside section of Sathorn Road has been transformed from a strip of shophouses to luxury residential condos in a gentrification that added 8,000 new apartments to the area. As well, the businesses have shifted to a more modern trade to replace the traditional trades. …
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Chinese move their purchase power away from Bangkok condo market
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 …
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Thai PM acts on illegal and unlicensed hotels and accommodation
Owners of shop-houses, rented properties, even entire floors of condos – running them as defacto hotels – are about to get the Article 44 treatment. The PM, acting in his capacity as the head of the NCPO (in the days before it is dissolved), says he will bring an estimated 20,000 illegal hotels and accommodations …
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Risland plans new developments in Bangkok and Phuket
PHOTO: Artist impression of the new Cloud Thonglor-Phetchaburi Hong Kong-based property developers Risland Thailand say they will spend 8 billion baht launching five residential projects in Bangkok and Phuket. The investment budget of 8 billion baht is an increase from 5 billion in 2018 and 3 billion in 2017, the first year Risland operated in …
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Tourist Police raid the C Ekkamai condo to arrest people running rooms as ‘hotel’ – Bangkok
PHOTO: Thai Tourist Police Bureau page on Facebook Follow up to a story last week where residents of a condo tower in Bangkok were complaining that many of the rooms were being run as a quasi-hotel. The Thai Tourist Police Bureau sent 40 officialst to the luxury Bangkok condominium. The raid was actually last Thursday, …
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Boat Pattana’s Cherng Talay villa project reports strong pre-sales
Thai developer Boon Yongsakul’s latest development Shambala Grand Villa in Cherng Talay is experiencing strong pre-launch sales. With 22 available units, the Boat Pattana group has already reserved 17 units. The landed properties feature two bedroom pool villas with land plots ranging from 300 to 600 square metres. Property management is through an affiliated company and buyers …
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Chinese owners using condo investments as a ‘hotel’
PHOTO: Thai Rath Residents in condos around the country are getting sick of the parade of short-stay travellers using their condo rooms as defacto hotel rooms, travellers renting out their rooms from Chinese owners who run their investments as quasi hotel rooms. Thai Rath reports that “Condo C Ekkamai” (Sukhumvit Soi 63) tenants are at …
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Condo residents want action as foreigners flaunt rules on daily rentals
PHOTO: Manager Online The ongoing issue of condos and rooms being rented out as daily and weekly rentals, illegally, is making headlines again. A group of tenants went to the media complaining that they discovered owners of apartment rooms in their ‘luxury condo’ on Rama IV were contravening condominium rules and sub-letting their rooms. A …
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Off-the-beaten-track destinations in Thailand experiencing explosive Airbnb growth
PHOTO: Rawai, had Airbnb growth of 92 over the past year Off-the-beaten-track destinations in Thailand grew by 53% year-on-year, with some areas like Rawai in Phuket growing by more than 92% year-on-year. Airbnb hosts outside of big cities and major tourist destinations in APAC earned nearly US$1bn through the Airbnb platform in 2018. 12 million …
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Wyndham to manage new condo at Layan Beach Phuket
by Bill Barnett A new Wyndham managed condominium hotel is rising in the Layan Beach area of Phuket. Named the Laya Resort Phuket, the first phase of the project is 300 units of studio and one-bedroom configuration. The new development will be situated about 400 metres from Layan Beach. Pricing starts from 150,000 baht a …
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MGallery brand partners with MontAzure in Phuket
Kamala’s MontAzure “integrated development” along the northern stretch of Kamala Beach, is rolling out a 236 unit hotel branded residences project. The MGallery Residences, MontAzure Lakeside, features both studio and one bedroom units. The development is located in the foothills on the inland side of the beach road. Initial pricing points generally run from 7.2 …
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Chinese continue to soak up Thailand’s condo glut
There are man reasons why Thailand is a favourite location for property buyers from Hong Kong and mainland China – the street food and great weather are just a part of the allure. Chinese nationals spent a record 40 billion baht (US$1.25 billion) on Thai properties in 2018, according to the Bank of Thailand. So …
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Leaning Tower of Sathorn: not cracked or leaning says Sathorn district chief
PHOTO: Daily News The district chief in Bangkok’s swish Sathorn district has been forced to come out publicly declaring a luxury 72 story condominium development under construction in her area was neither cracked nor leaning. The false claims were made in social media after a minor fire in the building’s basement. Daily News reports that …
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Kra Canal – the 28 Billion Baht shortcut
By Jintana Panyaarvudh Despite a history going back three centuries, the highly controversial and politically sensitive proposed Kra Canal mega-project in southern Thailand is once again up for debate. At a forum held yesterday by Rangsit University entitled the “Stakeholders in Kra Canal@Klong Thai”, national security and the canal’s impact on tourism were among the …
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Thai property startup FazWaz heads overseas
FazWaz, the Phuket startup that has built a tech-first platform to take on Thailand’s real estate giants, is announcing its overseas expansion today. The move underscores just how far and fast the company has moved since being founded in 2015 in the small beach town of Kamala in Phuket. While real estate markets go up …
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Buyback Option at VIP KATA Condominium by Phuket9
Phuket9 Company announces a buy-back option for VIP KATA Condominium Project with a rental return of 56% over 8 years. The first two buildings of VIP KATA Condominium were launched in July 2018. After one month in August 2018, Phuket9 commenced construction of the second phase – 2 more buildings including 209 apartments, 2 common swimming pools, rooftop gardens, …
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Bangkok home prices among the cheapest in the Key Global Cities report
Hong Kong maintains its position as the world’s most expensive residential city, while Bangkok ranks at #33 out of 35 global cities surveyed. In the fifth annual Global Living Report, CBRE profiles the property markets across 35 key global cities. The results highlight that investments in urban areas such as transport infrastructure, connectivity, retail, cultural …
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Bangkok luxury poised to push through the US$300 ceiling
by Bill Barnett of c9hotelworks.com PHOTOS: Rosewood Bangkok For hotel owners and managers in South East Asia, one of the great mysteries of the past ten years has been the low rate profile of Bangkok’s luxury hotel set. Despite soaring and sustained tourism growth, rising airlift and a strong economy, rates at Bangkok’s top tier properties …
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Raid on 18 foreign-owned Koh Samui hotels, owners arrested
FILE PHOTO Army, police and municipal officials have raided 18 hotels on Koh Samui claiming that they are illegally owned by foreigners. The hotels in questions are on a mountainside on the Gulf island, the second largest island in Thailand. Officials carried out the search and raids on Chaweng Noi Mountain in Moo 6 village …
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Reservations now open for ‘Twinpalms MontAzure’ with enticing promotions
Celebrate the grand opening of Phuket’s newest beachside hotel by booking now to snap up fantastic deals. Twinpalms MontAzure in Kamala is offering irresistible packages ideal for both short and long-haul getaways for those who book directly from their website. Guests may choose to enjoy three nights and pay for just two and for those …
