property
- Property
4 new luxury hotels set for Bangkok and Pattaya
The future of Thailand tourism looks expensive. 4 luxury hotels are planned for Bangkok riverside and Pattaya beach, despite the drop in tourists due to the coronavirus pandemic. 3 of those hotels will be an expansion of Asiatique: The Riverfront, a waterfront shopping mall in Bangkok. Asset World Corporation, or AWC, inked the deal with Marriott International. The CEO and…
- Business News
Thailand’s retail and property markets adapt and move online
Tourism, property, retail – 3 sectors of the Thai economy that have taken a huge hit from the impact of lockdowns and border closures. Whilst most of the lockdown provisions are now lifted, the borders remain mostly closed and the economy ‘sluggish’ at best. The first half of 2020 has been one of the most challenging periods that Thailand retail…
- Crime News
Police seize property valued at 200 million baht from suspected hill tribe drug gang – VIDEO
Anti-narcotics police in 4 provinces seized property valued at around 200 million baht from a suspected drug trafficking gang… mostly northern hill tribe people, in coordinated raids yesterday. 30 targets in Bangkok and Hua Hin, as well as in northern and southern provinces, were raided by armed officers. 24 houses, 5 shophouses, 12 land title deeds, 22 cars and 27…
- Expats
Property investors offered access to Thai developer discounts – Thaiger Flash Sale
PROPERTY EVENT Today is the start of The Thaiger Property Flash Sale. It’s only for 24 hours (starting at midday today). The Thaiger has teamed up with fazwaz.com for this first-of-a-kind event. When in a buyer’s market, that demand should be catered for, with discount offerings a key driver of success. The level of discount will depend on the developers’…
- Phuket News
Long road to recovery for Phuket property sector
The Vice-President of the Phuket Real Estate Association says there will be no quick bounce-back for the island’s property market, saying it will take at least 2 years for things to recover from the devastating effects of Covid-19. Speaking to Bangkok Post, Boon Yongsakul, owner of Boat Lagoon, says the fall-out has been particularly severe in Phuket because the province…
- Northern Thailand News
Property slump in Thailand’s North
Real estate developers in Thailand’s North are a bracing for a slump in the residential property market, as the number of home buyers is dwindling and banks are imposing stricter rules on home buyers and reportedly denying mortgages. The president of the Chiang Mai Real Estate Association says the economic slowdown and lower confidence among buyers will lead to a…
- Events
New Normal for property developers as marketing moves online
PROPERTY EVENT “The coronavirus pandemic comes at a moment where the Thai real estate market has seen an over-supply coupled with reduced demand since 2019 due to appreciation of the baht and overall economic sentiment.” Restrictions on movement, a lack of foreigners visiting and inspecting properties, and an economic slowdown are putting pressures on Thailand’s property market. At the same…
- Economy News
Thailand’s property market set to experience brokerage megashift
by Bill Barnett It’s clear that Thailand’s real estate sector is expected to undergo a megashift as a result of the Covid-19 pandemic and search for a ‘new normal’, if that’s even possible. That said, one of the country’s leading PropTech groups FazWaz says the crisis has only accelerated dynamic charges to the sector that have been bubbling to the…
- Covid-19 News
Tenants bailing out of pricey Bangkok offices amid pandemic
Bangkok’s high-end office district is looking more like a ghost town as the coronavirus pandemic seems to have many companies bailing out of their pricey office spaces. The increasing vacancy trend of Grade-A office space is expected to continue, possibly until a coronavirus vaccine is in effect, according to managing director of Phoenix Property Development and Consultancy, Surachet Kongcheep. Business owners have…
- Covid-19 News
Thailand’s developers struggle with ‘guaranteed returns’ in Covid-19 property crisis
by Bill Barnett of c9hotelworks.com There is one key underlying fundamental for hotel branded residences returns, and the truism that best sums it up is that returns are a function of hotel trading performance and marketplace. In Asia, the largest branded residences market is Thailand. According to C9 Hotelworks market research, the country represents 29% of regional supply with key…
- Business News
The post-Covid-19 era: Radical changes in Bangkok’s property market
Property consultants CBRE have come up with their own evaluation of the current Bangkok office market, already getting pounded by regional trends and a high baht, now suffering another challenge – the Covid-19 coronavirus outbreak. They report that this situation will “create another split in our historical timeline – pre and post Covid-19” in Thailand. “At present, people are talking…
- Things To Do
The top 10 most expensive condominiums in Bangkok
Bangkok is never short on luxury condominiums, and one new project keeps overtaking the others, in terms of price and amenities. Here are the 10 most expensive condominium units in Bangkok for sale, in 2020. The most expensive condominium on the list is priced at 650 million baht (20 million US$). Which one is for you? No.1 98 Wireless –…
- Property
Major condo developers in Bangkok are looking for rental clients
As sales have taken a nosedive since last year, major condominium developers in Bangkok are looking for rental clients. As an example, L.P.N. Development, which developed condominiums and houses under the Lumpini brand, is offering newly-launched condos for rent. The company plans to attract tenants by offering lower or slightly lower rents than the market price for a 3 year…
- Things To Do
10 ways to optimise your property for sale
So, you’re thinking about selling your property… but, before you put your house or condominium on the market, it’s always a right move to hear what experts in the local market have to say. In this article, we’ve gathered advice from property consultants at Thailand’s top real estate company, Fazwaz Property Group on how to increase the value of your…
- Things To Do
10 proven tips to sell your property quickly in Thailand
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 Thaiger Property in Thailand to help you increase your viewings and sell your property faster. 1. Have the right attitude Thailand is a buyer’s…
- Bangkok News
Forecasts for Bangkok property 2020
A supply influx of new office space is on the way while the overall retail industry faces low consumer confidence. But, in 2019, the number of Chinese tourists to Thailand has started recovering, says CBRE, an international property consultant. Bangkok Office Market The office market in Bangkok continues to perform strongly for this, but CBRE identifies challenges that are heading…
- Business News
Strong interest of foreign investors in Phuket’s resorts – JLL report
PHOTO: Dhawa Phuket “In the Asia Pacific, Phuket is one of the three hotel investment markets in the region that have been highlighted.” Buoyed by the rise of experience-driven travel and an affinity toward locally-inspired hotel offerings, resort assets remain a top target among investors. According to JLL Hotels & Hospitality’s Global Resort Report, resort sales accounted for 20% of…
- Economy News
Thai government introduces property stimulus package
PHOTO: homeservicerayong.com “Buyers must earn no more than 100,000 baht a month and be registered on the Revenue Department’s tax database.” Thailand’s Finance Ministry spokesman Lavaron Sangsnit says that the three major housing associations are ready to support the government’s latest stimulus measures to support home purchases. There was a meeting between Ministry officials and the Housing Business Association, Thai Real…
- Business News
New land tax forces land owners to evaluate their options
PHOTO: SCMP The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant taxes once the new law comes into effect. Many will try to avoid the…
- Property
Guaranteed rental returns – Are they real?
If you’re looking to invest in overseas property, search the market and it’s not unusual to find condos for sale with guaranteed rental returns of 40%, and some even higher. Yes, it DOES seems too good to be true, but the offers are out there and the packages often come with free legal fees and other such benefits. Clearly, before…
- Hua Hin News
Tale of two cities – Hua Hin vs Pattaya
by Kornrawee Panyasuppakun Property buyers looking to buy a seaside villa or condo in a coastal town in Thailand, relatively close to Bangkok, confront one question – should I buy a property in Hua Hin or Pattaya? And rightly so, because these two choices have similar aspects. Both have kilometres of coastline, good beaches, and are just a couple of…
- Property
Stricter controls and paperwork putting brakes on residential property market
The honorary president of the Thai Housing Business Association, Atip Bijanonda, is tipping the local residential market may fall by up to 10% this year starved of economic confidence, the global economic slowdown and the loan-to-value limits. But he also believes the situation is far from the situation leading up to the 1997 economic collapse. The Greater Bangkok residential market…
- Business News
PropTech company targeting global expansion? FazWaz raises Pre-Series A
FazWaz, a PropTech company focused on making real estate transactions cheaper, simpler and more efficient announced today that is has secured an undisclosed 7 figure USD amount in a pre-series A round led by a Singaporean group. The funding will enable the FazWaz Group to expand its market share in Thailand, and continue its overseas expansion into the UAE. The…
- Property
Property Perfect launch promotion to boost flagging condo sales
Thailand’s property market will grow only 3 – 5% this year and the condo market is likely to end up 25% down – the executive director of Property Perfect claims it’s the the most severe situation in 10 years. The Nation reports that Wongsakorn Prasitwipat is primarily blaming the loan-to-value measures imposed by the government on Thai banks last April, along…
- Bangkok News
Bangkok land prices plateau, new tax on the way
Land prices in the Thai capital are forecast to plateau, or even drop this year. This would be the first time in more than ten years that Bangkok’s land prices have levelled off. So what is causing the sudden surge in land becoming available? Property and real estate consultants say the changes can be blamed on the general economic slowdown…
- Property
14% of condos around Bangkok are empty – good time to buy
Looking for a condo around Bangkok? Now might the right time to take the plunge with the head of the Appraisal and Estate Agents Foundation saying some areas have between 8-14% vacancy rates, some areas of Bangkok up to 17.5%. Dr Sophon Pornchokchai made the remarks at a news conference yesterday. “Adding developer price wars, plus inducements to purchase, this…
- Thailand News
“No stimulus for property sector” – Thai finance minister
The Finance Minister Uttama Savanayana told a seminar in Bangkok yesterday that the government’s stimulus packages were for the ‘grass roots economy’ and the property sector can cope on its own, without any government assistance. He was speaking at a property seminar hosted by the Krungthep Turakit newspaper yesterday. He said that that the real estate sector could readily adjust…
- Business News
Bank of Thailand relaxes Loan to Value to boost sluggish property market
PHOTO: booking.com The Bank of Thailand says it will relax the Loan to Value (LTV) for homebuyers purchasing residences together and that borrowers or co-borrowers applying for a loan under the first home buyers rule and who do not own any other residence would be given a 90% mortgage on a condominium and 95% for a single detached house and…
- Thailand News
Thai developers revising strategies after a drop in Q2
Some of Thailand’s largest property developers have reported drops in revenue and profit in Q2 2019. The slump follows commercial banks in Thailand reining in loan approvals in response to a new loan-to-value regulation that took effect on April 1. • AP (Thailand) reported total Q2 revenue of 4.8 billion baht, down 25.9% compared to last year’s 6.48 billion baht,…
- Business News
Thai land prices appreciate average of 8.3%
Land prices around Thailand have risen by an average of 8.3%, whilst land in the Eastern Economic Corridor have appreciated by more than 10% – the new land appraisals will be implemented for tax collection purposes next year, according to Wilawan Veerakun, deputy director general of the Treasury Department. The price of parcels of land in Khampaeng Phet province has gone…
