real estate
- Expats
Expat shift drives changes in Bangkok’s condo market
Thailand’s dominant working expat nationality in past decades has been Japanese, currently making up 18% of expatriates in the country. But, while Japanese expatriate numbers are decreasing, a CBRE report notes that Chinese and Filipinos are on the rise. There were 28,560 Japanese expats in Thailand as of Q3 2020, just ahead of the Chinese expat contingent at 25,811. As China’s manufacturing has…
- Things To Do
Top 10 things that changed in Thailand during the Covid outbreak
Things have changed. In some cases they’ve changed a lot and may never be the same again. Many people are suffering as a result of the impacts of lockdowns and the border closures. Entire industries, like aviation and entertainment, have been profoundly affected. Some people are being forced to re-invent their lives as a result. Fears over Covid-19 are causing…
- Thailand News
Thai condo developers clearing inventory rather than starting new projects
“With waves of uncertainty and financial stress crashing into the market from the COVID-19 pandemic, most residential property developers have decided to postpone their plans.” CBRE, the international property consultants, reports that most Thai developers are postponing the launch of new condo projects to focus on clearing existing stock. Discounting completed projects to generate quick revenue as a financial lifeboat…
- 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…
- Economy News
JLL sees bright future for post-Covid Thai real estate market
Thailand’s hospitality industry has been hit hard by the Covid-19 pandemic and Bangkok’s serviced apartments are no exception. A study by property consultant Jones Lang LaSalle indicates that serviced apartments have generally fared better than hotels in current and past times of distress. The report expects the pandemic to boost the growing trend of mixed-use premises offering hotel rooms and…
- Events
4 reasons why you should register for this Thursday’s Thaiger Flash Sale
THAI PROPERTY EVENT THIS THURSDAY Real estate experts are sounding the alarm… property prices are starting to drop! And The Thaiger Flash Sale, in conjunction with fazwaz.com is giving you the chance to own your dream home with the biggest discounts ever seen, all in one place for just 24 hours. The Thaiger Flash Sale, happening this Thursday, June 18,…
- 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
Phuket’s economy is more than just tourism
by Bill Barnett While Phuket’s brand and economic reality is that nearly half of its contribution to GPP (gross provincial product) comes from tourism is true, it’s important to understand that there are other generators that will aid in the island’s post-crisis recovery. The island’s real estate sector, that currently has a market value of over 100 billion baht (according…
- 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
Condo developers allow transfer delays for Chinese buyers, due to slowing sales
Thai property developers are sharpening their pencils on sales and allowing variations to contracts on some deals to accommodate some of the challenges posed by the coronavirus outbreak. Now some developers in Thailand have started to extend the transfer period from 3 months to 9-12 months for Chinese clients, according to Angel Real Estate Consultancy. Chinese buyers have paid 30%…
- 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 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…
- Environment News
10 ways Thailand is moving to a greener future
“Green” is not usually the word that comes to mind when speaking of Thailand, especially when you are speaking through a PM2.5 face mask. But with recent attempts to improve the environment and tackle waste, here are some positive changes to shift your attention from air pollution and help you feel good about the decision to live, invest, or retire…
- Property
What it’s like to live in a resort in Thailand?
From clear crystal waters to dense lush jungles and rolling hills, iconic locations are magnets that attract travellers seeking relaxation and adventure to Thailand. But as more hotels and resorts start offering rooms or private villas, people may wonder what the perks and privileges of a perpetual holiday lifestyle may be. Bedroom views While city life demands us to constantly…
- 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…
- Bangkok News
Bangkok’s office rental hot spots
PHOTO: brandinside.asia And the winner is…? A survey carried out by Colliers International (Thailand), a global commercial real estate organisation, reveals that the highest office rent in Bangkok is at Gaysorn Tower on Ratchaprasong Road. The Nation reports that premium office space in the building is leased for 1,600 baht per square metre per month. Coming in at slightly less are spaces…
- 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…
- World News
Hong Kong property investors turn to SE Asia
“But now mainland Chinese, who traditionally viewed property in Hong Kong as a safe investment, are opting for rival financial hub Singapore and other south east Asian property hot spots.” by Sam Reeves, with Catherine Lai in Singapore From luxury Singapore apartments to Malaysian seafront condos, Hong Kong investors are shifting cash into Southeast Asian property, demoralised by increasingly violent protests…
- 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…
- World News
Brexit dampens British housing market
“In London, property values dropped by 4% in the first quarter from their level earlier this year, the sharpest drop since 2009 when the global financial crisis was raging.” by Véronique Dupont As Britain’s deadline to leave the EU approaches, property prices have slowed or dropped, especially in London, with sector analysts warning of worse to come if Britain crashes…
- 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…
- Crime News
Three Russians arrested over alleged property fraud in Pattaya
PHOTO: PattayaupdateNews Chonburi police have arrested three Russians in the car park of the Ocean Portofino Condo, next to Ocean Marina, in Na Jomtien, south of Pattaya yesterday. A 53 year old man and two women, 52 and 28 years of age. All were named in separate arrest warrants, each for fraud. They were taken to Pattaya police station after…
- Property
Hua Hin property market stabilises
The condominium market in Hua Hin is returning to a “balanced state” thanks to a slow down in the launch of local developments in the coastal town. This follows the opening of many developments in 2011 and 2012, causing demand to fall behind the supply. Knight Frank Thailand’s director of research Risinee Sarikaputra says that in the middle of 2019, the…
- 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…
- Thailand News
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 618.65 million baht in the…
