Bangkok
Weakness in the BKK condo market
PHOTO: Nara 9 – www.nara9.net
Property consultants, Edmund Tie & Company – South East Asia – report that the new condo supply for 2019 is ‘unlikely to increase’ and that sales rates are disappointing in Q3.
Their report says that the take-up rate of newly launched condominium projects in Q3 in Bangkok’s CBD dropped from last year’s 58% to only 31%, year on year. This is even lower than the performance in Q2 which was 46%.
Developers are acknowledging that there is a weaker demand for residential units and a significant drop in overall supply.
The three highest performing condo sale segments were the ‘luxury segment’, followed by the ‘super luxury’ and ‘Grade A’ segments.
The average price for condos has remained flat for Q3, compared to Q2 – around 330,000 baht per square metre – but this is still a 32% increase when compared to the same quarter in 2017, according to the report.
But Edmund Tie report that the figures are just a minor ‘blip’ following big rises in demand and sales over the past three years. They report that the new condominium supply in the CBD during Q3 was 1,636 units, rising from 852 in Q2, 2018 – a 92% increase in new units hitting the market.
For the office sector, their report says that rents will continue to increase gradually in the final quarter of this year and into 2019, driven by limited supply.
“There will be an increased demand for office condos in Bangkok.”
They say office developers remain focused on providing open-plan office space close to public transport nodes.
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PHOTOS: Immigration Bureau
Immigration officers at Suvarnabhumi Airport have arrested a Syrian woman with a fake Spain passport.
The Immigration Bureau reports that, while they were patrolling the airport, they found the woman who was acting suspiciously.
They asked to see her passport which had her name listed on the passport as Alampana Albana, a Spanish national. She was waiting for a flight to Germany.
Officers also found another Syrian passport which identified her name as Mrs Manal Ahmad Alnayed.
The woman admitted that the Syrian passport was her real passport. She told officers her husband, who lived in Germany, arranged it for her.
She says she purchased the fake passport in Malaysia. She received the flight tickets from a foreign woman at the KL airport.
Mrs Alnayed has been charged with illegal possession of, and using, a fake passport.
PHOTO: INN News
Immigration Officers have arrested a Spanish man after he allegedly raped a handcuffed Thai woman.
INN News reports that the 30 year old Spanish man was arrested following the issuing of an arrest warrant for the alleged rape of the woman. The incident happened last Saturday at a luxury condominium in Thong Lor, Bangkok.
The female Thai victim told officers she and her friends were drinking at an entertainment venue in Thong Lor. She went back to her room with the Spanish man.
After that the Spanish man used handcuffs with the victim before biting her neck and raping her.
Immigration Officers discovered that the Spanish man has entered Thailand 38 times in the past. He works as a marketing consultant in Spain. Police are continuing their investigation and questioning those involved.
SOURCE: INN News
A man, who had left home a month ago to live by the roadside with a stray dog in Pathum Thani, has been found dead. The dog was watching over the body when others discovered the deceased man. Pathum Thani is just north of Bangkok.
The deceased has been identified as 45 year old Surachai Khamsue. He was found lying by the side of a road in Moo 2 village in Tambon Klong Nueng, Klong Luang district, beside the old and un-roadworthy pickup that he had been using as a home.
His sister, 40 year old Chalermsri Sohsawaeng, told police that Surachai had left home to live in the car a month ago, and that she and other siblings had given him money to buy food.
Her brother liked to drink alcohol, she added. The body was sent for autopsy at Thammasat University hospital.
SOURCE: The Nation
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