Top Thailand Property News Of The Week 2 May 2022

The top residential and commercial real estate news of the week - 2 May 2022

CBRE’s weekly property news snapshot features the latest residential and commercial real estate stories in Thailand and elsewhere that you cannot afford to miss - be it regarding residential, industrial, retail, office, hotel, land, or investment property.

Supalai forecasts full recovery of condo market
Bangkok Post
Buoyed by the comeback of tourist arrivals and export growth, the condo market for the rest of this year is projected to fully recover, particularly the middle to upper-end segments, says SET-listed developer Supalai.

New regional zones approved by panel
Bangkok Post
The Special Economic Zone Policy Committee chaired by the prime minister yesterday approved four new special economic corridors, meant to resemble the flagship Eastern Economic Corridor (EEC), in a move to spur the economy and decentralise income to the regions.

TAT call for more hotel discounts receives tepid response
Bangkok Post
Hoteliers have mixed feelings about a new phase of the hotel subsidy scheme "We Travel Together" after the Tourism Authority of Thailand (TAT) suggested hotels could offer a 50% discount for an additional 1 million room nights.

Gucci to start accepting crypto payments in some U.S. stores
Bloomberg
Gucci will accept payments in cryptocurrencies in the U.S. starting this month, as the luxury industry takes tentative steps into the digital-asset universe.

Twitter sale could pique brands
Bangkok Post
The prospective purchase of Twitter by billionaire Elon Musk, who has vowed to protect freedom of speech on the social media platform, could draw more engagement from young people, giving brands greater opportunities to tap the group, say marketing and media pundits.

Phuket hotel outlook weak
Bangkok Post
Thailand's battered hotel sector is showing increased signs of fatigue as the global pandemic enters its third year. Nowhere is this more apparent than in Phuket, where over 73% of new hotel developments either lie dormant or have been put in hold, according to the Phuket-based consultancy C9 Hotelworks.

Korean joins fast food lane
Bangkok Post
Korean food is perceived as premium in Thailand. Thais rarely order it for take-out, mostly dining in at restaurant chains in retail complexes, hotels or Korea Town on Sukhumvit Road.

Airbnb beats estimates with 70% revenue growth as travel rebounds
NBC New York
Airbnb is expecting a strong summer as travel continues to rebound from the coronavirus pandemic. The company beat Wall Street estimates and gave strong guidance for the second quarter. Airbnb reported 102.1 million nights and experiences booked in the first quarter, surpassing pre-pandemic levels and beating expectations.

New York’s Waldorf Astoria Hotel finds a rocky path to condo conversion
The Wall Street Journal
New York’s famed Waldorf Astoria hotel is struggling to complete its plan for converting hundreds of guest rooms into luxury residences, a process that is shaping up as one of the largest, most intricate and priciest condo conversion and hotel rebuild projects undertaken.