Top Thailand Property News Of The Week - 14 Jun 2021

The top residential and commercial real estate news of the week - 14 June 2021

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.

Siamese Asset upbeat on rise in hotel, condo demand
Bangkok Post
SET-listed developer Siamese Asset (SA) expects the country's reopening in October and an increase in foreign ownership quotas for condos to help boost the hotel and property business in the second half.

Retail, hotels applaud return to normalcy
Bangkok Post
Operators of malls and hotels hail the government's plan to fully reopen to foreign visitors in 120 days, but some remain concerned the scheme may result in a spike of coronavirus infections that could eventually derail the country's economic recovery.

CCSA seeks Phuket Sandbox revisions
Bangkok Post
The Centre for Covid-19 Situation Administration's (CCSA) sub-committee has asked the Tourism Authority of Thailand to revise the Covid-19 control plan proposed for its Phuket Tourism Sandbox programme, due to kick off on July 1.

High-rise curbs timely
Bangkok Post
As an old adage goes, it's better late than never. An initiative by the Office of Natural Resources and Environmental Policy and Planning (NEPP) to regulate new highrises, with additional requirements on real estate developers to ensure minimal impact on surrounding communities and society in general, is more than welcome.

Q1 2021 wrap-up for Bangkok office and hotel markets
CBRE Thailand
After a full year under COVID-19-induced financial pressure with limited significant improvement in the economy found mounting supplies arriving in Bangkok office market as tenants consider space contraction and the average occupancy rate for the Bangkok hotel market reaching a challenging level in the first quarter of 2021.

REIT prices edging near pre-Covid levels
Bangkok Post
Prices of global real estate investment trusts (REITs) edged near pre-pandemic levels following the economic recovery and progress in global vaccine distribution, while Thai REITs remain the laggard despite excellent returns compared to global counterparts and government bonds, says Veena Lertnimitr, executive vice-president of Siam Commercial Bank.

Housing gets lift in Northeast
Bangkok Post
Housing developers in Nakhon Ratchasima, Khon Kaen and Udon Thani are set to resume supply of new units as a market recovery is expected to begin in the second half after mass vaccinations.

IHG focuses on expanding voco brand hotels
Bangkok Post
InterContinental Hotels Group (IHG) aims to expand upscale properties under the voco brand to 200 hotels globally in the next 10 years, while 14 deals in Asia-Pacific have been secured, after vaccinations created pent-up demand for travel.

FTI anxious over vaccination delays
Bangkok Post
The Federation of Thai Industries (FTI) has voiced fresh concern over the delay in the vaccination campaign due to a vaccine shortage, a setback that may erode public trust in the Prayut Chan-o-cha administration.

Phuket's reopening proposal wins nod
Bangkok Post
The National Communicable Diseases Committee (NCDC) yesterday gave conditional approval to the so-called "Phuket Sandbox" programme to reopen the island for tourists.

Property developers' outlook upbeat
Bangkok Post
Property developers are optimistic for the second half of 2021 because of a nationwide vaccination rollout and positive factors driving housing demand. Theerathat Singnarongthon, assistant to the chief executive of SET-listed developer Property Perfect (PF), said the mass vaccination scheme beginning this month is providing a better outlook for the economy and the property sector.