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Top Thailand Property News Of The Week 16 January 2023

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.

January 20, 2023


The top residential and commercial real estate news of the week - 16 January 2023

MINT hiking room rates to boost revenue
Bangkok Post
SET-listed Minor International (MINT) plans to continue hiking its room rates to ensure profitability and a minimum 20% revenue increase across three businesses, using an investment budget of 10-15 billion baht as part of a threeyear plan.

Noble anticipates Chinese buyer market fully recovering in Q3
Bangkok Post
SET-listed Noble Development plans to launch 10 new residential projects worth a combined 23.3 billion baht, aiming for 23 billion baht in presales with over a quarter of this generated overseas.

Dusit suffering from lack of long-haul hotel guests
Bangkok Post
Hotel operator Dusit International is experiencing an ongoing shortage of long-haul guests because of limited flights and high airfares, although last year's fourth quarter saw its best performance in three years with a 75% occupancy rate.

FPH in merger talks in bid to add condos
Bangkok Post
Low-rise residential developer Frasers Property Home Thailand (FPH) will add condos to its portfolio through both greenfield development and a takeover, with Grand Unity Development being the most likely candidate.

REIC expects housing prices to expand by 5-10% in 2023
Bangkok Post
Housing prices are projected to rise by 5-10% this year as the standard home construction price index continued an upward trend, with a year-on-year increase of 5.6% in the fourth quarter of 2022 amid a labour shortage.

Chana estate plan to wait study result
Bangkok Post
Construction of the Chana Industrial Estate in Songkhla will be deferred to next year, pending a strategic environmental assessment (SEA) report on government development projects in the South.

PSH to rejig precast business via transfer
Bangkok Post
SET-listed developer Pruksa Holding Plc (PSH) will dilute its shares in the precast business through a share swap with General Engineering Plc (GEL) and will co-invest in logistics with Singaporean real estate firm Capitaland and Taiwan developer Ally Logistics Property to boost recurring income.

The Forestias town centre components taking shape
Bangkok Post
Magnolia Quality Development Corporation (MQDC) is accelerating construction of the town centre components within the company's 398-rai The Forestias development on Bang Na-Trat Road.

Homebuyers urged to be more prudent
Bangkok Post
Homebuyers should have more financial discipline and readiness before buying a house as home prices are surging, interst rates are rising and property incentives have expired, say property webiste

Hotels want new stimulus phase sped up
Bangkok Post
Even with the Chinese market poised to return, local hotels still want the government to accelerate the launch of the new phase of the domestic stimulus scheme after another delay at the cabinet meeting last week.

Singapore home sales slump to 14-year low
The Straitstimes
New private home sales sank to a 14-year low in December amid a sharp drop in new condominium launches, rising interest rates and buyers waiting for a slew of new projects in 2023.