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Top Thailand Property News Of The Week 5 February 2024
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.
February 9, 2024
The top residential and commercial real estate news of the week - 5 February 2024
Confidence gains, but obstacles still remain
Tourism confidence for the fourth quarter of 2023 remained lower than normal, according to the Tourism Council of Thailand's (TCT) quarterly index, indicating operators are worried about the risk of deflation and a delay in fiscal budget disbursement.
Ministry urges aid for ailing property sector
The Finance Ministry recommends the government implement measures to improve the property sector and stimulate the economy, says Deputy Finance Minister Krisada Chinavicharana.
IEAT, Japanese firms eye green project
The Industrial Estate Authority of Thailand (IEAT) has joined hands with two Japanese firms to conduct a feasibility study on a green utility project at Smart Park Industrial Estate in Rayong, part of efforts to promote ecofriendly manufacturing.
SC Asset sees tough residential market
SET-listed SC Asset Corporation plans to focus on recurring income properties, allocating an annual investment budget for non-residential projects of 15% of the total budget over five years, up from 10%.
Myanmar buyers look beyond Bangkok
Property buyers from Myanmar shopping in Thailand are seeking residential units in Phuket and Chiang Mai, attracting a developer from the nation to invest in a single detached house project in Chiang Mai province.
Standard preps Hua Hin, Phuket projects
Hospitality firm Standard International is planning to launch two projects of The Standard Residences in Phuket and Hua Hin in the second quarter, with combined sales of 8.5 billion baht, aiming to achieve a 60% target in presales.
How changes in F&B offerings have impacted revenue and profitability
The 2020 COVID-influenced lodging industry recession resulted in some noticeable changes to the way hotels provide food and beverage (F&B) service.
Balancing 2 large projects
The proposed Land Bridge project in southern Thailand is viewed by the current administration as a marker of its success in drawing foreign investment, similar to how previous governments regarded the Eastern Economic Corridor (EEC).
Labour shortage putting pressure on hotel costs
Labour shortages in the tourism sector have caused hotel expenses to increase at a higher rate than revenue growth, according to hospitality market analyst STR.
Hotel margins dented by rising costs
The end of reductions for property tax and elevated energy prices this year have pushed up operating costs for hotels by at least 10%, leading to lower margins even as they service more guests.