Top Thailand Property News Of The Week - 26 April 2021
The top residential and commercial real estate news of the week - 26 April 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.
Sansiri readjusts transfer, presales targets by 15-20%
SET-listed developer Sansiri Plc has revised its transfer and presales target up by 15-20% to 31 billion baht each by the end of the year despite the third wave of Covid-19 in the country.
Private sector unsure on jab imports
The Federation of Thai Industries (FTI) will go ahead with its plan to import vaccines for companies which want to distribute them to employees, while the Thai Chamber of Commerce (TCC) accepted that it might be too late for the private sector to procure vaccine supplies amid intense global demand.
Low-rise house price index rises in Q1
The price index of low-rise houses in Greater Bangkok picked up in the first quarter of 2021 after decreasing for three consecutive quarters because of rising demand, according to the Real Estate Information Center (REIC).
Project for low-income earners gets boost
The Treasury Department plans to allocate 1,000 rai of state land in Samut Prakan to construct residential projects for low-income earners to rent at affordable prices.
Domestic retail e-commerce set to surge
E-commerce penetration in the retail sector could triple in the next few years as the pandemic pushes brands to go online and cross-border sales increase, says JD Central, an e-commerce joint venture between Central Group and Chinese internet giant JD.com.
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Testing times for eastern islands
Hotel operators on the eastern islands -- led by Koh Samet -- face an additional constraint from the imposition of travel restrictions, dimming faint hopes for the long Labour Day weekend. Before an official order to close hotels, only 30% of 140 hotels remained open.
Hong Kong’s Towering Office Rents Are Coming Back Down to Earth
The Wall Street Journal
Hong Kong’s economy is finally turning the corner. But it could be years before the city’s once-lucrative office-rental market is back to full health. Companies are scaling back to cut costs and to adapt to an era of flexible working.
Malls, retail outlets told to ensure supply
Shopping malls and retail stores have been asked to stock up on necessary goods to meet consumer demand as the third Covid-19 outbreak remains volatile, according to the Department of Internal Trade. It also asked operators of online food delivery platforms, which are expected to receive more purchase orders, not to increase their service prices.
Phuket reopening still in the works
Despite daily infections reaching a record high of 2,070 cases in Thailand last week, the country is determined to reopen to international tourists starting with Phuket on July 1. The Tourism and Sports Ministry on Friday committed to its plan to welcome vaccinated foreign tourists without quarantine requirements.
Adviser says barriers need alleviating
Thailand risks lagging behind Malaysia, Vietnam and even Indonesia for investment competitiveness if obstacles are not smoothed over, warns the former senior country officer and managing director for JPMorgan Thailand.