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Research Archives | Page 8 of 9 | Thailand Property News

Summary The biggest change in Q2 2009 has been the nationality of purchasers. In 2008 up to 50% of primary sales purchasers for off plan sales were foreigners. In the second quarter of 2009 we saw that change to Thais making up 80% of purchasers both for primary sales from developers and resales in projects approaching completion. Thai purchasers believe ... Read More >
Summary The second quarter of 2009 continued to be a quiet period for property sales in Phuket, with a reduced number of enquiries and buyers compared to the beginning of last year. The effects from the global economic crisis and Thailand’s political instability are certainly still impacting sales performances. Overall, Q2 saw a more active residential market compared to the ... Read More >
The surprise of the quarter was that despite the global economic recession the number of expatriates with work permits in Bangkok rose by 13.2%  y-o-y  to 79,511 according to figures from the Alien Occupational Control Division, Department of Employment. We also checked with the major international schools and they reported that they had not seen a significant drop in the number ... Read More >
Overall take-up of the Bangkok office market was 6,763,812 m2, up 0.2% q-o-q and 0.9% y-o-y. The driver of demand in this quarter was DTAC which took up 61,000 m2 in Chamchuri Square. The occupancy rate of the Bangkok office market also improved slightly to 86.0% from 85.8% in the last quarter. The vacancy rate was 14.0%, indicating a fall ... Read More >
Q2 2009 has seen a disappointing number of transactions, one however is worthy of noting, that being the purchase, by LPN Development Plc. of three development sites. The total value was approximately THB 700 million for three land plots in different locations. With regard to whole building sales in Q2 2009 there was no activity. The major reason for the ... Read More >
The major highlight of this quarter was that sales of Serviced Industrial Land Plots (SLIP’s) rose by 187% q-o-q to 255 rai in Q2 2009 SILP’s but this was due to the Thailand Tobacco Monopoly buying 240 rai at Rojana Industrial Park. Only 344 SILPs have been sold in 2009 to date, this compares with 4,170 in the whole of ... Read More >
During Q1 2009, we saw an increase in interest and enquiries about revenue-producing assets, even though there were no major reported transactions of this type. The few land sales seen were completed by developers, some of whom are continuing to expand their development portfolio despite economic conditions. We continue to believe that we will not see the type of distressed ... Read More >
As of Q1 2009, the total stock of Bangkok office space increased to 7,864,435 m2. There were three newly completed office projects during this quarter with a combined area of 67,300 m2. Asia Centre and Sala at Sathorn are located in the CBD, while Central Chaengwattana is located in the Non-CBD area. 226,880 m2 of office space is expected to ... Read More >
The Thai hotel sector is facing the twin challenges of increased supply and a falling demand. Demand is declining due to a number of factors. – the global recession has cut business travel and MICE events. – the global recession has reduced personal travel and the currencies of several of Thailand’s major feeder markets such as the UK have fallen ... Read More >
Supply The total supply of apartment units in downtown Bangkok stood at 10,866 as of Q4 2008, up from 10,677 (+1.9% q-o-q and +6.1% y-o-y) in the previous quarter.  The incremental supply during this quarter is from four newly completed projects in the Sukhumvit area.  These are The Residence, 14 Place, The Harmonized and L.Three Avenue, totaling 199 units.  All ... Read More >
Highlights The average occupancy rate for downtown Bangkok was89.7% in Q4 2008, up 1.8% q-o-q, but down this by 1.2% y-o-y. The total number of occupied units was 9,749 in quarter, up 3.9% q-o-q and 4.6%. The average achieved rents for Grade A apartment units declined in all areas from 1.2-5.6%, especially in Sukhumvit(-5%), and Riverside/ Rama III (-5.7%). The ... Read More >
Outlook The total number of expatriates in Bangkok grew y-o-y to November 2008, but this growth will slow as many manufacturing companies have announced significant reductions in production for 2009. Additionally, all types of businesses have tightened spending, which in some cases includes reductions in employee salaries and other benefits, such as rental allowances. Given these conditions, we expect demand ... Read More >
Average achieved rents – Bangkok Q4 The average achieved rents for Grade A and B Bangkok apartments declined in all areas, from 1.2-5.6%. Grade A apartments in the Riverside/Rama III area posted the highest decline, at 5.7% q-o-q to THB 405/sqm/month. For Grade B, Silom/ Sathon retreated the most, by 3.5% q-o-q to THB 353/sqm/month. Going forward, we expect to see a ... Read More >
  The latest CBRE Phuket Property Report estimates there will be 3,977 hotel keys added to the upscale hotel market in Phuket, bringing the total to 12,292 keys in the next three to four years. This includes new hotels and expansion of existing hotels. The West coast continues to be the key area of development, with 17 hotels to be ... Read More >
Phuket has outperformed itself in terms of hotel occupancy and arrivals even in last year’s low season. From a highly seasonal tourist destination, worldwide appeal has transformed Phuket into a year-round destination, with a 70% average annual hotel occupancy. This high season is undoubtedly one of the busiest Phuket has seen. Phuket International Airport currently handles up to 287 international ... Read More >

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