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Residential Sector - Property News

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 >
Useful information about property rental Rental: This is always referred to as monthly rental, and is payable monthly in advance, by the tenant to the Landlord.  The total rent may be split between rental of space, rental of furniture and service/maintenance charges. Tenants are responsible for payment of utilities. Tenants also usually pay for monthly cable TV subscription, with the ... 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 >
Construction for roads and infrastructure at the W Koh Samui Retreat & Residences commenced in Q2, 2008, followed by a hotel and residences show unit construction in Q3. The resort will feature a 75-key W Retreat & Spa and 17 private residences to be completed by mid-2010. The hotel mock up villa is now complete and the residential show villa ... Read More >
  Demand for Bangkok condominiums fell significantly in Q4, 2008 as concerns grew on the impact of the global financial crisis and political uncertainty.   Moving forward, 2009 will prove a testing year for Thailand’s property market. “A faster recovery is expected compared to 1997 as the fundamentals of the Thai and Bangkok property markets are stronger” said Khun Aliwassa ... Read More >
  According to the latest CBRE Bangkok Property Report, the average asking price for off-plan condominium projects in downtown Bangkok (high-end and above) was THB 155,134 per sqm. (Click here to find out more about the Bangkok Property Report)   Although price declines have not been observed, buyers who have purchased off-plan are prepared to re-sell at prices two years ... Read More >
  New project launches have slowed down substantially since Q3, 2008 with only three new project launches (927 units) in central Bangkok, compared to six new projects in Q2, 2008. Launches have also declined in peripheral areas, with ten new projects launched during Q3, 2008, a 38% drop compared to the previous quarter. (For more information about CBRE Research Services, ... Read More >
Tourism is a critical element of the Thai economy, with income generated from tourism contributing significantly to the country’s GDP and likely to grow further.   In line with global trends, there is a growing demand for resort homes among longer stay tourists and expatriate retirees who are typically American, European and Asian high net worth individuals who choose Thailand as ... Read More >
Sales of luxury property in Thailand remain buoyant despite global concerns, according to CB Richard Ellis, the leading international property consultants in Thailand. At a luxury property exhibition last week at Bangkok’s Siam Paragon, the company sold 50 condominium units worth a total of USD 20.5 million in locations including Bangkok and resort destinations such as Pattaya. Overall estimated sales ... Read More >
Bangkok’s luxury condominium market will become more active this year and the new supply will continue to be limited, according to leading international property consultants CB Richard Ellis.  The high-end and luxury markets, which faced a slight slowdown in 2007 mainly due to the low market sentiment, will become more active in 2008. Last year, the main focus in the ... Read More >
The  number of secondary sales  in the Bangkok condominium sector has increased significantly over the last twelve months as developments near completion, according to the latest  report on the  Bangkok Condominium Market published by CB Richard Ellis Thailand, the leading property consultant. In the upper middle and luxury condominium sector there have been fewer new launches and so the total ... Read More >

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