CB Richard Ellis and Major Development PLC. cordially invite you to join Major Development 11th Anniversary Celebration.

Date: Saturday 20th - Sunday 28th August 2011
Venue: Hall of Fame, M floor, Siam Paragon

At this event, you can benefit from special privileges for units at CONDOMINIUMS READY TO MOVE IN!!

Additional promotions are available exclusively for Marrakesh Hua Hin Residences, Wind Sukhumvit 23, Wind Ratchayothin, Watermark Chaophraya River, Royce Private Residences, Collezio Sathorn-Pipat and Equinox Phahol-Vibha.

E-mail or call 02-259-2929 for more information.

Emporium Lifestyle Home & Residences

Date: 25 August – 4 September 2011
Venue: Fashion Hall, 1st Floor, The Emporium Shopping Complex

Best offers available for Bangkok and Pattaya new condomium projects

 Cetus Beach Front Pattaya

Pearl Residences Sukhumvit 24

Bright Sukhumvit 24

The Breeze 

For more information, please contact us
 

• Expansionary demand focuses on China whilst flight-to-quality increases
Demand for prime office space in Asia Pacific continued to grow in the second quarter with corporate remaining focused on expanding in the key Greater China markets. However, further deterioration of the economic situation in the United States and Eurozone would have a knock on effect on the regional economy. The period saw a significant increase in flight-to-quality activity, particularly in newly launched high-profile buildings and other iconic projects currently in the pipeline.

• Rental growth moderates in Asia but gathers momentum in the Pacific
The CB Richard Ellis Asia Pacific Office Rental Index rose 3.7% q-o-q in the second quarter thanks to robust occupier demand. Rental growth slowed in a number of Asian markets but falling vacancy in Australia provided rents with a boost. Greater China continued to enjoy the strongest growth in the region with rental increases in Beijing and Guangzhou exceeding expectations.

This is an extract from Asia Pacific Office MarketView Q2 2011, to read the full document please click here.

Interview with Chiraya Karnasuta, Associate Director of Bangkok Property Management at CB Richard Ellis Thailand. The interview focuses on the current Bangkok property management market for both residential and commercial properties.

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The reason for these successful leasing campaigns was a combination of the location, size, unit type, design and interior decoration of the two projects as well as a preference among some expatriate tenants for single ownership apartment buildings rather than individually owned condominiums.

Capital Residence is located on the main road of Sukhumvit Soi Thonglor. The building has 74 one to four bedroom apartments ranging from 58 sq.m. to 320 sq.m, with the majority of the units being 160 sq.m. three-bedroom units. The building was completed in October 2010 and was 95% leased within three months of completion.

S59 located on Sukhumvit Soi 59 comprises sixteen, 240 sq.m., three-bedroom units. The building was completed in December 2010 and is now 100% leased.

CBRE is the sole leasing agent for both buildings and also the project manager responsible for the construction supervision of Capital Residence.

There are a number of reasons for tenants favouring apartments. In an apartment building if there is a problem with the unit, the building manager is on hand to resolve this. In a condominium building the property manager is responsible only for the management of the common areas and not the individual units. Condominium building managers have no responsibility for repairs or maintenance inside individual condominium units.

Mr. Theerathorn Prapunpong, Director of Residential Leasing Services at CBRE said, “The locations of the two developments were an important factor behind their success, but location alone is not enough. The unit types and sizes matched market requirements as did the fixtures, fittings, furniture and appliances. It was the combination of both location and design that enabled both projects to succeed in a competitive market.”

In order to succeed, apartment developers need to clearly identify the needs of tenants in terms of unit type and size and examine the competition for each size of unit. The developer must optimize the size of each unit type creating the most efficient unit that satisfies tenants’ space requirements in order to maximise rental returns and the per sq.m. rent.

Getting the combination of location, size and design to maximize returns is complicated and need a depth of market exposure and experience, which is why CBRE now provides a design development consultancy service for developers, analysing and interpreting real market information from over 300 expatriate residential leasing transactions that company concludes each year.

For more info. on Bangkok condo for lease.

CBRE surveyed 280 multinational companies to find out where they had offices. of the 280 surveyed, 48.9% had offices in Bangkok, making it the 15th most popular city in the world for offices.

For more information, please visit our CBRE Thailand Research Centre.

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To watch the Thai version of this interview, visit our YouTube channel here.

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English Version

Thai Version

For more information, please visit the CBRE Website.

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