Source: Property Report dated June 23, 2010 by Andrew Batt Despite the ongoing political instability prices for condominiums in Bangkok have not dropped – and in some cases they’ve been rising as demand from local buyers continues to drive the sector. Research from CB Richard Ellis (Thailand) showed the majority of condominium sales during the first [...]
Bangkok Residential Sales MarketView Q1 2010 The majority of condominium sales have come from Thai nationals not just looking to be end users but also to be buy to rent investors. The growing numbers of Thai buyers reflects the improvement in local consumer confidence. The biggest surprise for many people this quarter is that generally [...]
LPN’s purchase of another development site, this time on Rama IV Road in downtown Bangkok shows more confidence in Thai property market. LPN acquired a 1,704 square wah site for 255,600,000 baht equating to 150,000 baht per square wah according to a report made to the Stock Exchange of Thailand on January 28, 2010. LPN [...]
LPN Development Public Company Limited announced details of their latest land purchase to The Stock Exchange of Thailand, a 3,194 square wah (12,776 square metre) site at Bang Khae for 102 million baht (32,000 baht per square wah). The date of the transaction was October 26, 2009. The company will develop 4 low-rise 8 storey [...]
Bangkok – 20 January 2010 – 2009 was a challenging year for the Thai property market, but CB Richard Ellis (CBRE) sees positive signs for 2010. Whilst 2009 has been a tough year, it was not as bad as many expected. 2010 has begun with a more positive market sentiment. The improving economic outlook globally [...]
LPN one of the leading developers of entry level condominiums announced to the Stock Exchange of Thailand that they had acquired a 5,921 square wah (23,684 square metre) plot of land at Ratchayothin from another smaller publicly listed Developer, Metrostar Property. This is further evidence of confidence among the larger developers to proceed with [...]
CB Richard Ellis sees residential market sentiment as positive throughout the majority of 2009 with prices and opinion improving quarter on quarter. A recent press release from another agent highlighted the drop in the house price index, placing Thailand’s residential market 38th out of a sample of 42, above Dubai and three Eastern European countries. [...]
Bangkok Residential Sales MarketView Q3 09 For the second consecutive quarter the majority of sales have come from Thai nationals, who are not just looking to be end users but also to be buy to rent investors. Thai purchasers believe that prices have reached the bottom and are going to rise and see property as [...]
Bangkok Residential Leasing MarketView Q3 09 Five apartment buildings were completed, with a total of 62 units. The total supply of apartments units was 11,151 increasing by 0.56% Q-o-Q and 4.5% Y-O-Y. The total number of condominium units in downtown Bangkok grew by 1.7% Q-o-Q and 14.1% Y-O-Y to a total of 61,522 units. Grade [...]
LPN and Supalai reported that they had sold the majority of units in four projects that were launched on the weekend of November 21 and 22, 2009. LPN launched and sold 1,026 units at Lumpini Ville, Ladprao Chokchai. The average unit size was 29.5 square meters and the average achieved price was 1.43 million Baht [...]
The current restrictions on foreign ownership in particular the restriction of foreign ownership to 49 % of the sellable area of a condominium at the limit on the current length of lease to 30 years with options to renew will affect Thailand’s resort property markets which in the case of Phuket or Koh Samui are almost totally [...]
Momentum is growing around the world for certification of the environmental efficiency of buildings. Although Thailand has not yet adopted its’ own certification standards this has not prevented developers from adopting international standards in the absence of a local standard. This move is in a response to demand particularly in the office market. We believe [...]
Summary The second quarter of 2009 started badly with civil disturbances in Bangkok over the Songkran (Thai New Year) holidays in April. However, despite this inauspicious commencement to the quarter there were signs of improvement in certain property sectors. The luxury condominium market saw a significant improvement in the number of sales compared to the [...]
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 [...]
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 [...]
