According to market research released yesterday by consulting firm C9 Hotelworks, resales highlighted the sector, bolstered by Asian wealth, which is leading the global storyboard.
Managing director Bill Barnett said a growing appetite by the rich and famous to “supersize” saw Natai’s Beyond Villa trade for a reported $24 million. “The profound ‘failure to launch’ during the past 24 months by developers has resulted in a reduced inventory of 77 new properties with a mar?ket value of $329 million,” he said.
“A switch effect into the secondary market has seen resales eclipse 83 per cent of total volume.
“Viewing broader trends in supply and demand, take-up rates for off-plan units remain soft, with the possibility of prod?uct fatigue setting in. New entrants and fresh products that could whet demand are at present absent from the mix,” he said.
Growing investor confidence in hospitality projects was spilling over to the residential market and the stage is set for some “marquee” suspended projects to be restructured and re-enter the supply stream, he said.
Research data indicate the geographic source of buyers is pragmatically shifting with the changing fortunes of the world’s economies. A lead indicator has Chinese and Indian investors showing early signs of sales activity in Phuket.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
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