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Top Thailand Property News

CBRE’s weekly property news snapshot features the latest residential and commercial real estate stories in Thailand and elsewhere that you cannot afford to miss

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CBRE’s weekly property news snapshot features the latest residential and commercial real estate stories in Thailand and elsewhere that you cannot afford to miss – be it regarding residential, industrial, retail, office, hotel, land, or investment property.

Motorists face Green Line traffic chaos
Bangkok Post
Traffic chaos on Phahon Yothin Road is expected to worsen when construction of the Green Line rail extension from Mor Chit to Pathum Thani starts this month. Traffic conditions are expected to deteriorate particularly from the Ratchayothin intersection and the Kasetsart University intersection when the flyovers at the two intersections will be removed to pave the way for construction of the 19km of elevated rail track.

Developers focus on luxury condos in Bangkok CBD as land prices rise
The Nation
Units in a luxury condominium in Bangkok will go on the market at a record-high price of at least Bt500,000 per square metre next year when Sansiri launches its ready-to-stay project on Wireless Road. “We will offer a starting price of Bt500,000 per square metre, or perhaps more, when launching the project to the market in the middle of 2016,” said Srettha Thavisin, president of the residential developer.

Property tax back on agenda
Bangkok Post
The much-touted land and buildings tax is expected to be at the top of the cabinet’s agenda over the next two months after a delay since March based on public concerns about burdensome taxation. The draft bill on the new property tax is pending Finance Ministry consideration before seeking approval from the cabinet and the National Legislative Assembly (NLA), said Finance Minister Sommai Phasee.

Source: Top Thailand Property News

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Currencies

Thai baht becoming the region’s worst-hit currency in COVID pandemic

According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000 tourist arrivals as of May 2021, compared with over 39 million in 2019, before the pandemic. Fewer tourists also means lower demand for the Thai baht.

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The Thai baht has been hit by a sharp decline in tourism numbers due to the COVID pandemic, making the country’s currency the worst-hit in the region this year, according to Mizuho Bank.

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Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

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Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

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