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Thai Property market : condo launches to slow to 61,000 – 64,000 units in 2019

More than 77 percent of respondents, who are interested in buying a condo between 2019-2020, said they want to purchase a condo as their residence

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Construction Workers in Bangkok

Condominium developers are expected to face greater challenge in 2019 due to increasing economic uncertainty as well as specific factors affecting condominium market.

For example, the demand for condo has been somewhat absorbed and there are a number of remaining unsold units covering a wide range of prices amid the imbalance between purchasing power and selling price.

Moreover, new regulatory and legal requirements have become effective. These factors have prompted business operators to attach greater importance on their business plan adjustments.             

The findings show that more than 77 percent of respondents, who are interested in buying a condo between 2019-2020, said they want to purchase a condo as their residence.

Real demand for condominiums still strong

The real demand for condominiums still exists, as reflected by a survey to determine the demand for residential properties in Bangkok and suburbs by KResearch.

As property developers are now stepping up their marketing promotions to attract homebuyers, this may present a golden opportunity for consumers who are planning to buy a condo. They now have a variety of choices consisting of both old and new projects, covering a wide range of prices, to choose from.  

At any rate, since the purchase of residential property is considered a long-term financial liability, the buyers must take into account their debt service ability in the long run together with additional expenses that may incur and affect their ability to pay installments.                  

Investors more cautious

Investors planning to purchase a condo for renting out may have to be more cautious due to various factors.

For example, the initial cost of investment becomes more expensive because of the Bank of Thailand’s loan-to-value (LTV) policy to govern the housing loans. Additionally, rental income from apartment may not generate high profit as seen in the past due to stronger competition. Tenants have more choices and greater bargaining power.

Also, capital gain is high only in certain segment and customers may have to spend a longer period of time before they can sell the property. This can cause an opportunity cost if the investment return falls short of expectation.            

 Due to the aforesaid situation, KResearch views that the total condo units for sales in 2019 will be around 61,000-64,000, contracting around 12-16 percent from 2018 and representing the first decline since 2017. 

Condo market in 2019: Developers are cautious with the volume of project launches expected to slow to 61,000 – 64,000 units.

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Tourism

The Bachelor Japan Season 4 showcases Thailand

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Bangkok, 2 December, 2021 – The Tourism Authority of Thailand (TAT) is pleased to report that Thailand features as the main location in the Japanese reality TV show ‘The Bachelor Japan Season 4’, of which the first episode aired on 25 November, 2021.

In cooperation with the TAT Tokyo Office, a film crew from Amazon Prime Japan and YD Creation Japan comprising 65 actors, production staff, technicians and others travelled to Thailand to shoot for the show in the spectacular Southern provinces of Phuket, Phang-Nga, and Krabi between April and June 2021.

A total of six out of the 10 60-minute episodes of ‘The Bachelor Japan Season 4’ were filmed in Thailand.

 Aside from the valuable promotional exposure the destination will receive in Japan, a key source market for visitors from the Asian region, the foreign production also generated much-needed income and employment opportunities in the local tourism and film-related sectors of the three chosen locations.

Phuket, Phang-Nga’ and Krabi were among the first destinations in Thailand to reopen to tourism under the Sandbox programme, and the TAT Tokyo Office has capitalised on the interest of foreign filmmaking to promote the world-class tourist appeal and public health safety standards of these destinations.

Mr. Yuthasak Supasorn, TAT Governor, said “Popular TV shows like ‘The Bachelor’ are an effective way to deliver promotional messages directly to international markets, in this case Japan, which is among the 63 countries and territories from which fully vaccinated visitors can enter Thailand through the Exemption from Quarantine (TEST & GO) programme. With Thailand featuring so significantly in ‘The Bachelor Japan Season 4’, this helps us to promote travel to Thailand now that entry rules are being relaxed and tourists are once again welcomed.”

Fully vaccinated visitors from every country around the world can also visit Thailand via the Living in the “Blue Zone” Sandbox destinations programme. Meanwhile, partially or unvaccinated visitors are also much welcomed via the Happy Quarantine programme. However, to prevent and control the spread of the new Omicron COVID-19 variant, Thailand currently imposes travel restrictions on arrivals from Africa.

Photo Credit: Instagram: @BachelorJapan外部リンク, @bachelorjap外部リンク

The post The Bachelor Japan Season 4 showcases Thailand appeared first on TAT Newsroom.

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Asean

ASEAN commemorates Youth in Climate Action and Disaster Resilience Day 2021

An intergenerational dialogue titled ‘Teaming up with You(th) for a Disaster-Resilient and Climate-Friendly ASEAN’, was moderated by the ASEAN Youth Forum’s Programme Manager, Rastra Yasland.

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JAKARTA, 30 November 2021 – The ASEAN Secretariat hosted an interactive webinar to commemorate ASEAN Youth in Climate Action and Disaster Resilience Day on 25 November.

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