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Ko Samui Resort projects struggled to survive in 2009

Aishwarya Gupta

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Phuket top tourist destination

Property developers in major tourist destinations have adjusted strategies – downsizing units, discounting prices and shifting to rental market – to survive the global economic slump and local political tensions, say property brokerage firms.

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Piyanuj Madnurak, general manager of Advance Inter Development Co Ltd, a property brokerage on Koh Samui, said the offering prices of residential units on the southern island decreased by 10-20% in 2009 and most of the units offered for sale were owned by foreigners.

A survey by REIC found the average selling rate of housing projects in Muang, Krathu and Thalang districts in Phuket was only 3% in the third quarter of 2009.

As of the end of the third quarter, 60 housing projects with 8,950 units worth 31.8 billion baht were on the market. Of these, about 6,500 units were sold, leaving 2,470 units available for sale.

“If there is no new supply in the market, it will take two years to sell the remaining units,” he said yesterday in a seminar on beach resort property.

via Resort projects struggled in 2009.

Property

Is There a Silver lining amid COVID-19?

Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.

Daniel Lorenzzo

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A direct result of COVID-19 containment measures is that organisations are taking a real-time look at the effects of prolonged off-site work and its relation to productivity.

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Property

The time is ripe to embrace Industry 4.0

Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns

Daniel Lorenzzo

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We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.

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Corporate

Covid-19 puts flexible space markets under strain

In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.

Daniel Lorenzzo

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The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

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