RCI and The Registry Collection announced as sponsors for the 2010 Thailand Property Awards.
Ensign Media Co. Limited, the organisers of the Thailand Property Awards, is delighted to announce that RCI, the worldwide leader in vacation exchange, and The Registry Collection, the world’s largest luxury exchange program, as sponsors for the 2010 event.
The Thailand Property Awards are widely recognised as the oscars for the kingdom’s property and real estate industry. This year’s event – the fifth – has already seen a record number of nominations. The winners will be revealed at a gala ceremony on Saturday, November 6, at the Grand Hyatt Erawan in Bangkok, which will be attended by over 500 leading figures from the property industry.
Eunice Yap, Vice President, Marketing & Affiliate Relations of RCI, said: “We’re both pleased and proud to be associated with the Thailand Property Awards. Thailand is an important market for our brands, and for the timeshare and fractional ownership industry.” In a reflection of the rapid growth in the industry, the RCI Best Shared Ownership Development award will also be presented for the first time at the 2010 awards and has attracted a wide range of nominations from across the country.
Terry Blackburn, Managing Director of Ensign Media Co. Limited, said: “Having the world’s largest timeshare exchange organisation as a sponsor for this year’s Thailand Property Awards is testament to the strength and reputation of the event. Timeshare and fractional ownership is a growing trend in Thailand, and to have a globally recognised and respected company on board is wonderful.”
About Ensign Media
With offices in Bangkok, Phuket and Singapore, Ensign Media Co. Limited is the organiser of the Thailand Property Awards, as well as publisher of the market-leading monthly regional magazine Property Report South East Asia.
RCI is part of Wyndham Exchange & Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 65,000 vacation properties in approximately 100 countries. Wyndham Exchange & Rentals is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals, Hoseasons, cottages4you, Novasolฎ, Cuendetฎ and Landal GreenParksฎ, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourseฎ Leisure Real Estate Solutions, a research and consultancy firm providing advisory services to the global leisure real estate industry. Wyndham Worldwide Corporation is one of the world’s largest hospita lity companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange.
About The Registry Collection
The Registry Collection program is a global network comprising over 30,000 members and more than 130 affiliates on five continents. More than 175 properties are available through The Registry Collectionฎ program and are either accessible for exchange or under development. As the world’s largest luxury exchange program, The Registry Collection program provides members with access to an elite global network of the very finest vacation properties at some of the world’s premier destinations, as well as personal concierge services that are available 24-hours a day. From condo hotels and high-end fractional resorts to private residence clubs and fractional yachts, The Registry Collection program facilitates exchanges around the world and redefines the vacation experience for owners and developers. The Registry Collection program is offered by Wyndham Exchange and Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals and one of the Wyndham Wo rldwide family of companies (NYSE: WYN).
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Thailand Real Estate Outlook
Although the Thai real estate industry has continued growing significantly since 2008, we have not seen a real estate bubble environment manifesting. The industry seems to have learned its lessons during the 1997 financial crisis and has successfully implemented the following safeguards: The banking industry has become much more cautious providing project financing and mortgage loans.
Being a developing country, the cost of property in Thailand is much lower than in the more developed European markets. But, on the other hand, prices for Thai property, in general, are rising at a much faster rate.
Real estate developers in 2010 are more cautious and many have professionalized their operations
Thailand’s property market was able to rebound from past crises and there is every reason to believe it will be able to absorb the blow of recent political tensions. The taxation situation has actually improved the conditions for purchasing property in Thailand, and if property prices do dip slightly as a result of the current situation it may actually be a good time to buy as there is a very real possibility Thailand property will regain its golden outlook soon. As a result, the financial condition of most major housing developers in Thailand is much more robust than in the past. The development of the local bond markets and increasing domestic savings has the made the industry much less dependent on foreign funds, a significant difference from 1997.
Falling consumer confidence : The slowing global economy together with unstable local political and economic environments will result in falling consumer sentiment and confidence in Thailand. Consumers will delay home purchases because they will be unsure of current and future incomes – directly affecting real estate demand. The general public will also begin losing confidence in the financial sectors, although not as severely as in foreign countries.