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Condos value near mass transit rose 10 to 20 % a year

Bangkok’s condominium market is expected to slow down next year, but the number of newly launched units could still reach 40,000-50,000 without causing an oversupply.

Daniel Lorenzzo

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bts bangkok sky train

The prices of condominiums close to mass transit have risen significantly, the prices of condos close to the mass-transit system have risen by an average 10-20 per cent a year. Some locations on Sukhumvit Road that had prices averaging Bt78,065 per square metre in 2006 are now priced at Bt121,916 per square metre, up nearly 100 per cent.While a number of property developers have launched new residential projects in this location, demand has continued to grow because of a lifestyle change from big families to small families.

bts bangkok sky train

The newly launched units were located mostly in those peripheral areas of the city where BTS and MRT extensions are planned in the near future.

Most younger people starting to work need to stay by themselves, and as a result select condominiums, either new or on the resale market. Meanwhile, demand for condominiums in areas such as Srinakarin Road, Ngamwongwan Road and Chaeng Wattana Road has also seen high growth because those locations have communities that serve their lifestyle.

via Condos near mass transit see steady rise in prices.

Asia’s property markets are set for a continuous drip feed of tighter regulations in coming months as authorities try to take the froth out of surging home prices without triggering a crash.

Last week Hong Kong announced its fifth set of measures this year as it struggles to curb speculation in its property markets. China, Singapore, Taiwan, Thailand and Malaysia have also unveiled more stringent regulations in recent months.

Although the current outlook for Thailand property has taken a knock and the current political situation needs to be followed closely by potential Thailand property investors, the country’s property market should not be overlooked.

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.

Bangkok’s condominium market is expected to slow down next year, but the number of newly launched units could still reach 40,000-50,000 without causing an oversupply.

This estimated range matches the number of newly launched units from July to November of this year, 48,973, which was higher than for all of 2007, the peak year for the condominium sector.

Phanom Kanjanathiemthao, managing director of the property consultant Knight Frank Thailand, said about 60% of those newly launched units have been sold, demonstrating strong demand for city condos.

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Real Estate

Covid-19 puts flexible space markets under strain

Long-term future of flexible space remains bright says JLL, but the global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space.

Daniel Lorenzzo

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Despite varied market conditions and end-user demand across the region, the Covid-19 outbreak has put some operators under financial strain

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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Real Estate

Thai Cabinet slashes 2020 property tax by 90%

The Cabinet today approved a 90 percent reduction in the Land and Building Tax this year to help the general public cope with economic disruption from COVID-19, and prevent potential issues with land and building taxation in the future.

National News Bureau of Thailand

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BANGKOK(NNT) – The Cabinet has approved a reduction in Land and Building Tax this year of 90 percent to help ease economic disruption from the COVID-19 pandemic.

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Real Estate

Asia Pacific Commercial Real Estate Investment down 23%

While the short-term outlook is weak, and investor sentiment is expected to remain fragile in the coming months, CBRE expects a quick rebound in activity once the pandemic is contained and travel restrictions are lifted.

Daniel Lorenzzo

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Activity in Japan also remained strong, with transaction volume rising 30%

Asia Pacific commercial real estate investment volume fell to US$22.6 billion in Q1 2020, representing a decline of 23% y-o-y* and marking the lowest quarterly total in almost three years, according to the latest data from CBRE.

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