Connect with us
The clever new way to send money abroad

Real Estate

Thailand Property – New luxury Condominum project in Sathorn

Sathorn is the epicenter for development as there is a large demand for high-rise residential projects. A new THB 2.3 billion (US$75.4 million) condominium project was announced by Eastern Star Real Estate Plc (ESTAR) to be built in Bangkok’s very own Sathorn district. With already a THB 2.5 billion (US$82 million) expected sales this year, Ratanachai Phatinavin, chief executive, said that his company is going to spend THB 580 billion (US$19 billion) in order to purchase a three-rai plot to develop this luxury condominium.

Published

on

Sathorn is the epicenter for development as there is a large demand for high-rise residential projects. A new THB 2.3 billion (US$75.4 million) condominium project was announced by Eastern Star Real Estate Plc (ESTAR) to be built in Bangkok’s very own Sathorn district. With already a THB 2.5 billion (US$82 million) expected sales this year, Ratanachai Phatinavin, chief executive, said that his company is going to spend THB 580 billion (US$19 billion) in order to purchase a three-rai plot to develop this luxury condominium.

View original here:
Thailand Property – Eastern Star develops in Sathorn

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.


Real estate developers in 2012 are more cautious and many have professionalized their operations

The completion of the Suvarnabhumi-Bangkok International Airport has spurred growth in commercial property markets in eastern Bangkok as well as in the beach resort of Pattaya. Thailand has become even more accessible by air with a wide range if International carriers using Bangkok as a hub. In recent years, there has also been a surge in budge carriers, offering very competitive prices to both local and international destinations.

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.

Land Ownership: In general, non-Thai businesses and citizens are not permitted to own land in Thailand unless the land is on government-approved industrial estates. Under the 1999 amendment to the Land Code Act, foreigners who invest a minimum of 40 million Baht (approximately US$1.2 million) are permitted to buy up to 1,600 square meters of land for residential use with the permission of the Ministry of Interior. If the required land is not used as a residence within two years from the date of acquisition and registration, the Ministry has the power to dispose of the land.

Click to comment

Leave a Reply

Lifestyle

Bangkok falls 19 places to 49th most expensive location worldwide

Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.

Published

on

The decline of Bangkok reflects the severe impact of the Covid-19 pandemic on the rental market in the tourism-reliant Thai economy, according to ECA’s latest survey.

(more…)
Continue Reading

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.

Published

on

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.

(more…)
Continue Reading

Most Read

Recent