In the first quarter Pre-Built Plc mainly received condominium projects in Phuket and in the northern provinces of Thailand. The Phuket Post reported that the listed contractor Pre-Built Plc (PREB) has revised this year’s revenue target to THB 4 billion (US$125.4 million) from THB3.7 billion (US$116 million) as concerns about a contractor shortage and higher costs lead developers to accelerate condominium construction. ctor shortage amid the higher costs.
Pre-Built raises revenue target in Thailand
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.
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.
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.
Thailand’s Ministry of Finance expects 3.5 to 4.5% economic growth in 2022
For next year, the Ministry of Finance is projecting an economic growth of 3.5-4.5% from effective pandemic control measures, incentives,...
This is what global tax reforms could mean for Asia’s tech giants
A new set of agreed global tax reforms will change where tech giants and other global giants pay taxes, explain...
Bank of Thailand warns of risks of cyber theft when using cryptocurrencies
The future looks promising for cryptocurrencies in Thailand after Siam Commercial Bank Pcl - Thailand's oldest private bank- invested 17.85...
The Bachelor Japan Season 4 showcases Thailand
Bangkok, 2 December, 2021 – The Tourism Authority of Thailand (TAT) is pleased to report that Thailand features as the...
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...