Real Estate
Sukhumvit leads Property growth in Bangkok CBD
The retail, office and central business district CBD condominium sector was strong in the fourth quarter last year and will continue to be so in 2014 due to limited supply, according to property consultant DTZ Debenham Tie Leung Thailand Co.
The retail, office and central business district CBD condominium sector was strong in the fourth quarter last year and will continue to be so in 2014 due to limited supply, according to property consultant DTZ Debenham Tie Leung Thailand Co.
Over 3,000 new condo units were launched in the fourth quarter, bringing the overall number of new launches to slightly over 10,000 units in 2013 compared to 7,300 units in 2012, a record year for the CBD.However, a lack of prime development sites will continue to drive demand for top-quality residential products in desirable locations.
The Sukhumvit zone recorded the largest number of new launches with 1,577 units, representing more than half the total in the fourth quarter.While demand for small and compact condos has been consistently positive over the last two years due to affordable pricing and payment schemes, there is also a burgeoning appetite for larger and more spacious units.
Prime projects, which command exceptional locations and quality, drove average launch prices of super luxury projects up from 193,000 baht per square metre in the first quarter to 225,000 baht in the fourth quarter.The capital value for resale CBD condominium units rose marginally by 0.3% quarter on quarter and 2.6% year on year to reach an average of 87,400 baht per sq m.
Within the CBD, resale activity in Sukhumvit was particularly high as local homebuyers sought value-for-money purchase opportunities from older secondary properties in good locations.CBD condominium projects launched in the fourth quarter recorded an average take-up rate of 60%.Despite dimmer economic performance and declining sentiment in the overall economy, the condo sector managed to attain an absorption level averaging 57% for 2013.
via Property sector set for strong growth | Bangkok Post: business.
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.
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…)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.
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…)
Thailand welcomes first Finnair flight from Stockholm to Phuket
Bangkok, 25 October, 2021 – The Tourism Authority of Thailand (TAT) today welcomed the start of Finnair’s latest direct non-stop...
More COVID-19 restrictions are relaxed in Thailand from 16 October 2021
Bangkok, 16 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that more COVID-19...
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...
Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021
The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign...
The ASEAN-India Trade in Goods Agreement
The ASEAN-India Trade in Goods Agreement (the “Agreement”) is a trade deal between the ten member states of ASEAN and...