Connect with us
CGIF-10th-Year-Anniversary

Real Estate

Suburban Property market is booming in major Southeast Asian cities

Property developers in Thailand all expect growth to pick up in the outer-ring area of Bangkok, suburbs outside of the roughly 5km radius from central Bangkok

Daniel Lorenzzo

Published

on

As the advance of transit systems gives rise to suburban bed towns in Southeast Asia, real state developers are quickly seizing the opportunity to supply homes to the emerging ranks of residents who commute to city centers.

Near the Chatuchak subway stop about 10km north of central Bangkok, real-estate developer Sansiri is building a large condominium comprising about 800 units. The area has few high-rises and is close to the starting station of the Purple Line urban rail service launched in August.

All of the apartments were sold on the first day they went on sale. Some of the buyers were foreign investors from Hong Kong and elsewhere, but many were Thais who plan to live in the complex.

“There is solid demand among those who expect improved convenience in the future,” says Uthai Uthaisangsuk, a senior executive vice president of Sansiri.

The second-largest property developer in Thailand has formed a joint venture with BTS Group Holdings, an operator of elevated railway services that owns land around the routes. The duo will together invest $2.86 billion by 2020 to construct 25 properties, including projects in Chatuchak.

New commercial establishments are also popping up in greater Bangkok. Retail titan Central Group, for instance, opened the CentralPlaza Westgate in Nonthaburi Province in late August last year.

centralplaza

Central Plaza Wrstagate is one of the biggest commercial facility in Southeast Asia

The commercial facility is one of the biggest in Southeast Asia, with about 500 domestic and foreign brand vendors occupying floor space totaling 500,000 sq. meters.

Property developers in Thailand all expect growth to pick up in the outer-ring area of Bangkok, suburbs outside of the roughly 5km radius from central Bangkok. U.S. real-estate giant CBRE projects that condo supply in Bangkok suburbs will increase 15% this year to a record 61,000 units. By contrast, the supply of new condos is seen decreasing in the central city.

Similar projects are expected in other major Southeast Asian cities where railway systems are under development. Improvements in transit systems are creating suburbs that draw residents from nearby villages and city centers.

Source: Property market booming in Southeast Asian suburbs- Nikkei Asian Review

Comments

Real Estate

How COVID-19 regulations are changing landlord-tenant dynamics

The negotiations are dependent on the circumstances of each landlord and tenant, with landlords attempting to strike a balance between maintaining earnings and supporting tenants through the crisis period to sustain occupancy levels and income over the longer term.

Daniel Lorenzzo

Published

on

Hastily enacted regulations addressing a fast-unfolding pandemic have introduced a layer of complexity around leases between tenants and landlords.

(more…)
Continue Reading

Real Estate

Why 5G is racing ahead in Asia

Hong Kong, Seoul, Sydney, Taipei, Manila, Tokyo and Shenzhen have already introduced 5G networks. In May, Bangkok became the first city in Southeast Asia to roll out a 5G network, while Singapore in August started a six-month trial.

Daniel Lorenzzo

Published

on

iStock-1135535759.jpg
Governments and businesses are keen to take advantage of 5G technology like High-speed connectivity, reduced latency and greater reliability

Asia Pacific is leading the charge for the next generation of mobile connectivity. Major cities across the region are rolling out 5G networks this year, which are poised to reshape connectivity and big data with blazing-fast download speeds.

(more…)
Continue Reading

Environment

Real estate Sustainable development spurred by COVID-19 pandemic

There is an increasing awareness of the environmental impact of real estate: the World Green Building Council suggests that buildings are responsible for upwards of 40% of the world’s greenhouse gas emissions.

Daniel Lorenzzo

Published

on

Since the onset of the COVID-19 pandemic, the real estate sector worldwide is stepping up its response to climate change and sustainable development.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,413 other subscribers

Trending