Developers and buyers all want to know the impact on the property market of the 197-kilometre mass transit lines under construction in Bangkok.
These new infrastructure developments, in addition to the 110km of existing mass transit lines, will improve access to and from inner city areas and link midtown areas.
This will affect the property market, especially the residential market. The popularity of each line can be seen from its ridership, as well as the number and prices of residential units along the line. These factors show not all lines are equal.
Currently, the BTS Light Green Line, with 750,000 passengers per day, has seen the most developments of residential, office, retail, and hotel properties.
It is followed by the MRT Blue Line, with 350,000 passengers per day, where developments have been concentrated along Ratchadaphisek road.
For the MRT Purple Line, many condominiums were launched during its construction with high expectations. However, with currently only 51,000 passengers per day, it will be less attractive for developers to invest further in projects along the line until the passenger numbers improve.
Residential developers are also acquiring land plots before the completion of the new lines under construction. Speculative residential property buyers are willing to purchase soon after construction starts on the lines.
End-user buyers who represent real demand only make decisions when they see there is significant progress on the lines and the projects they are planning to buy can be completed about the same time the line becomes operational. Many end users need the line to be operating before they decide to live in the property.
Land and Property Tax Forces Site Owners to Consider Options
The new Land and Property Tax, which will be effective from January 2020 onward, is another challenge for the Thai property market.
Condominium Developers Diversify into Recurring Income Properties
A slowdown in the condominium market has encouraged major residential developers to consider diversifying their portfolio into other property sectors such as office, hotel, and serviced apartment.
Retail in the age of social media
E-commerce is becoming easier and faster, making it increasingly popular. Recently, Instagram introduced a shopping feature that allows users to purchase products within the app.
Social media is transforming retail and expanding the e-commerce world. It goes without saying that the presence of social media in any retail store is critical to its marketing and sales reach.(more…)
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...