Bangkok’s property market impacted by Europe, China slowdown
According to Mr. Ulf Schaefer, Director of Residential Department – Premier Home, Knight Frank Chartered (Thailand) Co., Ltd, the current world events, especially the situation in Europe as well as the slowing growth in China, has many buyers and investors of real estate on edge about the future”.
Flood Impact and Labour Shortage Cools Condo Fever
The top-ten listed property firms have inventory and undeveloped land worth Bt200.29 billion in the first quarter of this year, higher than last year’s average of 5 per cent. This is due to the slowdown in the demand for residences in the first quarter of this year following last year’s floods.
CBRE Thailand wins 4 Property Awards
For the third consecutive year CB Richard Ellis (CBRE) Thailand has made outstanding achievements at the Asia Pacific Property Awards in association with Bloomberg Television. The winners were announced at the gala dinner on 31st May at The Longemont Hotel in Shanghai which was well attended by hundreds of property professionals from across Asia Pacific. The annual event is part of the International Property Awards, the world’s most prestigious competition dedicated to identifying the best real estate professionals across the globe.
Asia’s luxury residential on the rise, but Bangkok lags behind
Despite the latest round of government measures aimed at curbing speculative demand, luxury residential prices in Hong Kong grew by 6.4% q-o-q in 4Q10, due to continuing rental growth and tight supply. On the other hand, prices in Singapore’s luxury prime market remained stable for the second consecutive quarter as buyers remained cautious after recent government tightening measures. Of the eight featured luxury residential markets, five saw an increase in capital values during the quarter, while capital values remained stable in three cities (Singapore, Jakarta and Bangkok) and declined in Beijing. This compares with the previous quarter when five markets recorded an increase in capital values and the remainder saw stable prices.
Thailand’s developer Sansiri switches to low end property market
Thailand’s second biggest property developer, Sansiri PLC, has set itself ambitious targets over the next 3 years in order to capture more of the low end property market. Affordable condos are in demand The company’s chief operating officer, Khun Wanchak Buranasiri recently announced new targets that will see revenue increase by 10% this year to eventually reach THB29 billion (US$947 m) in 2012 and then THB35 billion (US$1.1bn) by 2013