Real Estate & Property Investment News in Thailand from Propertyshowrooms.com

Sales of Pattaya condominiums rise

Mon, 30 Jan 2012 00:00:00 GMT

A significant increase in the number of condominiums sold in Pattaya has been recorded.

Knight Frank Thailand noted a rise of 120 per cent in the volume of transactions completed for this kind of property in the city in 2011, compared with 2010.

However, the firm pointed out the supply of condominiums in Pattaya climbed substantially last year, which has resulted in a lower sales rate in comparison to the number of units available.

The organisation added there is a trend among developers to build more one-bedroom apartments, with the Jomtein district of the city expected to be the location of the majority of the new construction projects.

One-bedroom units are often favoured by investors, head of the residential department at the company Frank Kahn explained; adding this may be one reason why developers are focusing on this size of apartment.

Earlier this month, director of Knight Frank Phuket Nattha Kahapana highlighted the rising level of condominium developments in the Kata and Karon Beach areas of Thailand's western coastal resort, noting a lack of affordable land in sought-after districts like Patong Beach is encouraging construction firms to look elsewhere.

Phuket's condominium supply to grow in Kata and Karon

Mon, 16 Jan 2012 00:00:00 GMT

During 2011, the Kata and Karon Beach areas of Phuket, Thailand, emerged as top locations for new condominium developments.

Nattha Kahapana, director of Knight Frank Phuket, revealed that last year, these two regions accounted for 59 per cent of the new supply in the condominium market.

He noted one of the main reasons for the rising number of new projects in Kata is the affordability of land in the district, compared to the most desirable area along Patong Beach.

Mr Kahapana added there is very little free space on this sought-after strip of land, which adds to the appeal of less-developed regions like Karon Beach and Kata.

A report published by CB Richard Ellis (CBRE) Thailand last year revealed there was an increase in the number of new condominium projects launched in Phuket during the third quarter of 2011.

However, the firm noted affordability is one of the key issues driving buyers in the marketplace, with demand strongest for Phuket properties in the under ten million Thai baht (£204,656) price bracket.

Tips offered for buying Thai condominiums

Wed, 21 Dec 2011 00:00:00 GMT

Investors who are considering purchasing a condominium in Thailand have been offered some advice about how best to proceed.

An article in The Nation explained it is essential for potential buyers to view at least four or five different properties in order to get a good overview of the market.

The publication noted that, since the flooding earlier this year, demand for apartments in high-rise buildings has increased.

However, the news provider added the average cost of buying such a property in Thailand has decreased slightly, largely due to the rising number of mid-market units now on sale, as opposed to the luxury condominiums that previously dominated the sector.

Last month, executive director of CB Richard Ellis (CBRE) Research and CBRE Consulting Thailand James Pitchon wrote in the Bangkok Post that the flooding will have a "vast impact" on the real estate market.

He predicted buyers will become more conscious of the flood defences offered by the different developments, while condominiums will be favoured over houses, particularly in areas affected by the natural disaster.

Housing developers 'showing more caution' in Thailand

Fri, 2 Dec 2011 00:00:00 GMT

Developers in the Thai real estate industry are exhibiting a greater degree of caution in their investments, it has been claimed.

A report published by CB Richard Ellis (CBRE) Thailand noted that a slowdown in demand from speculators has largely driven the change.

In Bangkok, firms that are purchasing land for construction projects are focusing on the area around the route of the new purple line railway system, the organisation revealed.

The track, which is currently under construction, is scheduled to open in 2014 and will provide train services between Bang Phai Canal and Tao Pun.

Meanwhile, developers are rushing to apply for building permission at many sites across Thailand, CBRE found, because proposed alterations to town planning regulations may make it more difficult for projects to get the go ahead.

One of the main changes being suggested under the new rules is a further restriction on the size of building that can be constructed on narrow roads, the firm highlighted.

2012 recovery predicted for Thai property

Mon, 28 Nov 2011 00:00:00 GMT

The Thai real estate market will recover next year, one expert in the industry has stated.

Speaking to The Nation newspaper, chief executive of Raimon Land Hubert Viriot described the floods that have hit Bangkok recently as "a one-off event", adding that it would not affect the firm's expansion plans.

According to the publication, demand for new homes helped Raimon Land's presales climb by 23 per cent during the first nine months of this year, compared to the same period in 2010.

The company has also announced that it will embark on a construction project in Pattaya to deliver a condominium development.

An article written by James Pitchon, executive director of CB Richard Ellis (CBRE) research and CBRE consulting, Thailand, for the Bangkok Post earlier this month predicted that the flooding will have an impact on the city's property market going forward.

He noted that, in terms of residential sales, buyers are likely to favour condominiums over houses as belongings are less likely to be damaged by such natural disasters in high-rise buildings, while there will also be a focus on the flood protection measures in place at specific developments.

Flooding 'will affect Bangkok property market'

Thu, 3 Nov 2011 00:00:00 GMT

The recent floods that have hit Bangkok and other parts of Thailand will have an impact on the real estate sector in affected areas, it has been claimed.

According to CB Richard Ellis (CBRE) Thailand, there will be changes to the demand among those looking for residential properties in Bangkok.

High-rise condominiums are likely to see increased demand, the organisation noted, while districts such as Lumpini, Silom, Sathorn and parts of Sukhumvit will be the top targets for buyers.

In addition, CBRE suggested that investors will be more savvy when it comes to building design, looking for flood prevention features on the Thai properties they are considering buying, for example.

Meanwhile, the firm also predicted that destinations such as Pattaya, Hua-Hin and Chonburi will benefit as more people turn to housing outside the capital.

Last month, CBRE revealed that demand for rented apartments in Bangkok remains strong, particularly among foreigners.

The organisation cited a lack of supply of such properties, coupled with the rising popularity of apartments over condominiums, as the main factors driving forward this sector of the market.

Thai real estate 'displays mixed performance'

Tue, 1 Nov 2011 00:00:00 GMT

The performance of real estate assets in Thailand is mixed, with some markets faring considerably better than others.

Research released by Savills revealed that Bangkok's property sector is one of the most active in the country, with Pattaya also experiencing strong demand from both domestic and international buyers.

However, the firm noted that the picture is different in many of the country's other resort markets, where take up of residential real estate remains "subdued".

Phuket was singled out as one of the locations where the global economic climate has weighed on investor demand for homes in the area.

Robert Collins, chief executive officer at Savills Thailand, cautioned that Bangkok may not be such a buoyant market next year.

He explained that there are concerns among property investors "as supply is now recognised as likely to exceed rental occupier demand in 2012".

Meanwhile, worries continue over the severe flooding that has hit Thailand this month, with Bangkok among the areas affected this weekend by the rising waters of the Chao Phraya River.

Foreigners in Bangkok 'looking to lower and mid-priced properties'

Wed, 7 Sep 2011 00:00:00 GMT

An increasing number of foreigners living in the Thai capital are turning their attention to properties at the lower and middle end of the market, it has been noted.

The Bangkok Post reported that a shift is taking place among expats in the nation, who are looking for homes in Thailand away from the expensive and crowded city centre.

Speaking to the publication, Patima Jeerapaet, managing director of Colliers International Thailand, said that buyers are focusing on areas along the skytrain's extension lines.

He explained that the district of Thon Buri is popular because there are not many high-rise buildings, while Bang Na is favoured due to the number of international schools located there.

The news provider also revealed that the population in suburban parts of Bangkok has increased by more than 30 per cent over the ten years between 2000 and 2010.

Meanwhile, the luxury end of the Bangkok property sector has seen prices fall during the second quarter of this year due to reduced demand from investors, CB Richard Ellis found in a recent report.

Thailand's luxury property market 'remains static'

Wed, 31 Aug 2011 00:00:00 GMT

The luxury property market in Bangkok was broadly static during the second quarter of the year, new figures show.

Research published by CB Richard Ellis (CBRE) showed that this sector of the Thai real estate industry has seen a slight fall in capital values in this period, in part due to a reduction in the number of buy-to-let investors entering the sector.

CBRE has predicted that this weakening in demand among investors is likely to "exert further downward pressure on prices in the third quarter".

However, the firm noted that average rents rose marginally, due to tenant demand for higher-quality accommodation.

But the number of transactions of residential property in Bangkok increased by over 1,500 during the second quarter, compared to the first three months of the year.

Earlier this month, chairman of Jones Lang LaSalle Thailand Longlom Bunnag told Property Report South East Asia that the peaceful elections in the country have helped encourage investors to come back to its real estate market.

Foreign investors 'returning to Thai property market'

Wed, 24 Aug 2011 00:00:00 GMT

There has been an increase in foreign buyers on the Thai real estate market since the country held peaceful elections earlier this month, it has been noted.

Chairman of Jones Lang LaSalle Thailand Longlom Bunnag told attendees at an event sponsored by Property Report South East Asia that investors viewed the successful elections as "a good sign for the country".

Meanwhile, managing director of Colliers International Thailand Patima Jeerapaet stated that buyers were coming from all over the world, including Singapore, China, Australia, the Middle East, Britain and Japan.

He added that Russian investors appear to be particularly interested in property in Pattaya and Phuket.

Last month, one expert described the Thai real estate industry as having "high growth potential".

Speaking in an interview with Property Report, business development manager at Dalvey Developments Noel Goh stated that the nation was becoming increasingly attractive to international investors as it is "shrugging off political uncertainties".

Property developer 'sees promise' in Thai real estate

Wed, 20 Jul 2011 00:00:00 GMT

A Singapore property development company has decided to invest in a series of condominium projects in Thailand over the coming year.

Speaking to Property Report, business development manager at Dalvey Developments Noel Goh described the Thai real estate sector as "a very attractive market with high growth potential".

"Moreover, property prices remain low when compared to neighbouring countries," Mr Goh added.

Currently, one billion Thai baht (£20.77 million) has been allocated for the schemes by Dalvey Developments, with the potential for further investment in the condominium market.

According to one Asian real estate expert, buyers from Hong Kong are increasingly being drawn to high-end properties in the Thai capital.

Executive director for investment and project marketing at CB Richard Ellis Rebecca Shum told the Bangkok Post that the city is a "top-two destination for lifestyle" from the point of view of Hong Kong investors.

She added that a rise in optimism about Thailand's political and economic conditions is helping boost the luxury property market in the nation.

Positive outlook for Thai commercial real estate

Mon, 11 Jul 2011 00:00:00 GMT

Commercial real estate in Thailand appears to have a positive future, according to the latest research from Business Monitor International.

The organisation's Thailand Real Estate Report revealed that more than 200 new projects to build condominiums and other apartments are due to start in Bangkok during 2011-12.

According to the study, attempts by the Thai government to restrict access to credit for buyers of such residences have had a minimal effect on the market.

In addition, it noted that vacancy rates in the city's offices have improved compared to 2010, while new infrastructure schemes are also expected to boost the appeal of Bangkok.

Managing director of Jones Lang Lasalle Suphin Mechuchep recently commented that political stability is required if real growth in the property sector is to be realised.

She stated: "It is clear that confidence in Thailand's real estate market relies a lot on the country's political situation." Ms Mechuchep added that the slow pace of recovery for the industry compared to the nation's strong economic growth is a case in point.

Thai property experts press for changes to foreign home ownership policy

Wed, 15 Jun 2011 00:00:00 GMT

Officials in Thailand are lobbying the government to review its policy towards foreign home ownership.

The Joint Foreign Chambers of Commerce in Thailand (JFCCT) and real estate consultants are keen for less restrictions to be placed on the sector.

They warn that if changes are not implemented, many buyers will simply go elsewhere.

JFCCT is lobbying for the introduction of a 60 year registered lease term, double the current 30 years.

"Properly handled, the contribution to the wider Thai economy could be significant without any material risk to issues of sovereignty or adversely affecting social or economic conditions," the company says in a new report.

The firm draws attention to the less-restricted markets of other countries in the region, such as Hong Kong or Singapore, where the sector is booming.

"In response to the global crisis, Singapore has liberalised its foreign ownership laws and launched for the first time landed villas at Sentosa which were targeted at new overseas investors and have been a resounding success," the report added.

Experts forecast fall in Thai property market

Sat, 28 May 2011 00:00:00 GMT

Experts have forecast a ten to 15 per cent drop in prices within the Thai property market for 2011.

At the recent Property Market Outlook in 2011 seminar, analysts indicated that buyers should be able to take advantage of a fall in values, Property Report states.

According to the experts, high interest rates, rising inflation and increased construction costs are all contributing to the decline.

However, it is hoped that new government measures will go some way to improving market conditions.

The new interest-free loan programme is hoped to push those who had been considering purchasing to go ahead and buy while they are still able to take advantage of it.

It follows comments from the Phuket Chapter of the American Chamber of Commerce which suggested that the Phuket real estate market is maturing, with investors able to take advantage of the current low prices in the region.

Adam Smith, market analyst for Ocean Villas Group, said that in the wake of the global financial crisis "we have seen a large increase in demand for re-sale property" in the city.

Phuket property market 'maturing'

Fri, 20 May 2011 00:00:00 GMT

Individuals searching for property in Thailand will be encouraged by recent comments from the Phuket Chapter of the American Chamber of Commerce.

According to the organisation, the Phuket real estate market is maturing, with investors able to take advantage of the current low prices in the region.

"Following the global financial crisis we have seen a large increase in demand for re-sale property in Phuket and throughout Thailand," Adam Smith, market analyst for Ocean Villas Group, said.

He added that the trend is expected to continue for the coming few years until property investors in Thailand are willing to accept greater levels of risks in exchange for higher returns.

The view was echoed by Andrew Langdon of Jones Lang LaSalle who noted that Phuket is recovering well and comfortably outperforming rival cities.

Meanwhile, CB Richard Ellis recently claimed that limitations on foreign ownership in Thailand are preventing overseas buyers from entering the market.

Thai restrictions having 'no negative effect' on property market

Wed, 6 Apr 2011 00:00:00 GMT

Limitations on foreign ownership in Thailand are preventing overseas buyers from entering the market, it has been claimed.

Bangkok, in particular, did not witness any notable deals and income through real estate during the fourth quarter of 2010, a new report from CB Richard Ellis (CBRE) has claimed.

"Although there have been concerns regarding the influx of foreign capital into Thailand, the various restrictions on foreign investment ensured the real estate investment market remained largely dominated by domestic players," the consultancy confirmed.

Indeed, CBRE explained that the market was completely dominated by local buyers following a decision to raise the policy interest rate three times in the second half of 2010.

The Bank of Thailand also announced that it would be decreasing LTV's for condominiums to 90 per cent and LTV's for houses to 95 per cent.

Despite this, CBRE concluded that the moves have not had any major negative impacts on the property market, with Thailand's major property firms even announcing dozens of new building projects for 2011.

Developers still after new land in Thailand

Fri, 18 Mar 2011 00:00:00 GMT

Property developers in Thailand are continuing to acquire land for new residential projects, new research has found.

The news comes despite recent announcements from the Bank of Thailand that it would be decreasing LTV’s for condominiums to 90 per cent and the LTV's for houses to 95 per cent to cool the property market, according to CB Richard Ellis (CBRE).

It could lead to an increase in the number of individuals looking to buy property in Thailand, with a number of new homes due to enter the market.

Over the past year, there has been growing concern about the level of foreign investment heading into the country, which has resulted in the national bank raising interest rates.

However, CBRE noted that yield for property investment did not change significantly and money is still being driven into the market.

"There have been significant foreign inflows into the Thai bond and stock markets but virtually no significant foreign investment into the Thai property market," the consultancy said.

Sea-front properties in Thailand performing strongly

Wed, 9 Feb 2011 00:00:00 GMT

Luxury homes facing the sea are among the best-performing on the Thai island of Phuket, according to CB Richard Ellis' latest real estate report.

The firm's Residential Market View for Q3 2010 has highlighted the recovery of tourism to the island as one of the major factors in the rebound, adding that this trend will continue as the year progresses.

According to the report, properties that have sea frontage, an established reputation and entry level projects are among the best performing sectors of the real estate market.

CBRE estimates that approximately 84 per cent of units in completed buildings have been sold and the average asking price of condominiums by developers is approximately THB 90,000 per square metre.

The company also said that the number of international passenger arrivals to Bangkok Airports increased by a total of six per cent in December and international arrivals to Phuket increased by 25 per cent.

Thai property market to slow as a result of oversupply

Fri, 3 Dec 2010 00:00:00 GMT

Local developers in Thailand have predicted a slowdown in the country's property market over the next couple of months as concerns surrounding oversupply take hold.

However, positive sentiment is expected to return again early next year, with the sector expected to get back on track, Property Report explains.

Mayta Chanchamcharat, director of Pruksa Real Estate, said concerns about a possible property bubble in Bangkok have calmed the market due to a retreat of speculators and investors.

"Due to the market concerns of some areas being flooded by oversupply and the property bubble, the market now doesn't seem to absorb the existing supply of residential units as fast as before," he added.

In addition, Mr Chanchamcharat said that the Bank of Thailand's announcement that it would be capping condominium mortgages at 90 per cent from January 1st was also making investors hesitate.

Meanwhile, earlier this year the news provider reported that the country's Agency for Real Estate Affairs had raised concerns about the possible formation of a bubble in the real estate market.

Warnings sounded about property bubble in Thailand

Thu, 18 Nov 2010 00:00:00 GMT

Concerns surrounding the creation of a property bubble in Thailand have been raised by the country's Agency for Real Estate Affairs (AREA), Property Report has revealed.

AREA has warned that, if created, the bubble may burst if the planned numbers of launched units are completed in a few years time.

Indeed, the news provider explains that a total of 107,508 units spanning 398 developments may be underway by the end of the year, compared to just 57,604 units from 283 developments in 2009.

And AREA president Dr Sopon Pornchokchai warned that there was a genuine risk of the bubble bursting if the market continues to grow at the same pace as this year through to 2012-13.

"It will lead to an oversupply in the market. Resale prices and rents will also drop accordingly," he told the news provider.

"This would cause troubles to financial institutions that currently extend high-percentage mortgage loans, also to shareholders of those financial institutions, and last but not least to the overall Thai economy."

Luxury buyers return to Thailand

Wed, 13 Oct 2010 00:00:00 GMT

There has been an increase in demand for luxury real estate in popular holiday destinations in Thailand, firms in the region are reporting.

For example, the Met at Sathon, which suspended sales two years ago, has seen a resurgence of demand for luxury residences and has reopened sales for the final 40 units in one of its major developments.

In addition, Pace Development, which has two luxury projects, said it has seen rising demand for both of them over the past two months, resulting in sales worth Bt600 million.

The news may interest individuals looking for Prachuap Khiri Khan property for sale or for property in Chon Buri.

Demand is being driven by an increase in foreign investment to the country, with buyers from Europe, Hong Kong, Singapore and India boosting confidence in the region.

According to David Simister, chairman of property consultants CB Richard Ellis, the medium and long-term demand for residential projects in areas of Thailand has recovered significantly.

Thai economy shows significant growth

Wed, 25 Aug 2010 00:00:00 GMT

The Thai economy grew by 9.1 per cent in the second quarter of the year, according to the latest figures, which could be good news for anyone looking for property in Chon Buri.

This was compared to 12 per cent growth in the first three months of the year and came amid political violence and protests in April and May.

High global demand boosted exports from the country, which grew by 42 per cent in the three months to June, fuelled mainly by shipments of auto parts and electrical appliances.

Investment also grew, following five consecutive quarters of contracting.

Earlier this month, it was reported that the Asia Pacific region is leading the global property recovery, with recovery in Europe and America being more laboured.

According to the second quarter International Residential Review from Chesterton Humberts, recovery in the region is being fuelled by both lifestyle and investment buyers, with demand remaining "firm".

Protests have 'not impacted on Thai property market'

Wed, 11 Aug 2010 00:00:00 GMT

The protests which took place in Bangkok earlier this year have had little effect on the Thai real estate market, property investors will be interested to hear.

According to CB Richard Ellis, there has been little change in the property sector in recent months, and real estate developers are again marketing new projects, reports Property Community.

"There are limited investment choices in Thailand, the stock market is seen as being volatile, the fixed income market is very small and so money is being driven to the property market," said the firm's executive director James Pitchon.

"Interest rates are going to have to rise substantially before people decide that keeping money in the bank on deposit is better idea than investing in property."

Last month, Property Abroad suggested that Thailand's property market could benefit from the political turmoil, with the issues within the nation creating a low-cost environment which will appeal to savvy buyers and is likely to lead to some good yields.

Thailand property market to benefit from recent political turmoil

Tue, 20 Jul 2010 00:00:00 GMT

The recent political turmoil in Thailand may have resulted in a more favourable climate for foreign property investors looking at the Asian destination.

Property Abroad has claimed that the problems within the country have led to the formation of a low-cost environment which is likely to appeal to savvy buyers.

Now that prices have fallen again due to the financial crisis and the political crisis, Thailand is undoubtedly likely to bring some high yielding property investments over the next four to five years," the website claimed.

"Though, with the political situation as tinder-dry as it is, it will be an investment not for the faint hearted."

Meanwhile, a leading tour operator has recently stated that bookings to the country are beginning to increase following the political troubles.

Hayes and Jarvis explained that many holidaymakers were looking to take advantage of good deals now available in the long-haul market.

In addition, the Tourism Authority of Thailand announced that it would be running a range of promotional strategies to tempt visitors back.

Official figures show that there was a 6.8 per cent decline in visitor numbers in June compared to last year.

Thailand experiencing tourism revival

Mon, 12 Jul 2010 00:00:00 GMT

Individuals with property in Chon Buri, Thailand, may be pleased to hear that the country is experiencing strong bookings once again following a period of political uncertainty, a leading tour operator has suggested.

Hayes and Jarvis has revealed that despite all the recent troubles experienced by the Asian destination, the availability of cheap flights has contributed to an upturn in fortunes.

Neil Alobaidi, commercial director for the global tour operator, explains that there are some good deals for holidaymakers to take advantage of in the long-haul holiday market.

"While the political instability definitely dented bookings in the short term, while the country was hitting the headlines, Thailand has now turned the corner and bookings for Phuket and Koh Samui are exceptionally strong," he adds.

Mr Alobaidi's comments come after the Tourism Authority of Thailand announced that it would be running a range of promotional strategies to tempt visitors back.

Official figures show that there was a 6.8 per cent decline in visitor numbers in June compared to last year.

Thailand emerging as a popular holiday destination

Mon, 26 Apr 2010 00:00:00 GMT

Thailand is emerging as a favoured destination for Brits looking to take a break, it has been revealed.

According to luxury travel company Kuoni, the Asian destination offers visitors a wealth of culture and exciting sights to explore.

Jemma Purvis, a spokesperson for the company, explained that it had been busy over the Easter break, with many families looking to explore the up-and-coming destination.

"It is popular due to its vast diversity and great value, with many hotels providing facilities for children. They will also be kept entertained by stunning beaches and amazing sights," she explained.

In addition, Ms Purvis claimed that bespoke properties were proving to be popular among individuals visiting the country.

The news may be of interest to real estate investors in Thailand who are looking to rent out their properties to overseas holidaymakers.

Furthermore, figures released by Sainsbury's Travel Money revealed that the volume of Thai baht exchanged over Easter had risen 107 per cent, compared with a typical week at that time of year.

Interest in Thailand is picking up

Fri, 23 Apr 2010 00:00:00 GMT

The property market in Thailand is beginning to attract an increasing amount of overseas investors, it has been reported.

According to Overseas Property Professional (OPP), the new year has brought with it a change in fortune for the Asian destination, which has seen dwindling interest from abroad since the boom of 2007.

The growth in market activity has led to one developer deciding to re-launch its luxury resort in an attempt to tempt investors.

Richard Shearer, managing director of Prism Estates, explained that the project, in Phuket, will be supported by an increase in marketing expenditures to drive sales.

"We saw a marked shift in attitude at the turn of 2010 and this has continued with an increased amount of interest over the past few months," he told OPP.

Investors in the region will be pleased to hear that prime real estate in the country managed to resist the global economic crisis well, with Knight Frank's Wealth Report claiming that prices have risen by five per cent over that period.

In addition, the report predicted that 2010 will see further growth of between five and ten per cent.

Last year, ReportBuyer.com claimed that tourism in Thailand would also rise by five per cent year-on-year.

Land prices in Thai capital on an 'upward spiral'

Wed, 14 Apr 2010 00:00:00 GMT

Investors looking to bolster their property portfolio in the Asian market may be interested in news that land prices in the Thai capital of Bangkok have increased by 88 per cent in the last three years.

According to data released by Biswanger Brooker, the cost of land in prime locations in the centre of the city has spiralled upwards since 2007 and is predicted to continue doing so in the future.

Nigel Cornick, chief executive of the company, revealed that limited supply coupled with high demand were driving factors behind the increases.

In addition, recent activity in the market has been bolstered by the Thai government's decision to postpone the transfer fee, stamp duty and business tax on purchases until May 31st.

Mr Cornick said: "There is very strong demand for compact but high-end residential condominiums in downtown locations from the domestic market which is boosting land values.

"Some of the developers also plan to construct hotels on the prime plots, which further demonstrates that this is an asset class that local investors still have confidence in."

ReportBuyer.com predicted that last year Thailand would see a five per cent year-on-year growth in its tourism market.

Thailand and other Asian markets performing well

Tue, 30 Mar 2010 00:00:00 GMT

Far East destinations will begin to offer an increasing amount of options for foreign investment this year, a new report has stated.

According to the latest Wealth Report conducted by property consultants Knight Frank, emerging markets in the region - such as Thailand - are potential hotspots for canny real estate investors.

The publication, which examines locations from around the globe and comments on the opportunities available in them, has provided a positive outlook for the Asian market in general, with other destinations like Vietnam and Cambodia also mentioned.

In particular, high-end apartments in Thailand's capital Bangkok or luxury villas in Phuket have proven to be popular choices for investment.

Both regions are expected to benefit from the country's recovering economy and post improvements during 2010, the report noted.

However, land ownership issues and a lack of infrastructure have meant that investment and development has been restricted outside of the major cities.

Phanom Kanjanatheimthao, managing director of Knight Frank Thailand, explained: "People spending millions on a villa generally don’t want to be too isolated in case anything happens like a medical emergency."

Thai-based newspaper the Bangkok Post recently claimed that the property market in the city of Pattaya would post increases this year.

Thai beach resort property revival expected

Wed, 24 Mar 2010 00:00:00 GMT

The Thai beach resort town of Hua Hin is expected to experience a property market revival in the next year, it has been reported.

According to Thai newspaper the Bangkok Post, local broker Engel and Volkers has painted a positive picture for the market thanks to numerous buyers overcoming concerns regarding political instability in the country.

It revealed that although prices will not post big gains this year, an increasing amount of potential investors had been expressing an interest in the area, looking to take advantage of potential rising prices.

Oliver Lutzi, Hua Hin office manager of the brokerage, claimed that the market currently belonged to the buyer, with prices reasonably stable due to the fact that "economic turbulence has only had a marginal impact on property" in the region.

Furthermore, the newspaper also reported that the property market in the Thai city of Pattaya will also experience growth this year.

It stated that a pick up of around five to ten per cent was likely to occur thanks to rising property costs.

Growth predicted in Thai housing market

Tue, 16 Mar 2010 00:00:00 GMT

The property market in the Thai city of Pattaya is expected to post growth of between five and ten per cent this year, according to one firm.

Asian newspaper the Bangkok Post revealed that the region, located on the country's east coast, will begin to pick up again after a disappointing previous year.

Jugkarut Ruangratanakorn, vice president of Ratanakorn Asset Co Ltd, a property company in the city, said that despite political tensions in Thailand the market would benefit from rising property costs.

However, Mr Jugkarut warned that there were still hurdles to overcome if the growth was to be sustained.

Decreasing tourism, oversupply and low confidence among buyers could all have a significant effect on the final outcome of the housing market in the area.

"If property prices rise by 20-25 per cent a year on average for five consecutive years, an exit strategy should be applied. This is a sign to step back. Remember that risk management should be always done."

Potential investors to the area may be interested to know that there is a wealth of tourist attractions in and around the city, ensuring it remains a popular destination for foreign visitors.

Property tax increases 'will not stop demand' in Thailand

Tue, 9 Mar 2010 00:00:00 GMT

Thailand's housing market is unlikely to be affected by the government's decision not to renew its property tax breaks, it has been claimed.

According to a report by Overseas Property Professional (OPP), property developer CB Richard Ellis is confident that the removal of the incentive is not going to affect international sales within the country.

The developer believes that the housing market is now strong enough to stand alone without needing to attract investors.

CB Richard Ellis's executive director for Thailand, James Pitchon, explained to OPP that the incentives did not include projects due to be finished after March 2010.

He continued: "In the Bangkok market, Thai buyers dominate the market and the removal of incentives will have little affect on foreign demand because it is already limited.

"In the resort markets, many projects are sold on a leasehold basis and leasehold sales did not benefit from tax incentives so again we see little impact on foreign demand from the removal of incentives."

Some developers within the country have claimed that the tax rises could result in a reduction in profits.

The International Valuation Standards Council recently introduced new guidelines aimed at making Thailand's property market more transparent.

Thai property set for price increases

Mon, 8 Mar 2010 00:00:00 GMT

The Thai property market is bracing itself for price increases at the end of March after government officials decided that they would not be renewing tax breaks.

According to a report on Property Wire, the decision was made after news that the country's economy was in recovery and many developers are now running at a profit was released.

Incentives including reductions in property transfer fees and lower mortgage registration costs have helped to boost sales in 2009 by as much as seven per cent.

It will mean that the current transfer tax - set at 0.01 per cent - will rise to two per cent while mortgage registration fees will increase from 0.01 per cent to one per cent.

The news may be of interest to individuals looking to purchase property in the Asian country, who will have to move quickly to take advantage of the reduced costs.

Land & Houses, the country's largest developer, explained that the changes would result in single figure, rather than double figure growth for the coming year.

The International Valuation Standards Council recently introduced guidelines that will make the Thai property market more transparent.

New guidelines to increase transparency in Thai property market

Fri, 26 Feb 2010 00:00:00 GMT

Property investors in Thailand are set to benefit from the introduction of new guidance which aims to make the market more transparent.

The new guidance was issued by the International Valuation Standards Council and has been welcomed by property developers within the region.

Simon Landy, executive chairman of Colliers International Thailand, believes that it is a step in the right direction and will bring clarity to house valuation.

He explained: "This new guideline will provide an internationally-recognised benchmark which will assist in bringing transparency and clarity to valuations of incomplete property assets.

"With the anticipated level of merger and acquisition activity in international markets over the next few years, more certainty is required in the way these values are established."

Last year, Patima Jeerapaet, of Colliers Thailand, said during an interview with ScandAsia that he was lobbying the country's government to increase the length of leases overseas investors can take out.

If successful it could act to encourage individuals looking to buy overseas homes in the country.

Bid to give Thailand investors more rights

Thu, 17 Dec 2009 00:00:00 GMT

Overseas property investors in Thailand should enjoy more rights, it has been argued.

In an interview with ScandAsia, managing director of Colliers International Thailand Patima Jeerapaet said he is helping to lobby the country's government to increase the length of leases overseas investors can take out.

"Right now, foreigners can only lease 30 years and we have proposed to extend it since we think it is too short a period," he stated, adding that other Asian countries allow 70-90 years.

Mr Jeerapaet is pursuing this cause in his role as chairman for the joint foreign chamber of commerce of the property committee.

Such a move could encourage those looking to buy overseas homes and thinking of choosing Thailand.

The country's property market is set to see a full recovery in 2010, according to Industrial Buildings Corporation.

It is expecting the improved sentiment of recent months to manifest itself in tangible terms next year, Property Report Asia notes.

Luxury property 'defies Thai slowdown'

Fri, 4 Sep 2009 00:00:00 GMT

The luxury end of Thailand's villa market has remained buoyant, a new report has stated.

A study by consultants C9 Hotelworks has found that the value of luxury villas in the resort of Phuket has reached BT3.5 billion (GBP6.3 million) in the first half of 2009.

This upturn has seen the top end of the market defy the downturn that has left the wider property sector in the country still in the doldrums, C9 said.

Managing director of the firm Bill Barnett stated: "While market recovery prospects are being set back to 2011, there has continued to be a gradual upswing in activity."

He said this was due to "financial source markets" improving sooner than expected in countries where overseas buyers of Thai property are from.

Thailand and the south-east Asia area is set to see its prices stabilise and recover in the year ahead, The Star Business noted last week.

CLSA Asia-Pacific research suggested Thai homes would either be stable or see slight increases next year, the paper noted.

Thailand property shares 'go up in value'

Wed, 26 Aug 2009 00:00:00 GMT

Property shares in Thailand have exhibited an increase after the country was buoyed by developments in the US market.

Predictions of low interest rates, an improved economic outlook and a rise in consumer confidence have all contributed to the nation's property sector index leaping 2.6 per cent yesterday to its highest level in 12 months (August 24th), Reuters reports.

Homebuilder Land & Houses saw a rise of 4.8 per cent in its share value - up to THB6.60 (GBP 0.12) - which is an 11-month peak for the company.

Meanwhile, Quality Houses experienced a year high of THB2.08 when its stocks climbed 5.6 per cent.

According to the news source, Thailand emerged from its worst recession in 11 years in the second quarter of 2009.

The Thailand Property Awards 2009 will be held at the Grand Hyatt Erawan Bangkok Hotel on November 7th to celebrate the country's real estate and construction industries.

Thai developers 'adjusting to the economic downturn'

Fri, 7 Aug 2009 00:00:00 GMT

The economic downturn has resulted in developers in Thailand making changes to the types of properties they have available.

This is the view of Marcus Burtenshaw, director at Knight Frank Chartered Thailand, who told Property Report Asia that many are carrying out more market research to ascertain trends among those looking to purchase real estate in the country.

Noting that the high-end market in the country has suffered of late, he told the news source: "Developers might find that projects directed to the mid-range or budget end will be more successful."

Mr Burtenshaw added that construction is still continuing despite the financial crisis, with lower commodity prices meaning that developers are "pushing ahead with carefully considered projects".

Elsewhere in Asia, the Global Property Guide for 2009 recently stated that the effects of the global economic downturn on the property market in Malaysia have been minor.

It ranked the country as ninth out of a total of 91 territories.

Bangkok property market has "stagnated"

Sat, 7 Feb 2009 00:00:00 GMT

Investment in Bangkok's property market remains low, despite an increase in the number of properties available in the Thailand capital, a new study has concluded.

Research by real estate services firm Jones Lang LaSalle revealed that there is still disparity between the price expectations of buyers and sellers.

Managing director of the firm's Thailand branch Suphin Mechuchep stated that while interest in the market is still strong, actual investment activity in recent months has "stagnated".

"Investors are mostly looking for distressed assets offered at deeply discounted prices. At the same time, sellers refuse to dispose of their property assets at a loss," he explained.

And Jones Lang LaSalle's director of investments Umpon Thepnumsommanus noted that while the firm has received a number of enquiries regarding real estate, the vast majority are buyers looking for distressed assets.

Property expert Nick Marr recently claimed that Thailand offers "great potential" for investment, as it has attracted the interest of developers, airlines and holidaymakers.

Thai islands "great places to invest"

Thu, 5 Feb 2009 00:00:00 GMT

New flights to Phuket and Koh Samui are providing alternatives for property investors considering making a purchase in Thailand, it has been claimed.

Ethiad Airways and Bangkok Airways have both introduced further routes to the islands following demand from consumers and property expert Nick Marr has stated that their appeal as holiday destinations makes them "great places to invest".

"These destinations offer … some of the world's most luxurious properties," he explained, adding that homes on the two islands are priced so as to attract "both Thai and international buyers".

And he noted that many of the homes are available at a "fraction of the cost of traditional locations", news that may be welcomed by investors who may have been priced out of property markets elsewhere in the world.

Bangkok's Soi Thonglor area has also been cited as a possible area for investment, with The Nation stating that it is seeing continued development of luxury properties.

"Great potential" for Thailand property

Wed, 4 Feb 2009 00:00:00 GMT

Thailand offers "great potential" to overseas property buyers, one real estate expert has claimed.

Nick Marr, chief executive officer of Homesgofast.com, stated that the country has attracted the interest of developers, airlines and holidaymakers and that those looking to purchase homes abroad should also consider the location.

Noting that Thailand has not been immune from the global economic downturn, Mr Marr said that "the groundwork for recovery is being laid for a healthy property market", stating that he expects the sector to recover during 2010.

"The property market in Bangkok has a large unsold inventory of condos that offer very low prices," he explained, adding that demand for these properties is likely to increase when investors discover the selection of cheap investment opportunities that are available.

According to a recent study by CB Richard Ellis, demand for houses in Thailand's capital, Bangkok, fell during the third quarter of 2008, with supply of apartments in the city totalling over 10,000 in December of last year.

Soi Thonglor 'defying Thailand property turndown'

Mon, 2 Feb 2009 00:00:00 GMT

The Soi Thonglor area of Bangkok has defied the falling demand for property in Thailand by seeing continued development of luxury properties, it has been claimed.

According to the Nation, seven luxury developments are currently under construction in the area.

A survey by the news source revealed that Soi Thonglor is the most popular of a number of luxury locations in the country that are bucking the growing trend for developers to build quick to construct low-rise homes that are able to deliver short-term rental returns.

Srettha Thavisin, president of construction firm Sansiri, said that the company has seen continued strong demand since the turn of the year, a fact that may interest property developers looking to move into Thailand's high-end rental market.

Another potential property location seeing an upturn amid the current economic crisis is the Western Cape region of South Africa, which has experienced a rise in the average price of property.

Airport security bill approved

Wed, 28 Jan 2009 00:00:00 GMT

The cabinet endorsed in principle the draft law to help maintain security at Suvarnabhumi airport, Suvarnabhumi airport deputy director Prateep Wichittoe said on Wednesday...

Property sector benefits included in Thai government bailout

Mon, 26 Jan 2009 00:00:00 GMT

The government in Thailand has unveiled a new financial aid package that could benefit helping homeowners and property investors in the country.

In a bid to buoy the nation through the global financial crisis, THB40 billion (GBP0.8 billion) will be injected into the economy via tax relief measures, Reuters reports.

The tax allowance of THB100,000 a year for mortgage interest payments is to be extended under the new measures, it was revealed.

And the government added that purchasers of new property in 2009 will now be entitled to a tax allowance of up to THB300,000 a year.

According to finance minister Korn Chatikavanij, the measures will help the country record growth of two per cent in 2009 - the lowest level since 2.1 per cent was achieved in 2001.

The implications of new tax laws were recently outlined to British investors seeking a property investment opportunity in Europe.

Director of personal tax at accountancy firm PFK Matt Coward stated that investors need to aware of the financial consequences of selling a home in euro zone in the current climate.

Govt has backup economic plans: PM

Mon, 19 Jan 2009 00:00:00 GMT

Prime Minister Abhisit Vejjajiva on Monday met investors and told them that the government has backup plans, if the economic slump continues in the third and fourth quarters of this year...

Controversial land plan reborn

Mon, 19 Jan 2009 00:00:00 GMT

Fifteen years ago, then the Democrat-led government was forced to dissolve the House after it was humiliated by the Opposition in the parliament over abuses of power in the sor por kor 4-01 land scheme. Today, it wants to resurrect the same programme...

Central bank cut one-day RP rate

Wed, 14 Jan 2009 00:00:00 GMT

The Bank of Thailand (BoT)'s Monetary Policy Committee on Wednesday resolved to slash the one-day repurchase (RP) rate to 2.0 per cent, or 0.75 per cent lower, in a bid to revitalise the local economy...

Large cut in Thai interest rates

Wed, 3 Dec 2008 00:00:00 GMT

Thailand's central bank cuts interest rates by the biggest amount in eight years, as it aims to lift an economy hit by unrest...

Thai Protesters End Airport Siege as PM Quits

Wed, 3 Dec 2008 00:00:00 GMT

Anti-government protesters who have been blockading Bangkok's main airport for over a week abandoned their checkpoints on Wednesday and started packing up their belongings to head for home, after...

Etihad operates special flights for passengers stranded in Thailand

Fri, 28 Nov 2008 00:00:00 GMT

Abu Dhabi, Etihad Airways will lay on special relief flights from U-Taphao airport in Thailand to Abu Dhabi to help passengers who have been stranded in the country since the start of civil unrest and the closure of the major international airports in the capital, Bangkok...