The Thailand division of property services firm Jones Lang LaSalle has pointed out a growing concern over the potential negative impact of the Thai baht’s appreciation on the country’s real estate sector. According to Jones Lang LaSalle Thailand’s managing director Suphin Mechuchep, sectors including Bangkok high-end condominiums and resort properties…Continue reading
Demand for luxury real estate in popular far east tourist destinations such as Phuket and Koh Samui is increasing and experts are upbeat on the medium and long term outlook for the region. Property firms are reporting a recovery of purchasing power affecting the luxury residential markets in Bangkok as…Continue reading
Thailand’s high-end property developer Raimon Land has awarded the piling contract for its latest development 185 Rajadamri to Pylon Public Co., Ltd. The piling work commenced last Monday and will be completed in January 2011. Officially launched in September, the project has been attracting potential buyers among Thais and the…Continue reading
Thai listed developer Sansiri has revised its 2010 sales target up to THB25 billion (US$822 million) and increased its land purchase budget from THB7 billion (US$230.2 million) to THB10 billion (US$328.8 million) as it plans to jump into the low-priced housing market during the last quarter of the year. The…Continue reading
Phuket’s residential property market should continue to improve in line with the global economic recovery given no new political turmoil, according to new research from Knight Frank Thailand. The company believes that political stability will reinforce consumer confidence, not only for Phuket but for Thailand as a whole. Managing director…Continue reading
Residential property prices in Thailand have weathered the civil unrest in April and May in Bangkok which slowed the launch of new projects but did not cause panic selling, according to analysts. The latest report on the Thai real estate markets shows that development resumed quickly in Bangkok. The Bangkok…Continue reading
Despite the stronger baht, foreign demand for luxury condominiums is picking up and will return to previous levels in the fourth quarter, says Aliwassa Pathnadabutr, the managing director of property consultant CB Richard Ellis (Thailand). She said the walk-in rate by foreigners at projects represented by her company had risen…Continue reading
The “grey market”, specifically older foreigners planning to retire in Thailand, offers a high-growth opportunity for local developers, says Longlom Bunnag, chairman of the property agency Jones Lang LaSalle (Thailand). He said the consumption value of an estimated 100,000 retired couples with annual incomes averaging 600,000 baht was 60 billion…Continue reading
The listed developer Bangkok Land Plc plans to make its biggest investment in 12 years with several developments after clearing its 52-billion-baht debt resulting from the 1997 economic crisis. The new projects will range from condominiums and hotels to a shopping centre worth a combined 15 billion baht in the…Continue reading
Last week we covered the ownership of property by foreigners in Thailand and some of the pitfalls and possibilities. This gives rise to the question of how foreigners can actually finance the purchase of a property here. Currently foreign ownership of property in Thailand is restricted to strata title leasehold…Continue reading