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Condominium sales on mass transit routes slows in Q1
2008-06-03 12:12:00
Sales of condominiums located along elevated and underground electric mass transit routes in metropolitan Bangkok slowed markedly in the first quarter of this year, according to a new survey by the Property Assessment and Research Information Center. Vasant Kongchan, the centre’s managing director, said the total sales of condominiums in the city had dropped by 7 ...
More About: General , Sales , Mass , Transit

Condo bookings fall despite stimulus measures
2008-06-03 12:11:00
Source: The Nation Bookings of Bangkok city condominium units slowed significantly in the first quarter despite the government’s stimulus measures for the property industry. A new survey by local property-consulting firm the Agency for Real Estate Affairs, new condominium bookings will be down 7 per cent year on year in the first half of 2008. The survey covered ...
More About: General , Condo , Fall

Hot locations? appeal to investors may cool
2008-06-03 12:10:00
Source: Bangkok Post Supply building up near transit routes The current high returns on investment for condominiums near existing mass-transit lines might decrease in a few years as the market cools and more supply enters the market, says Wason Khongchantr, managing director of Agency for Real Estate Affairs. He said the boom in condominiums near mass transit routes ...
More About: General , Cool , Locations , Investors , Appeal

UOB AM set to liquidate apartment fund
2008-06-03 12:09:00
Source: Bangkok Post UOB Asset Management plans to liquidate assets in its UOB Apartment Property Fund 1 due to poor trading liquidity. The UOBAPF fund listed on the Stock Exchange of Thailand in October 2003 with a five-year time horizon. The fund would expire on Sept 17. Vana Bulbon, the UOBAM chief executive officer, said the company would delist ...
More About: General

Low costs could lure condo buyers
2008-06-03 12:08:00
Source: Bangkok Post Townhouses could become an increasingly attractive alternative to condominiums as rising construction costs force developers to increase unit prices by 15%, says Teerachon Manomaiphibul, chief operating officer of the listed developer Property Perfect Plc (PF). “Townhouses in the same location [as condominiums] or located a bit farther from mass transit will be a choice ...
More About: General , Condo , Buyers , Costs , Lure

Shoemaker SCS moves into property
2008-06-03 12:07:00
Source: Bangkok Post Sales for the new Wellington condominium in Ramkhamhaeng opened yesterday. The shoe manufacturer SCS Shoes Co has diversified into property development with the launch of mid-priced condominiums in the Ramkhamhaeng area. “The real estate business has growth potential and has encouraged us to jump onto the bandwagon. We have a lot of land plots to ...
More About: Property , General , Moves

Homebuyers? patience costs developers dear
2008-06-03 12:05:00
Source: The Nation Listed developers see lower profits - and some a net loss - as buyers put off property transfers With construction and management costs rising and homebuyers putting off transferring their property to avail of the government’s tax package, 19 of the 30 property developers listed on the Stock Exchange of Thailand (SET) reported lower ...
More About: General , Patience , Developers , Costs

Decisions loom for some crisis-era buildings
2008-06-03 12:05:00
Source: Bangkok Post/Nina Suebsukcharoen Safety questions aside, some buildings have become hideouts for criminals. Many of the ghost buildings of yesteryear are still standing even though a decade has passed since the Thai economy crashed. Protracted legal tussles over debt restructuring have all but ended hopes that some of these eyesores can be revived. The financial and legal ...
More About: General , Buildings , Crisis , Decisions

City resort group eyes rapid growth
2008-06-03 12:03:00
Source: The Nation Property company City Resort Group is planning to develop two new residential projects - one each on Rachadapisek Road and Sukhumvit Road next year - after Rajvithi City Resort, its latest condominium project, valued at Bt450 million, opens for pre-sale in the first quarter. Rajvithi City Resort recorded a pre-sale of 30 per cent ...
More About: Eyes , General , Growth , Rapid

Condo Demand soars
2008-06-03 12:02:00
Source: The Nation Offices, Sky Train boost the area’s appeal for home-buyers, investors Sixteen city-condominium projects, valued at about Bt16 billion, are expected to be launched in the vicinity of the Victory Monument. Most of these projects have sold 30 per cent to 100 per cent within three to six months of opening for booking. According to a ...
More About: Condo , Demand

Cash-rich buyers keep luxury real estate market healthy
2008-05-14 13:51:00
Source: Bangkok Post The luxury property market is still strong due to healthy demand and high purchasing power, reflected in the fact that fewer than 20% of purchasers seek loans, according to Chatchai Payuhanaveechai, a senior vice-president at Kasikornbank. Most buyers of luxury units pay cash as they are seeking better returns than from bank deposits in ...
More About: Estate , Rich , Real Estate , Real Estate Market , Luxury

Construction firms set to charge more
2008-05-14 13:49:00
Source: The Nation Construction companies have expressed an intention to increase their prices between 8 per cent and 10 per cent by the second quarter of this year consequent to the rise in prices of raw materials. Prices have risen between 10 per cent and 20 per cent since last year. According to a survey conducted by ...
More About: Charge , Firms

Stricter laws could stifle real-estate boom
2008-05-07 08:45:00
Source: The Nation/Dr Teerachon Manomaiphibul Real estate is one of the most regulated industries in Thailand. Although strict regulation makes a lot of sense for an industry that has a direct impact on people’s lives, excessively strict regulations can hurt its growth and prosperity. Strict zoning regulations, issued in 2006, have made the development of new projects costlier ...
More About: Estate , Real Estate , Laws , Boom

Higher foreign quota will spur resorts
2008-05-07 08:44:00
Source: Bangkok Post/Nigel Cornick Over the past three years, Thailand’s resort areas have rapidly progressed as desirable destinations for upmarket real estate investors. The tourism industry has opened the eyes of many buyers and the Kingdom has clearly established itself as a place where people want to reside, in terms of affordability, lifestyle and cost of living. There ...
More About: General , Foreign , Resorts , Higher

Koh Samui land prices take off
2008-05-07 08:44:00
Source: The Nation An influx of money from developers has spurred demand on the island Land prices in Koh Samui are expected to rise between 20 per cent and 30 per cent a year as a number of property firms expand their investment in sectors such as retail, residential-project developments, hotels and resorts, Thailand Estates Corporation (TEC)’s ...
More About: Prices

Huge supply of condos in Thailand coming in next few years
2008-04-28 06:23:00
Source: The Nation The Real Estate Information Centre surveyed over a dozen key property markets around Thailand late last year. Apart from Bangkok and its five neighbouring provinces, the field survey also covered major provinces in other regions, such as Chiang Mai, Phuket, Chon Buri, Rayong, Nakhon Ratchasima, Khon Kaen and Ayutthaya. About 1,600 housing estates, each with ...
More About: Years , Huge

Sansiri set to develop more high-end housing projects
2008-04-28 06:22:00
Source: Bangkok Post Company expecting robust 2008 growth - Transport links boost property The listed developer Sansiri Plc (SIRI) plans to develop 300 units of high-end single houses worth 5.4 billion baht next year with an investment of around 800 million baht for new land plots in the Srinakarin, Ekamai-Rarm Intra and Kallapapruek areas, says Samatcha Promsiri, ...
More About: Projects , Housing , High , Develop

Suwit says economy is still very resilient
2008-04-28 06:21:00
Source: Bangkok Post The time is right for foreign investors to invest in Thailand as the economy will see limited effects from high oil prices and the US sub-prime problem, Industry Minister Suwit Khunkitti said yesterday. Addressing the British Chamber of Commerce Thailand (BCCT), Mr Suwit said Thailand was more resilient in the face of high oil ...
More About: Economy , General

MFC fund to venture yet again into expat properties
2008-04-28 06:20:00
Source: The Nation Building on the success of its previous MFC - the Nichada Thani Property Fund (MNIT), which had 10 dividend payments worth Bt158 million - MFC Asset Management recently launched yet another closed-end fund, this time also partnering with Nichada Thani. Like MNIT, the Bt1.075-billion Multi-National Residence Fund will invest in properties with a large ...
More About: Venture , General , Properties , Expat

Survey shows rental rates in Asia rising
2008-04-21 07:15:00
Hong Kong tops list of most expensive locations while Bangkok is ranked 15th Source: The Nation Singapore Singapore’s residential rents for a three-bedroom apartment have increased by more than 30 per cent from 2006 to last year and the nation state is now ranked as the fifth most expensive location in Asia , according to a survey conducted by ...
More About: Rental , Survey , Rates

Property sector looks set to prosper in 2008
2008-04-16 11:47:00
Source: The Nation Foreign investors are expected to invest up to Bt70 billion in the Thai property sector this year, following the lifting of the Bank of Thailand’s 30-per-cent capital reserve requirement. Retail, office, serviced apartment, hotel and resort properties in Thailand are now being sought by real estate investment trusts and property firms from the United ...
More About: Property , Prosper , 2008

Zip to the airport
2008-04-08 14:05:00
Source: The Nation Forget about battling through Bangkok traffic to catch your filght. From December you will be able to check in at the City Air Terminal in Makkasan and even get your boarding pass Riding a fast Skytrain to the airport will soon be a new lifestyle for outbound travellers. The long-awaited Airport Link will be ...

City condominiums developers take regulations hit
2008-04-08 14:04:00
Source: The Nation Transfer of properties held up as builders await construction and EIA licences Nearly 50 city condominium projects with about 5,000 units, slated to be ready in the first half of this year, will not be able to transfer the properties to customers because most are awaiting the environment impact assessment (EIA) and construction licences. A ...
More About: Regulations , City , Developers , Condominiums

Amendments to protect condo buyers in Thailand
2008-04-08 14:02:00
The Nation Even as Thailand ’s popularity as a tourist destination has seen steady growth over recent years, the number of foreigners looking to invest in real estate has also gone up. This is evident from the many new condominium projects being developed not only in and around Bangkok, but also in popular beach-front areas of Hua Hin ...
More About: Condo , Buyers

Facilities Management goes green
2008-04-04 11:57:00
There are currently significant concerns among Thai property developers and investors that new projects will not be able to launch or even start the construction. This follows the Office of Natural Resources and Environmental Policy and Planning (ONEP) recently asking a Bangkok district office to halt the construction of a condominium developed by a SET-listed company saying that the project did not pass Environmental Impact Assessments (EIAs). ONEP issued a requirement late last year that all ‘new’ buildings, including offices, hotels and condominiums, would need one tree with a minimum height of five metres to be planted for every two tons of air conditioning emissions. In addition, allocating 50% of total open-space area, set at 30% of a land plot, to be a green area is compulsory. The Thai Condominium Association then estimated that about 200 projects worth more than 40 billion baht were waiting for EIAs approval. The requirement also means that high-rise buildings l...
More About: Management , Green , Facilities

Exaggerated Ads - Developers of land get a warning
2008-04-04 10:59:00
Source: Bangkok Post The Consumer Protection Board has warned developers of housing projects that they will face a jail term and a fine if they are found to have exaggerated their projects in advertisements. Nirot Charoenprakob, deputy secretary-general of the Consumer Protection Board, said he recently called a meeting with developers of housing projects to warn them not to exaggerate their projects following complaints from many consumers that some developers had misled them into believing that mass transit projects would pass their housing estates or shopping malls, hospitals or schools would be built near their estates. Such exaggerated advertisements have fooled many into buying expensive housing or condominium units from these projects. In many cases, it was found later that the public facilities being advertised were being built several kilometres away from the housing projects. Mr Nirot said the board allows developers to advertise their products, but that is not enough if t...
More About: Warning , Land , Developers

Prinsiri admits wrongdoing
2008-04-04 10:58:00
Source: Bangkok Post Built condos without construction permits The listed developer Prinsiri Plc (PRIN) admitted that it illegally started construction on The Pulse Phahon Yothin 37 condominium as it did not have the proper construction permits. The Bangkok Metropolitan Administration forced the company to stop construction. Now Prinsiri says it will belatedly follow the law and wait for the proper permits to be approved. ‘’We admitted we were wrong as we didn’t have construction permits before starting construction,'’ Pornprom Vongpivat, the company’s vice-president for finance, said yesterday. The 636-million-baht Pulse Phahon Yothin 37 is designed to have two buildings with a total of 308 units. Construction on Tower A was 40% complete, while Tower B was 80% complete. Construction on both has been stopped. ‘’Like other condominium developers, we asked for construction approval via Article 39 of the Building Control Act by submitting the ...

Plus forced to scrap top floors - 11 buildings violate height restrictions
2008-04-04 10:58:00
Source: Bangkok Post Plus Property Co, a subsidiary of Sansiri Plc, will remove the top floors at 11 of its Condo One low-rise condominiums to comply with city building limits. Chief executive Mayta Chanchamcharat said the company would also refund down payments to any unsatisfied buyers. The renovation and redesign could cost the company up to 400 million baht. ‘’Since learning that [the buildings’] heights exceed the legal limit late last year, we’ve talked with the authorities and tried to find the best solutions for the buildings, which are in different stages of construction and have different designs, to ensure the least impact on customers,'’ said Mr Mayta. He said the excess height was the result of new designs, which aimed to offer customers more open space at affordable prices. Also to blame was a new post-tension construction system that uses no beams but requires each floor to be five centimetres thick. As a result, the building heights exc...
More About: Forced , Scrap , Buildings , Floors

A diamond to shine on Ratchadaphisek
2008-04-04 10:57:00
Source: The Nation Coming up from the subway at Ratchadaphisek Station, one can see the Diamond Ratchada condominium project, which has three buildings worth a combined Bt2 billion. Property developer Diamond Ratchada, a subsidiary of Ch Chaiyaphatra Construction, developed the three condo buildings. These include Building A, with 432 units worth Bt1.4 billion; Building B, with 136 units worth Bt359 million; and Building C, with 119 units worth Bt308 million. Ninety per cent of Building A has been sold, while half the units in Building B and Building C have been sold. Prices for units in Building A start at Bt79,000 per square metre, Bt58,000 in Building B and Bt65,000 in Building C. The project has studio and one- and two-bedroom units. The developer has applied for an environmental-impact-assessment (EIA) licence. However, if the project is not granted a licence, the company will refund all of the money already paid by a customer, said Pattira Chaiyapatranum, a company official. S...
More About: Shine

Condo parking lot ban proposed for central Bangkok
2008-04-04 10:56:00
Source: Bangkok Post The Bangkok Metropolitan Administration (BMA) is proposing to ban parking lots in condominiums along the routes of the electric train and Bus Rapid Transit (BRT) systems to encourage the property residents to use mass transit facilities. The request will soon be proposed to the Department of Public Works and Town and Country Planning to consider and enforce, said deputy Bangkok governor Panich Vikitsreth. The proposed ban is expected to encourage condo residents in central Bangkok to make more use of mass transit systems and therefore help reduce traffic along electric train and BRT routes, said Mr Panich who supervises a project to relieve traffic congestion in Bangkok. The ban will also bring down the prices of condo units in central Bangkok as developers would not have to invest in building parking lots, he said. BMA will also ask office buildings that still need parking space for visitors to reduce the size of their parking lots. Atip Bijanonda, deputy manag...
More About: Parking , Condo , Central