Thai Property News

There’s a lot of talk of slowdown in the Thai property market, and the political uncertainties have certainly had their effect.  But Clayton Wade, managing director of Premier International, a Thailand-based residential and commercial property consulting group, in a recent interview with The Bangkok Post, has a different take.  With the recent downturn in economic indicators and consumer confidence, many local investors have switched money from the stock market to a more secure sector - the asia property market.

And if you look more widely in the region, the stock markets have been riding high and investors, particularly from mainland China are banking their profits in the asian property markets to secure their gains. 

Clayton points to pre-sale figures achieved in recent projects launched by listed developers such as Supalai, Plus Property (a subsidiary of Sansiri), Noble and Raimon Land, demonstrate, in fact, the property market in Thailand is doing just fine.

Supalai launched its new riverside project, Supalai River Place, in June. The day after its launch, 85% of its 800 units were sold out, with prices in the one- to five-million-baht range.
Condo One launched a series of eight projects in various locations of the inner city. Most of those were sold out a few days after launch, and prices in the few units that remain available have continued to escalate.
Noble successfully sold 500 units at Noble Remix on Sukhumvit 36 within a few weeks, with prices in the three- to five-million-baht range. Noble is confident that successful investors in their Remix project will repeat their experience with the upcoming Noble Solo on Thong Lo.
And there’s more.

TCC CapitaLand, a joint venture between CapitaLand of Singapore and the TCC Land group of Thailand, recently introduced two new high-end projects: Emporio on Sukhumvit 24 and Empire Place in Sathorn.

CDL, after the takeover of the Pornpat Tower (later renamed Exchange Square), and the Millennium Hilton on the riverside (both vacant buildings), has announced a five-billion-baht condominium development on Sukhumvit 18-20, comprising four high-rise towers with a total of 600 units.

CentrePoint successfully launched The Pano on Rama III, in a joint venture with Krungthep Land last December. Most of the units with river views have been sold. Prices have already reached 100,000 baht per square metre for the best units.

HKR, the owner of Sukhothai Residences, also plans to inject several billion baht to develop a 46-storey condominium building at the back of the Sukhothai Hotel. 

SET-listed Raimon Land has successfully completed its Northshore project in Pattaya. The company has almost sold the entire project and more than 20% of the units have already changed hands prior to transfer, with capital appreciation of 20-50%. Northshore units are now reselling at 100,000 to 120,000 baht per sq m, equivalent to the high-end market in Bangkok.

The upcoming launch of Raimon Land’s 3.5-billion-baht Northpoint project in Pattaya has already generated interest from more than 1,200 pre-registered buyers. Most of the demand is from Bangkok residents, both Thai and foreign, and demonstrates the confidence that private individuals and investors have in well located properties in Thailand’s premium areas.

The recent completions and brisk sales of well-located developments in Bangkok and Pattaya is clear evidence that real estate is increasingly seen as a new alternative for local investors seeking an affordable, secure and attractive return on assets.

Whether it is in the mid-range market, with companies such as Supalai, or at the high end, with developers such as Raimon Land, the Thai real estate market steadily outperforms other types of investments.
For more information on Asian property investment, read the full report at : http://www.bangkokpost.com/