Despite widespread concern of an oversupply in the condominium market, a property bubble remains impossible, says Suphin Mechuchep, managing director of the property consultant Jones Lang LaSalle Thailand.
“The Thai property market is active, particularly condominiums in inner Bangkok, despite domestic political problems and sluggish Western economies,” she said at the Post Today Investment Expo 2012, which runs until tomorrow at CentralPlaza LardPrao.
“Thai property prices are one-tenth those in Hong Kong and Singapore, while the Thai economy remains strong and people have cash on hand. Property purchases are a way to compete with inflation, especially if its an investment for rent.” Continue reading JLL denies Bangkok condo bubble
Ban Lae Suan Fair, Dec 17-25, 9.30am-9pm, at Challenger Hall, Impact Muang Thong Thani.
Your house has been underwater for weeks, and still no ideas about renovation?
Then the forthcoming Ban Lae Suan Fair at Challenger Hall, Impact Muang Thong Thani, from Dec 17-25, is an event you can’t afford to miss.
House renovation is one of the highlights of this annual event, which was postponed from earlier this month due to the floods. Visitors can seek free consultation from experts and obtain manuals on how to protect your house from flooding.
The fair will also feature 10 of the best innovative ideas for home owners. The winning blueprint this year demonstrates how owners of detached houses can make money by turning their outer wall into an outdoor media advertising space.
The 10 finalists, mostly green concepts, also feature new gardening ideas including growing plants inside the house to cool down the temperature and conceal eyesores. Or growing flowers beneath a dish drainer so the water is reused to irrigate the flower pot and the area is kept dry.
Also available will be home decor items, designed to fit limited space.
- Published In Bangkok Post: 23/11/2011 at 12:00 AM
- Newspaper section: Life
Furniture and home furnishings are expected to flourish next year, as people seek to replace old pieces ruined by the floods, driving the industry to grow by up to 10%, or 60 billion baht.
A customer checks out furniture at a fair held in mid-March this year. WISIT THAMNGERN
The local market is also set to reap the benefits from the government’s first-home tax breaks, said Kasikorn Research Center. Continue reading Industry poised for gain
The Treasury Department is preparing to announce an average increase of 20% in land valuations nationwide but it has not yet taken the impact from current flooding into account, says director-general Naris Chaiyasoot.
However, officials suggested the floods may give property developers an opportunity to buy land at lower cost in some areas where owners want to sell because they have faced flooding or fear future flood risk.
As well, general investors will see this as an opportunity to acquire cheap land to sell at a profit in the future. Continue reading New land valuations likely to rise by 20% on average
With about 150,000 houses from more than 1,000 projects in Greater Bangkok and Ayutthaya damaged by flooding, transfers this year will decline by 20%, says the Real Estate Information Center.
Most of the flood-damaged homes are on Phetkasem Road, Bang Kae, Nakhon Pathom and Samut Sakhon. In older projects, the ground level is often lower than road level and they face deeper floodwaters than newer projects, the REIC said. Continue reading REIC: Housing transfers sinking with floods
Prices of land and other property in flooded areas will drop in the next couple of years, while home purchasing sentiment will take at least six months to return to normal, says the property consultant Colliers International Thailand.
Managing director Patima Jeerapaet said the next two or three years will be a golden opportunity for property developers to buy up land in flooded areas at bargain prices. Continue reading Bargains ample post-flood
Developers look to build reputations
The current flood is testing how well developers and property companies take care of customers, which can affect their reputations and influence future customers.
Sopon Pornchokchai, president of the property consultant Agency for Real Estate Affairs, said housing developers should offer good service and financial support to build brand awareness. Continue reading Customer service playing critical role
Despite renewed concerns about the state of the global economy and the euro-zone debt crisis, Bangkok residential yields remain firm with gross yield average at 5.9%, says property consulting firm CB Richard Ellis.
Over the last six quarters, downtown Bangkok condominiums have consistently provided an average yield within a narrow band of 5% to 6%. Smaller one-bedroom units have tended to achieve higher yields in excess of 6%, while larger four-bedroom units are lower at 3%. Continue reading CBRE: Bangkok condo yields remain dependable