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ASEAN News (24)

Monday, 20 January 2014 14:19

Market round-up

View-of-protests-during-Bangkok-Shutdown-in-Thailand-by-Richard-Barrow

 

Thailand

 

The condo market in Thailand is feeling the impact of ongoing protests and the Bangkok Shutdown, according to Knight Frank Chartered (Thailand) managing director Phanom Kanjanathiemthao, who says that most buyers are waiting for political tensions to ease before making a purchase. The protests in Bangkok have affected not only the capital city, but also Pattaya and Phuket, both of which have a heavy percentage of foreign buyers.

Transportation Infrastructure Projects Will Ready Thailand for AEC

Thailand Prime Minister Yingluck Shinawatra said yesterday the government stands ready to go ahead with its Bt2-trillion transportation-infrastructure project as a means to prepare for enhanced Thai-Asean links and liberalised trade with both Asean and non-Asean partners.

Meanwhile, according to the commerce minister, state subsidies for agricultural products will be adjusted to strengthen the sector before the country joins the full Asean economic integration planned for January 1, 2016.

Strong Demand for Northeast Thailand Residential Condo as ASEAN Coming

According information from the the Real Estate Information Centre of the Government Housing Bank, the ASEAN ECONOMIC Community coming up in 2015 is boosting residential demand in the Northeast, especially from Vietnamese, South Korean and Japanese investors expanding in Laos.

Research shows that the popular locations in the Northeast are Nakhon Ratchasima, Khon Kaen and Udon Thani, Samma Kitsin, director-general of the centre, said last week.



Top Japanese Developer Plans Investing in Thailand for ASEAN

Mitsui Fudosan group and Ananda Development's joint-venture agreement in 2013

As a leader in the Japanese property market, Mitsui Fudosan Residential Company is confident in the continued growth of the ASEAN economies and is expanding into Thailand, Indonesia and Malaysia this year after first investing in Singapore 40 years ago.

Mitsui Fudosan group recorded total sales this fiscal year (April 2012-March 2013) worth Bt466 billion. It develops and transfers to customers 5,000-6,000 residential units a year.



Supalai Mare @ Pattaya

Supalai Mare @ Pattaya

Thailand property Developer Supalai is expanding its investment in Asia. The company is allocating THB2 billion from its overall investment budget of THB15 billion for investments overseas.

Supalai recently set up Supalai Philippines Inc in order to increase presence in that country’s growing property market. Supalai chief executive officer Prateep Tangmatitham said that the company is studying plans to expand investment in other countries in the Asia Pacific region, including Myanmar, Indonesia, Vietnam, Sri Lanka and Australia. It is also looking at Russia, he said.



Yingluck_Shinawatra

Thailand Tourism will continue rising returns from China, ASEAN in coming years; Tourist Court urged amid safety concerns. Good news awaits Prime Minister Yingluck Shinawatra today: the Tourism and Sports Ministry is set to upgrade projected tourism revenue for 2015 to Bt2.2 trillion.

Tourism Minister Somsak Pureesrisak, who will meet with the prime minister today to present his plans on how to achieve the goal, believes tourism will remain buoyant over the next two years, amid increasing inflows of Japanese and Chinese visitors in light of ongoing conflicts between the two countries.

Tourism revenue is expected to reach Bt2 trillion in 2014, up from the previous Bt1.8 trillion forecast.

"Tourist safety will be on the national agenda," said the minister, who yesterday asked the Department of Special Investigation (DSI) to crack down on mafia gangs in Phuket.

Pattaya would be the next target area, as gangsters are now involved in businesses that affect tourists, particularly jet-skis and taxis. He acknowledged that Hong Kong had warned its people to be careful of travelling to the two cities. "That is not good for the country," he said.

Under the plan, Thailand aims to be a tourism hub in Asean, setting out to draw more quality tourists and to encourage them to stay longer. To facilitate this, the proposed Tourist Court must be set up.

The ASEAN hub goal comes at a time when the region is being urged to develop multi-country packages, to allow travellers to experience unlimited variety in terms of culture, landscape, people, flora and fauna, food, handicrafts, entertainment, shopping, recreation and excitement, within the 10 member countries of Asean.

Thailand earned Bt984 billion in tourism revenue in 2012, from 22.35 million foreign visitors. By region, tourists from Europe (5.45 million) spent the highest portion, Bt357 billion, according to the Department of Tourism.

By country, China topped the chart, with Bt106 billion spent by 2.76 million visitors. Most tourists were from ASEAN states at 6.3 million or 28 per cent overall.

The new revenue target is set despite a global economic malaise eating into the purchasing power of tourists in several countries. This has sharply cut demand for Thai exports. But with Thailand having already welcomed 12.7 million tourists in the first half of this year, including 2.27 million from China, private business operators are convinced the industry will remain buoyant and that the new target is achievable.

Piyaman Tejapaibul, president of the Tourism Council of Thailand, said new infrastructure initiatives like the high-speed train would boost tourism, as the routes will facilitate travel to major provinces rich in cultural and eco-attractions.

President of the Association of Domestic Travel Yutthachai Soonthornrattanavate said that concrete plans were necessary, though, for long-term development. Policies must be clear and consistent, not swayed by ad-hoc problems. He also urged for a special law to empower tourism authorities in charting development plans. He agreed that safety was a top issue, but said information gathering and dissemination was also crucial.

Sansern Ngaorungsi, deputy governor for Asia and the South Pacific at the Tourism Authority of Thailand (TAT), foresaw that Chinese tourists would constitute a major part of arrivals. Despite a slowdown in China's economy, the number of arrivals is expected to hit 4.2 million this year. Plus, tourists from ASEAN would be attracted by city-to-city campaigns.

Chinese tourists in the first half accounted for nearly 18 per cent of all arrivals, against the 11 per cent per cent in 2012.

AirAsia expects to do well from the plan. Tassapon Bijleveld, CEO of Thai AirAsia, said that while China's demand was huge, Indochina also had big potential - as shown by a 35-per-cent rise in regional tourists in the first half.

The trend should continue over the next few years, he said.



TREE TOPS CONDO Pattaya

TREE TOPS CONDO Pattaya

Thailand "Green" property demand will grow when the ASEAN Economic Community (AEC) take effect in 2015, as more multinationals setting up regional operations will opt for renting such facilities rather than normal office buildings, according to an expert. Thailand well placed to attract multinationals seeking HQ in Asean; green building costs 'don't have to be too high'

Assistant Professor Atch Sreshthaputra, a lecturer in the Architecture Faculty of Chulalongkorn University and an expert in green buildings, said most property developers still had concerns about the cost of constructing green buildings, believing that the investment would be higher than for a normal building.



THE RIVER CONDO for Sale in Bangkok

THE RIVER CONDO for Sale in Bangkok

Thailand joined Indonesia, Malaysia, the Philippines and Singapore in establishing the Association of Southeast Asian Nations (ASEAN), signing the Bangkok Declaration at the Ministry of Foreign Affairs in Thailand on 8 August 1967. ASEAN was conceived with an aim to promote peace and accelerate economic growth, social progress and cultural development in the region through joint endeavours in a spirit of equality and partnership. It evolved to become a main driving force for the region and later on expanded to include every country within the region.



Knight-Frank-logo

Asian economic growth is expected to continue to increase demand for office space across the ASEAN region, with domestic occupiers leading the push for prime space, according to research by Knight Frank Asia-Pacific.

The property consultancy's Prime Office Index rose for the 12th successive quarter, increasing 1.7 per cent in the January-March period of 2013 and 5.6 per cent over the last 12 months. Fifteen of the 19 prime office markets tracked saw prime rents increase in the first quarter.



Asia’s ‘Most Luxurious’ Home Sold in Phang Nga For US$24 Million

A 24 seat theatre, golf course, 37 meter swimming pool and a 500 sqm master bedroom with its own private pool, are only a few of the features of Beyond Villa, located Natai Beach in Thailand's southern Phang Nga province.

The 6,500 sqm property, which was previously owned by California Fitness founder Eric Levine, has been purchased by an unidentified Russian buyer, according to several sources familiar with the transaction.

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