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Pattaya Property News & Blog


Pattaya Property News & Blog Supplied by Pattaya Condo Property Sales & Rentals, Real Estate Management.


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Speculative Demand Boosts Rush to Build Condos in Bangkok

Demand for condominiums from Thong Lor to Sukhumvit Soi 107 is showing signs of higher speculative activity than in other Bangkok locations, with a supply of more than 10,000 units worth nearly Bt50 billion in existing projects and new ones launched in 2013.

A elevated rail between Thong Lo Skytrain station and LaSalle, near Bearing station, found nearly 50 condominium projects recently completed or at some stage of construction along the route.

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Thailand property development sector also faces the challenge of creating suitable homes that can meet the demands of particular groups of target customers, rather than for individual customers.Consequently, the phrase "mass customisation" has become increasingly popular today across different industries.

This process requires companies to manage budgets, deliver product functionality, and choose materials so their projects can compete against their rivals.

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The stronger baht has a wider impact on the Thai economy, while the stronger baht has pushed Thai property prices up in US dollar terms, there are no signs yet of any major impact on property transactions in Thailand, says real-estate services firm Jones Lang LaSalle.

Suphin Mechuchep, managing director of Jones Lang LaSalle, said that as the baht had strengthened, concern over the possible impact on the real-estate market had grown, particularly in sectors that rely on demand from foreign buyers such as high-end Bangkok condominiums and resort properties in key holiday destinations.

Property Bubble Set to Form at Low end of Thai Market

A majority of mortgages are at the low end of the Thai market and increase the risk of a bubble forming in this segment, partly because of euphoria over the forthcoming Asean Economic Community.The mortgages are to set a new record of 21 to 22% of Thailand’s gross domestic product (GDP) over the next two years, reported Live Trading News.

Markets have been unsettled due to a recent warning from the Bank of Thailand about growing household debt.

Thailand Developer LPN Development Launches Its New Condotown in Bangkok

Thailand property firm LPN Development is introducing its latest condominium project, Lumpini Condotown Ladprakow 2, with units starting at Bt888,000.

The project, which has a total of 532 units, is located close to the new Kharai-Min Buri mass-transit line that should be completed by mid-2017. The condominium should be ready by in 2014.

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Resale residences are seeing strong demand following the rise in prices for new properties in Thailand.

"Resale condominiums in the central business district of Bangkok still record lower prices than new condo projects. There is a boost in demand for resale condos from those who want a ready-to-move-in unit," Poomipat Sinachoren, CEO of Bangkok CitiSmart Co, said.

Bangkok's newly built Avora 31 targets Japanese expatriate

Avora 31 on Sukhmvit Road, Bangkok.

Thailand listing property developer Baan DSC Co., Ltd. has launched a newly built grade A apartment (single ownership) for rent in Sukhumvit 31, named Avora 31. This low-rise apartment building has been designed to meet the requirements of Japanese expatriates working in the downtown areas of Bangkok, according to property consultancy firm CBRE.

Avora 31 is a 51-unit apartment development for rent with only 7-storeys, thereby allowing higher ceilings. Within each unit, a high standard of modern décor, furnishings and appliances is provided. Facilities for tenants include a swimming pool, gym, sauna, key-card system, 24-hour security guard, shuttle tuk-tuk, and parking spaces.

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Demand for office buildings in Bangkok shows signs of increasing in 2013 thanks to limited supply, especially of Grade A buildings in prime locations, which are enjoying the highest rental escalations, according to Knight Frank (Thailand) Co.

The Asia-Pacific Prime Office Index rose 2% in the fourth quarter of 2012 from 0.8% in the previous quarter, according to Knight Frank Asia-Pacific.

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The expansion by Thailand leading property firms of their investment in the provinces during the course of 2012 has resulted in a doubling of land prices in many areas of Thailand.

The main provinces and areas subject to the expansion drive are Rayong, Chiang Mai, Khon Kaen, Udon Thani, Phuket, Pattaya, Hat Yai and Khao Yai.

Bangkok Office Tenants Need to Plan Ahead Amid Robust Demand

The office market in Bangkok today has evolved to become a landlord's market, a big turnaround from less than five years ago post the global crisis. Long gone are the days where office tenants have an infinite choice of buildings and space right now.

In fact, Bangkok office market has not seen the momentum it has today since before the 1997 Asian crisis. We believe that with Thailand's positive macroeconomic outlook, a healthy demand for office space will continue to be sustained.

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