News
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The Real Estate Information Center (REIC) said that the real estate market forecasts were optimistic. In the 4th quarter, 119,483 private houses and 80,466 apartments in multi-story buildings were purchased. One can see that consumer demand for low-rise housing has increased. Top 5 residential areas with the highest sales in Bangkok: Bang Phli,...
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According to the developer Chatrium Hospitality, luxury hotels have promising prospects in the fourth quarter, and this will continue over the next year. The average occupancy rate of hotels has exceeded 70%. The group is about to open a new Chatrium Grand Bangkok hotel in November to meet the growing demand. The average occupancy rate is expected...
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According to the Real Estate Information Center (REIC), construction of new condominiums has to be suspended despite the improving situation in the Chonburi housing market in the first half-year, as there is still a lot of unsold properties around. A REIC representative said that the amount and value of recently launched housing in Chonburi was...
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Sales of housing in Rayong increased considerably in the first half-year, primarily in the low-rise houses segment, because of the new wave of developing the Eastern Economic Corridor spanning across Rayong, Chonburi, and Chachoengsao Provinces. Acting General Manager of Real Estate Information Center (REIC) says that low-rise houses in Rayong...
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The mid-sized Thanasiri developer is preparing for expansion and planning to double the number of its projects, launching new residential developments worth 2 billion baht in 2023. Two years ago, the company began cooperation with Anabuki Kosan (Japan). Their projects included 2 – 3 complexes worth 1 billion baht per year. The company’s new...
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The Ministry of Finance is planning to announce new land appraisal prices for 2023 – 2026 on January 1 next year. They are estimated to be 7 – 8% higher than the pre-pandemic level. The Ministry updates land prices every four years. These prices serve as a basis for calculating taxes paid by landowners. During the Covid-19 outbreak in 2021 –...
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According to developers, the economic growth, reviving buying capacity, and unchanged house prices will incentivize the growth of the residential property market in the fourth quarter, despite inflation and higher loan interest rates offered by banks. President of the Thai Condominiums Association said they were not concerned about higher interest...
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The quantity of vacant spaces in top-class offices in downtown Bangkok will double next year, reaching the historical high since 1997, mostly due to arrival of new supply of higher-class properties. This will put pressure on the existing high-end office spaces. The inventory of vacant spaces in Class A offices in downtown Bangkok will peak in 2023...
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Ananda Development is planning to break ground on several residential projects, including a health center, hotels, and an international school, on an 8,000-are land plot on Phuket. The first stage will begin as early as next year. Phuket attracts many foreign nationals as a location in which to purchase real estate. It is particularly popular...
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The Real Estate Information Center reported that in the second quarter of 2022, the total home purchase rate of all types was 3.9% per month compared to the first quarter, which was 5.0% per month. The condo purchase rate decreased from 7.8% in the first quarter to 5.6% in the second quarter of 2022. The level of home purchase decreased from 3.0%...
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