Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021

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Sunchai Kooakachai, Director and Head of Research and Advisory, Knight Frank Thailand said that During the second half of 2021, the overall condominium market in the Cha-am Hua-Hin Khao-Tao area continued to slow in terms of both supply and demand.

Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021

Asurvey found that the number of new projects launched for sale throughout the year included only two projects.

Also, the Covid-19 epidemic of the past two years has caused condominium developers in the area to choose to wait to see the situation before launching or developing a new project.

Although Hua Hin remains a popular holiday destination for Bangkok residents, sales of condominiums continue to slow from the first half of the year. 

Supply

The cumulative supply of condominiums in the Cha-am Hua-Hin Khao-Tao area before 2008 to the second half of 2021 totalled 28,055 units.

In the second half of 2021, the supply of new condominiums launched for sale was from one project, with approximately 136 units, located in Hua Hin Soi 94.

Most of the condominiums are in the Cha-am area, accounting for 58 per cent, followed by Khao Tao and Khao Takiab at 13 and 11 per cent, respectively.

The supply of condominiums in Hua Hin accounted for 10 per cent of the total supply, while condominiums located in the in-land mountainous accounted for 8 per cent.

Of the total supply, most of the condominiums, at 55 per cent, are those without sea views while sea view condominiums accounted for 45 per cent.

Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021
Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021
Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021

Demand

In the second half of 2021, a total of 20,571 condominiums in the Cha-am Hua-Hin Khao-Tao area have been sold out of a total supply of 28,055 units, representing a sales rate of 73 per cent.

The sales rate is relatively stable compared to 2020. In the second half of 2021, only 154 units were sold, taking the total number of units sold throughout the year to 380 units.

Overall, the number of units left for sale, as of December 2021, is approximately 7,484 units. In projects that have been launched over five years ago, there are approximately 3,200 units left for sale or 50 per cent of the remaining supply.

At present, 90 per cent of the main buyers are Thais living in Bangkok while 5 per cent are Thais from provincial areas.

Another 5 per cent are retired expats from Scandinavia, Norway, the Netherlands, and France; most foreigners living in Hua Hin prefer to buy a house or a villa because they are relatively tranquil and private, and suitable for long term occupancy.

Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021
Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021

Condominiums in Khao Takiab enjoyed the highest sales rate at 96 per cent, followed by condominiums in Khao Tao and in-land areas, with sales rates of 95 per cent and 90 per cent, respectively.

The sales rate in Hua Hin and Cha-am was 83 per cent and 60 per cent, respectively. Cha-am is the area with the highest number of unsold condos at 6,468 units, or approximately 40 per cent of the total remaining supply.

At present, there is almost no land next to the sea in the Hua Hin area that can be developed. Remaining lands suitable for project development are in Cha-Am, but the area is still less popular than Hua Hin, which affords more convenience and easier access to amenities.

In the in-land mountain area that is not close to the sea, there is still a lot of space left for project development — and it should be of interest to investors because it is within the Hua Hin city limits and is favoured by foreigners. 

Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021

Asking Prices

The average asking price for sea view condominiums in this area is around 141,670 baht per square metre. Sales prices have increased by 2 per cent from the first half of 2021, with new sea view projects having an average asking price of 250,000 baht per square metre.

The average asking price of condominiums without Non-sea views is approximately 70,700 baht per square metre. Prices are relatively stable and decreased slightly by 0.1 per cent from the first half of 2021, due to projects that still have more than 50 per cent unsold units in the Cha-am area.

Developers continue to offer promotions and discounts to close out the sales of such projects. 

Condominium Market in Cha-am Hua-Hin Khao-Tao Area, as of H2 2021

Outlook 

The overall Hua Hin condominium market in 2022 is expected to be relatively stable. This is because developers of condominium projects in the area are still assessing the situation and slowing down launches or the development of new projects.

However, condos in the seafront area have relatively few units for sale and their selling prices tend to increase. Meanwhile, it may take some time to move the unsold units in the Cha-am area; some projects may experience a price drop given the age of the condominiums.

Although the Covid-19 epidemic has had a negative impact on the condominium market in the Cha-am Hua-Hin Khao-Tao area, it also generated more interest in the area’s condominiums among the people in Bangkok.

Such potential buyers would like to avoid epidemic situations like that which occurred in the past. This group of buyers see the area as a place where they prefer to ride out the epidemic rather than in being Bangkok.

This results in more demand in the Cha-am Hua-Hin Khao-Tao condominium market, which is likely to expand further once the Covid-19 epidemic has passed.

Published : January 13, 2022

By : THE NATION

It’s open house for investors flush with cryptocurrency especially in Phuket, Pattaya, Hua Hin

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https://www.nationthailand.com/property/40010758


Thailand’s real estate market is now bustling as investors are using cryptocurrency to buy tangible property such as land, luxury homes and cars in a bid to cope with volatility.

It’s open house for investors flush with cryptocurrency especially in Phuket, Pattaya, Hua Hin

Boon Yongsakul, chairman of Boat Pattana, a hotel operator and property developer in Phuket, said digital assets enabled investors, especially people aged 20-30, to generate enough income to buy up to THB300-million properties.

“Our customer bought two houses by using cryptocurrency – the first house worth THB12 million and the second costing THB20 million,” he said. “We accept cryptocurrency because they are the future and we cannot stop it,” he argued.

Amornchai Saehuang, chief operating officer of VIP Property Development in Phuket, said investors, especially Chinese, are using their cryptocurrency to buy tangible properties to cope with volatility.

He said a Chinese person recently bought a pool villa worth THB28 million using cryptocurrency.

“Cryptocurrency investors are the new wealthy who are able to purchase products and services at high prices,” he explained. “These investors will be the main factor in any future economy and this needs close monitoring.”

Amornchai added that cryptocurrency investors are paying attention to luxury houses and land in tourism areas such as Phuket, Pattaya and Hua Hin.

Thai Chamber of Commerce Housing Business Association president Issara Boonyang said cryptocurrency is an issue that everyone should be aware of as it is an inevitable global trend.

“Cryptocurrencies will play an important role in the real estate market in the future as investors will be able to use their real assets to issue cryptocurrencies instead of debentures or borrowing cash from financial institutions,” Issara said.

“This will become popular as new generations prefer investment that provides good and fast returns rather than deposits because the interest rate is low,” he added.

Related stories:

Published : January 05, 2022

By : THE NATION

Chinese nationals biggest property buyers in Thailand

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https://www.nationthailand.com/property/40010650


Nearly 60 per cent of condominium units sold in the first nine months of 2021 were bought by Chinese nationals, Wichai Wirattaphan, acting director of the Real Estate Information Centre, said recently.

Chinese nationals biggest property buyers in Thailand

According to statistics released by REIC, nationals from five countries were the biggest buyers of property in Thailand, namely:
• China: 17.8 billion baht (59.9 per cent)
• Vanuatu: 1.01 billion baht (3.4 per cent)
• United States: 864 million baht (2.9 per cent)
• United Kingdom: 732 million baht (2.5 per cent)
• France: 711 million baht (2.4 per cent)

Wichai said Vanuatu nationals only bought 23 units, but this made a big dent in the property market because each unit was worth 44 million baht on average.

In the first nine months of 2021, the average size of units bought came in at 43 square metres at an average value of 4.9 million baht or 114,000 baht per square metre.

US nationals bought bigger units averaging at 54.8 square metres, while the most expensive units or 5.1 million baht on average were bought by Singaporeans.

The top five provinces popular among foreign buyers are:
• Bangkok
• Chonburi
• Phuket
• Chiang Mai
• Prachuap Khiri Khan

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Foreigners bought 3,246 or 53 per cent of units up for sale in Bangkok, while Chonburi came in second with 1,738 units or 28.4 per cent.

The top five provinces with the highest value of units transferred to foreigners are:
• Bangkok
• Chonburi
• Phuket
• Prachuap Khiri Khan
• Nonthaburi

Units sold to foreigners brought 21.76 billion baht in Bangkok and 4.14 billion baht in Chonburi.

Published : December 31, 2021

By : THE NATION

Fun fact behinds BITEC’s building design

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https://www.nationthailand.com/property/40009404


Bangkok, Thailand, 29 November 2021- Architectural design does not only respond to the exterior and physical appearance of buildings, it also conceals meanings and functional benefits beyond our perception.

Fun fact behinds BITEC’s building design

Bangkok International Trade & Exhibition Centre (BITEC), a leading MICE venue in Thailand and ASEAN revealed fascinating facts behind its iconic building design that respond to the needs of MICE business.

BITEC’s top priority is to deliver excellent services to customers and visitors, providing convenient, safe and full access to its functional facilities where organisers require specific attention to detail. BITEC focused on all aspects of the architecture, engineering, interior design and landscaping to meet the international standards. The following are the ten remarkable highlights that are considered parts of BITEC’s brand identity.

1. BITEC’s iconic masts

BITEC’s masts are considered as Iconic Architecture that have become like a landmark of the Eastern district of Bangkok. The idea of the design is of the plan to build an exhibition centre without pillars in order to make the most of every square metre.

Apart from an outstanding architectural appeal, all 26 masts support the roof structure, optimising spaces for facility usage without pillar obstructions. This allows for more flexible movement when installing equipment or industry machinery that requires manufacturing lifting. It is also beneficial for exhibitions that require vertical change of scene as the Hanging Point of the main roof structure has a bearing capacity of 2,000 kilograms per trussing line.

2. The size of BITEC’s parking space that is equal to 94 Olympic Game swimming pools

Many may think that BITEC does not have enough parking spaces, but in fact BITEC has a total capacity of up to 5,050 cars. BITEC has an indoor car park on the basement B1, B2 and B3 floors as well as the outdoor area which the total space is comparable to 94 standard Olympic swimming pools putting together. The parking space also includes special parking zones well as parking and charging outlets for electric vehicles (EV).

Fun fact behinds BITEC’s building design

3. Freedom of heights

The EH 100 Hall at BITEC is an event space with the highest ceiling of 25 metres, equivalenting to 6 London buses in stack. The height freedom benefits events that require manufacturing lifting or high ceiling space for loading and installation such as acrobatics, concerts and performing shows.

4. Strong building surface that can support the weight of up to 3 tons

BITEC is the only venue in Thailand that can host industrial exhibitions and trade shows. The building’s Floor load that has an ability to support the weight of up to 3 tons per square metre, allows BITEC to be the venue of choice for organisers in the public and private sectors.

5. Connected open exhibition halls that are big enough to fit 6 airplanes

Believe it or not, the EH 98 to EH 107 exhibition halls are connected thoroughly with a total distance of 867 metres. With the total distance that can fit six A380 Airbus aircrafts, the connected halls are suitable for exhibitions that need to be separated into zones without pillar obstructions such as the Expo. The halls are also a great venue to host an event like an indoor marathon, creating an open space event for visitors as well as avoiding the traffic and PM2.5. pollution.

Each building has its own loading point with truck access, allowing for easy transportation, installations and dismantles

6. The longest travellator in the Thai MICE industry

BITEC has the longest travellator in the Thai MICE industry, with a total distance of 718 metres. The travellator allows users to commute within the space through each hall faster and more convenient. It is specially designed to match the style of the building with high safety standards equivalent to the ones at the airports, shopping malls and five-star hotels. BITEC also considered power and energy-saving as one of the top priorities, hence the travellator will automatically stop when there are no users. As for its long narrow path, this might be a good idea for those who look for a photogenic corner for photos and posts on social media.

7. BITEC has a total of 34 meeting rooms that can support meetings up to 136 rounds a day

Not only BITEC has exhibition halls and trade show venues, BITEC also provides 34 functional rooms that can support banquets and meetings up to 136 rounds a day. The rooms can accommodate up to 5,155 seats per day (4 rounds a day, 2 for morning session and 2 for afternoon session). With services and facilities that meet the international standards, the functional meeting rooms are choice of full benefits for corporate meetings, seminars, and annual parties.   

8. Plus-size Loading Bay for cranes and trucks

BITEC is the only venue in Thailand that allows cranes and trucks to enter the halls for loading and setting up. The access through a plus-size Loading Door is six metres tall and eight metres wide. This allows exhibitors to set up industrial machineries in a more cost-effective and convenient way. Also, facilitating loading by Dock leveller.

9. The colours have meanings

Noticeably, the interior at BITEC is decorated with six colourful schemes to identify zones and separate staircases, escalators, elevators, and parking. This is to guide visitors through the halls to their destination. The six colours all have meanings in relation to BITEC.

  • Purple is referred to colour of the day of birth of HRH Princess Maha Chakri Sirindhorn who presided at the ceremony to establish the centre
  • Red is referred to Rose Atrium
  • Orange is referred to Sun Atrium
  • Yellow is referred to Moon Atrium
  • Green is referred to Hill Atrium or Rubber Tree
  • Blue is referred to Sky Atrium

The colour codes will help to guide visitors throughout BITEC.

10. Only MICE venue in Thailand with the magic hatch

The magic hatch or what is called ‘Utility Hatch’ is important for a MICE venue because it hides bumps and bulges of the wires on the floor. It is hidden under the floor surface and contains all things such as electricity cables, plumbing cables, air deflectors that are installed at the events. The magic hatch is a must-have facility for industrial machinery exhibitions or events with machinery demonstration. Apart from being practical for setting up and providing a seamless appearance, the magic hatch also adds safety and security for the venue. Those hatches installed at every 9 meters on standard exhibition floor.

Apart from the outstanding architectural and meanings behind the design, BITEC also offers the international standards services and facilities to all users to utilise and benefit from the use of the space. The centre is working to provide services, safety and security that respond to alternating needs of MICE business in the next normal era.

Published : November 29, 2021

By : THE NATION

New MRT Purple Line extension a boon to real-estate, say Krungthai Bank analysts #SootinClaimon.Com

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The Krungthai Bank’s business analysis arm, COMPASS, believes the MRT Purple Line’s southern extension will attract up to 80-billion-baht real-estate investment in the Tao Poon-Rat Burana area.

Phacharaphot Nuntramas, COMPASS’ executive vice president, said the 110-billion-baht extension of the MRT Purple Line will be a boon for the real estate market as it will attract investments from the private sector.

He reckons the extension will boost the sale of homes in the area by 25 per cent to 9,600 units this year from 7,700 units between 2018 and 2020.

Once the Covid-19 situation eases, the condominium developments in Bang Sue and Khlong San areas and townhouses in the Pracha Uthit-Phutta Bucha area, in the below 3-million-baht price bracket and those no more than 5 million baht, will benefit the most.

He said these units meet homebuyers’ needs and grant 30 to 40 per cent of the price as profit for the developer.

He also expects the number of convenience stores in the area to rise by two- or threefold. Currently, there are four to five convenience stores per 10,000 people in Thailand.

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Kanit Umsakul, an analyst with COMPASS, said government investment in this project will boost GDP growth by 0.1-0.2 per cent. Though many construction sites were temporarily closed at the start of the third quarter, construction resumed in the middle of the quarter and many developments may meet their deadline in the fourth quarter.

He also believes the real-estate sector will grow significantly next year because the government plans to boost foreign ownership percentage in condominiums. Foreigners can currently only own 49 per cent. The government is also planning to allow foreigners to buy land and houses worth more than 10 million baht.

As for Bangkok and its adjacent provinces, COMPASS speculates that the number of properties bought will rise by 4.8 per cent or by 370 billion baht during the rest of this year, and by 5.1 per cent or 389 billion baht in 2022.

However, it says the number of condominium units bought will drop by 4.4 per cent or 249 billion baht until yearend, though it will rise by 3.2 per cent or 257-billion-baht next year.

Published : October 16, 2021

By : THE NATION

Knight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 Crisis #SootinClaimon.Com

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https://www.nationthailand.com/pr-news/property/40007548


Mr. Nattha Kahapana, Deputy Managing Director and Head of Phuket Operation, Knight Frank Thailand, said that resale condominiums are considered a good indicator of pricing in the condominium market, reflecting the state of the market at any given time period and amid any situation.

There are different factors in play, such as location, condition of the project, project developer’s brand, lifestyle of residents, juristic person administration, and rental returns. For condominiums that are completed and ready for occupancy, the transactions that take place reflect real demand and supply in the local market. As such, the selling prices aptly represent the needs of buyers and sellers.

From a September 2021 survey among a sample group of resale condos located no more than 300 metres from a Sky Train station and from projects not older than 3 years with over 50 percent of the units sold, it was found that, in some cases, the asking prices in the resale market are higher than the initial prices offered by the developer. Most of these units are located near the Blue Line of the Sky Train, around Ratchadaphisek Station; the resale asking price is 162,000 baht per sq m., an upside of 22 percent. In the vicinity of Bang Phlat Station, resale condos have asking prices ranging from 87,000 to 120,000 baht per sq m., representing an upside of 10 to 22 percent. Around Sam Yan Station, despite the fact that they are leasehold condominiums, there is also an upside of 8 percent, with an asking price of 149,000 baht per sq m. The Charan 13 Station area has a resale price of 130,000 baht per sq m., with an upside of 19 percent.

The end of the Green Line at Pu Chao Saming Prai Station has resale condominium prices of 90,000  baht per sq m., which marks an upside of 14 percent. Around the Yellow Line at Thiphawan Station, the resale asking price is 111,000  baht per sq m., an upside of 16 percent. The pre-sale prices of projects in these locations are not high compared to the Green Line locations in the Sukhumvit area. Also, a portion of the units were sold through promotions intended to speed up sales and help developers maintain their cash flow during the Covid-19 crisis, which is reflected in the resale market’s moderate price upside. Additionally, many resale units tend to be quite well positioned within the projects. They have more selling points than other units in the same project as the customers who snap them up during the early sales stages tend to have the option to choose a good location first, for example. As for super luxury condos priced at 300,000 baht per sq m. and up, the upside has been quite limited. However, their target group of buyers are in a very niche market, so if there are products and services that cater to the needs of this group, it is believed that there would still be demand. This group possesses financial stability and has not been affected by the Covid-19 crisis.

Knight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 Crisis

Knight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 Crisis

Resale Condo Ownership Transfers in Q2 2021 Recovered to Pre-Crisis Levels in Terms of Value

Ownership transfers of condominiums in Bangkok and its vicinity among ordinary persons in 2019, before the Covid-19 crisis, amounted to 11.136 to 12.210 billion baht in value. During Q2 In 2020, the transfer value decreased to 7.576 billion baht; it then gradually increased until Q2 2021, to 11.359 billion baht, which is at the same level as during the pre-epidemic period. In terms of the number of unit transfers, it is still recovering but has surpassed its lowest point in Q2 2020. This recovery in transfer value shows that the middle to upper segment of the condominium resale market is likely to recover. Meanwhile, condos in the lower priced segment is showing a slower recovery due to weak purchasing power as well as commercial banks tightening their lending terms amidst high NPL and SML levels, despite any positive outlooks.

Knight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 Crisis

Condominium market was more balanced from 2020 to June 2021, with 23 new projects that sold well with pre-sales of over 80 percent.

Before the Covid-19 epidemic, the condo market was in an uptrend. The average new supply increase was 56,000 units per year, while demand increased by an average of 52,000 units per year as the supply continued to increase. This caused excess supply that required longer sales periods and oversupply concerns arose. In 2020, the launches of new projects slowed considerably due to concerns surrounding the Covid-19 epidemic. As a result, new project launches dropped by 60 percent to about 22,000 units – a dramatic shift from the past, which boasted an average of 56,000 new units launched per year amidst fairly stable demand. In the first half of 2021, developers offered promotions with significantly reduced prices so demand has been at 50,000 units per year, bringing demand and supply in the condo market back to a more balanced state. A survey conducted by the Research and Project Development Consultancy of Knight Frank Chartered (Thailand) Co., Ltd. found that, since 2020, there have been 23 newly launched condominium projects with 6,316 units that achieved pre-sales levels higher than 80 percent. This implies that confidence in the market has increased, and it is on a path of recovery once mass vaccinations and virus controls are in place.

Knight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 CrisisKnight Frank Thailand Reveals Survey Results of Resale Condominiums, still Generating an Upside in the Covid-19 Crisis

Published : October 15, 2021

By : THE NATION

5 Future Scenarios for Bangkok in the Next 30 Years from FutureTales Lab by MQDC #SootinClaimon.Com

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https://www.nationthailand.com/blogs/property/40007245


8 October 2021, Bangkok – Dr. Karndee Leopairote, Executive Vice President of FutureTales Lab by MQDC, said the lab with Arup Foresight and Innovation, Australia, has researched 5 future scenarios in the next 30 years to 2050 for Greater Bangkok, which extends 150 km east from the city. The scenario analysis covers 6 dimensions: Live, Work, Learn, Play, Mobility, and Sustainability.

“The 5 future scenarios for Greater Bangkok are an extension of megatrends research we’ve published. In researching urbanization, future scenarios can help us find the futures we all want, which doesn’t just involve people but also biodiversity, other organisms in the ecosystem, and the environment. These future scenarios don’t clearly show what will or won’t happen. They help provide a more comprehensive analysis. Each scenario presents both opportunities and challenges. They help inspire us to prepare in time for future events,” said Dr. Karndee.

Dr. Anne Kovachevich, Head of Arup Foresight and Innovation, Australia, said: “As the world starts to emerge from the COVID-19 pandemic, it is an interesting time to look out to 2050 and imagine the possible futures of Greater Bangkok. The last few years have seen major shifts in the way we work, live, commute, and play, and alongside that a demonstration of the human ability to adapt. Climate change impacts are clearly visible and becoming more common and extreme; the importance of health and wellbeing has been highlighted by the pandemic and cities are designing in active, healthy solutions; an aging population requires solutions for keeping both body and mind active. Amongst others, we have drawn on a few of these global trends to create 5 plausible futures for the city. These scenarios can be used to test strategies, help identify blind spots, or consider future complexities and opportunities for Greater Bangkok.”

Dr. Pannin Sumanasrethakul, Foresight Research Director at FutureTales Lab by MQDC, said that research revealed 5 future scenarios for Greater Bangkok.
 

Technotopia


The main factors driving this scenario are developments in automation, regional transport, and community engagement. In this scenario, a 7-year-old child may join classes online from his bedroom using VR devices. In the next 30 years, after the global impact of COVID-19, tech companies and advanced countries will bring new technology. Thailand may start thinking and operating under the governance of tech giants.


Ensuring debt management by 2030, this will help Thailand to catalyst the domestic economy and develop the city and its surroundings reaching toward population of over 25 million people. Thailand could thereby become one of Asia’s business hubs by 2050.


Urban Playgrounds


People of all ages will pay more attention to health and exercise. Policies will promote the development of the city to support activities and develop its people’s skills, also attracting more workers from abroad. Technology will meet the needs of residents, helping those with physical handicaps.


Thailand should aim to develop the city and its surroundings so people of all ages can live healthily and safely. The well-being of city residents should be promoted by 2030 with active lifestyles. That would help Thailand by 2050 will be able to attract people globally who are interested in active lifestyles.
 

Decentralised Resilience


Adapting to climate change includes co-creating residential areas with communities. Transport in Bangkok and its surroundings cities adjusts to rising water levels. Taking care of people in the city and its surroundings is a priority.
Drought and flooding are set to be the main challenges, affecting transport and the food system. Adaption and relocation will fuel inequality. Older areas affected by issues such as rising sea levels will contrast with newly developed neighborhoods. Poorer people will have to evacuate to abandoned buildings or move further out of the city. Informal innovations in the city may include floating houses or housing pods. Abandoned buildings may be used for vertical farms.


Based on this scenario, Thailand should focus on solving the problems of drought and flooding in Bangkok and its surroundings. This will lead to the development of mixed-use industrial areas and new lifestyles by 2030. Thailand will thereby have a city that copes with various natural disasters and manages these problems well by 2050.


Accelerated Generations


Education and skill development are greatly improved in Bangkok and its surroundings to bring older adults back into the labor market. The community is involved in helping design the city to meet the needs of urban development and take care of the environment.
To meet the needs of older adults and bring them back into society Thailand must apply the proper economic concepts. Implementing values that focus on family and environmental balance by 2030, Thailand will achieve leadership in startups by 2050. People of all ages will be integrated into the workforce, where the knowledge and expertise of older adults will combine with the new concepts of younger generations.


Transforming Lifestyles


Tourism will grow as environmental protection helps drives ecotourism and health tourism. Developing the skills of people in the tourism industry will also be important. The tourism industry’s outlook will be altered by the pandemic. Rather than looking at tourist numbers, the industry will focus on visitors who stay a long time, drawn by physical and mental well-being. Access to good quality of life and healthcare encourages people to slow down and value well-being and the environment.


Under this scenario, Thailand should focus on skills development to devise a strategy for the city and its surroundings to be a green megacity by 2030 that restores physical and mental health. Developing skills will attract workers from all over the world to a city that promotes well-being, including learning, which is the main goal for 2050.


“FutureTales Lab by MQDC has analyzed and studied each scenario from various angles for the next 30 years. For policymakers and communities we can provide recommendations for urban development, enabling everyone to prepare for achieving a desired future together,” said Dr. Sumanasrethakul.

Reference: Future of Urbanization Scenarios research.

Published : October 08, 2021

By : THE NATION

“ORIGIN” Joins Forces With “TOKYU LAND ASIA” in “One Phayathai” Mixed-Use Project #SootinClaimon.Com

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https://www.nationthailand.com/property/40004259

“ORIGIN” Joins Forces With “TOKYU LAND ASIA” in “One Phayathai” Mixed-Use Project


“Origin Property” announced its business expansion through a joint venture with “Tokyu Land Asia” to develop “One Phayathai”, a mixed-use project with 3.6-billion-baht REIT value that gathers offices, retails and hotels in one building.

As part of moving to the NEXT LEVEL, “Origin Property” announced its business expansion through a joint venture with “Tokyu Land Asia” to develop “One Phayathai”, a mixed-use project with 3.6-billion-baht REIT value that gathers offices, retails and hotels in one building. This project also becomes the first IHG Dual Branded Hotel in Thailand as it brings Hotel Indigo and Holiday Inn Express to be in one place. Its prime location can easily reach two international airports. It expects to serve demands from both Thai and foreigners by the end of 2023 when the COVID-19 pandemic falls off.

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Mr.Peerapong Jaroon-ek,Chief Executive Officer of Origin Property Public Company Limited (ORI), says that following its ‘ORIGIN NEXT LEVEL’ vision, the company’s subsidiary, One Origin Company Limited, has announced a new business expansion through a 51:49 joint venture with Tokyu Land Asia Pte Ltd, a subsidiary of the umbrella of Tokyu Land Corporation, one of the leading property developers in Japan, to develop One Phayathai, a mixed-use project with REIT value over 3.6 billion baht. The companies aim to expand their recurring income business in Thailand.

“Tokyu Land Asia is our significant partner due to its strengths in capitals, know-how technology and fruitful experiences in property development across Japan and Southeast Asia. Importantly, it has shared the same vision with us to create the best ecosystem for our residents. This collaboration will enable both companies to share knowledge related to sustainable development and environmentally-friendly design, which will be another big step to create the NEXT LEVEL of the quality of life for our customers,” says Peerapong.

Tokyu Land Asia is a property development and investment arm of Tokyu Land Corporation, which has recorded over 67 years of experience in property business in Japan. Tokyu Land Corporation is a subsidiary under Tokyu Fudosan Holdings Corporation, a Tokyo Stock Exchange-listed firm. As one of Nikkei 225 companies list, Tokyu Fudosan Holdings Corporation reported a total asset of 2.652 trillion yen or approximately 790 billion baht in the latest financial report. This latest joint venture has reflected its confidence in Origin Property and Thailand’s investment climate.

Mr. Masaoki Kanematsu, Managing Director of Tokyu Land Asia Pte Ltd, as of the execution of the joint venture, says that the joint venture in One Phayathai is its first-ever investment in Thailand after it has searched for the right partner in Thailand for years. The company is pleased to have Origin Property as its partner as it is well-known for its reliability and has a good reputation in the industry. This joint venture will also initiate the knowledge sharing between both companies and further explore more potential collaboration opportunities in other areas, for example, logistics, renewable energy and other prospective businesses in Thailand.

One Phayathai is a mixed-use project which has a 31-floor building next to a luxury condominium, Park Origin Phayathai, in the center of Bangkok. This project is developed under the “ONE STEP JOURNEY” concept, gathering all lifestyles at one place. This is the first project in Thailand that will have two world-class hotel brands within the same building. One is boutique brand Hotel Indigo with 210 rooms and the other is trusted essential brand Holiday Inn Express with 202 rooms. Under the IHG Hotels & Resorts family of brands, the hotels will offer differentiated hotel experiences for both leisure and business travelers.

In addition, the building offers a commercial space of 2,200 square meters for shops and offices. The space utilization covers 26,880 square meters. The project’s location is 200 meters from the Phayathai interchange station of BTS Green Line and Airport Link to Suvarnabhumi International Airport and Don Mueang International Airport. It is scheduled to start the construction in Q3/2021 and expected to complete it by Q4/2023. By then, the COVID-19 situation is expected to be under control.

One Phayathai pays attention to a design that must be friendly to both the environment and local communities nearby. Therefore, it will provide a green area in front and make a vertical green façade to reduce the heat from outside the building. The fenestrations will be large enough to let natural light come inside the building in order to avoid unnecessary heat and save energy consumption. It also considers an automatic car parking system to reduce the pollution emission in car parking lots on the ground. Additionally, it will use only energy-saving, environmentally-friendly and low albedo construction materials for the sake of communities around the project.

Published : August 05, 2021

Real Estate Trends in the Digital Era #SootinClaimon.Com

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https://www.nationthailand.com/property/40002410

Real Estate Trends in the Digital Era


Get yourself ready for property news and investment in the real estate industry in the fast-changing world.

Real Estate Trends in the Digital Era

In this fast-changing digital world, it has never been more dangerous for companies to neglect the importance of harnessing new technologies. Of course, the real estate industry is no exception.

All property developers have had to embrace digital technology as it has enabled them to better serve customers and stay ahead of their competitors. This is the best time to revolutionize real estate business models as the Covid-19 pandemic has profoundly changed the ways people live, work and play in a way that could never have been imagined previously.

Most businesses have needed to adapt and innovate to ensure consistency of services during extensive lockdowns and to ensure they serve customers in a way that safeguards health and safety.

With this in mind, this article will provide you with an overview of key digital trends in the real estate industry which have become crucial in order to build resilient business operations, remain competitive, create a digital-first culture and thrive in the long term.

Property InvestmentProperty Investment

1. Big Data for planning and making a decision

The term ‘Big Data’ has been around for some time, but what does it actually mean? And how does it impact the real estate industry?

Well, let’s think of our habits when we watch Netflix or YouTube, we tend to binge on shows suggested by algorithms that seem to understand our preferences. These algorithms make use of big data and analytics, such tools allow companies to utilize data to better understand customer needs and behaviors, in order to provide them with a more tailored and personalized experience.

In the context of real estate, developers can invest in advanced analytics tools in order to identify potential opportunities such as types of property for development, property investment opportunities, customer profile/buyer insights, market forecasts or price segmentation using a wide range of data sources.

2. Robotic Process Automation (RPA) for task automation

Real estate and property management involves working with many different documents and involves lots of time-consuming processes.

Investing in cloud-based RPA software will help realtors improve efficiency and productivity by eliminating or minimizing tedious labour-intensive tasks which are rule based such as data migration, data extraction, data updating, monthly invoices or other activities that are highly objective and repetitive.

RPA is capable of automating such tasks with speed, to a high quality and without errors. A key candidate for the application of RPA technology is in back-office support functions (e.g. accounting and HR) as tasks in this area often show a relatively high share of repetitive and structured processes which demand lots of manual time and effort from employees.

Through RPA automation, this can help companies recognize both financial and operational efficiencies, freeing up employees to focus on more value-add activities and on delivering a better customer experience which can ultimately lead to better customer outcomes and property investment decisions.

3. VR and AR Technologies for property showings

Virtual Reality (VR) and Augmented Reality (AR) have numerous applications in the real estate industry. Both technologies can play a vital role in seizing people’s attention and can provide the ultimate convenience to both customers and realtors.

A virtual 3D property walkthrough can be a highly appealing experience, it helps buyers to see the 360-degree view of each room. The buyers can move around the property and be provided with décor ideas when the property is fully staging and also can customize the home to their liking by adding furniture as well as moving items around to really bring their vision of the property to life, providing a truly cutting-edge customer experience.

Furthermore, such technology can also help realtors attract international buyers by removing any geo-locational restraints.

Smart Living HomeSmart Living Home

4. Blockchain for transparency and security

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Blockchain is a decentralized ledger of transactions through a peer-to-peer network. It allows customers to make transactions without the need for a central certification authority. It is a revolutionary technology which has the power to transform many different industries including real estate.

For example, it can be used to transform core real estate operations such as property transactions including purchasing, sales, financing, leasing, and record management.

It also has the power to transform norms around high value asset transactions which are typically done face-to-face. Through smart contracts, enabled by blockchain platforms, assets like real estate can be tokenized and safely and securely traded like cryptocurrencies.

The technology can solve several property-related pain points, such as preventing fraud, improving security of digital transactions, and cutting out the middleman when it comes to getting permits, notarizing forms, and performing other business support functions.

5. Mobile Apps can serve many purposes

Searching, buying, renting or selling houses using smartphones is increasingly becoming more commonplace as mobile technology has made the process easier and more convenient.

Mobile apps can allow players in the real estate industry to make use of mobile features such as push notifications, camera, and GPS integration and offer access to real estate tools such as a mortgage calculator for property investment.

Most crucially such apps offer fast and efficient customer engagement opportunities and can act as a channel to bring buyers and sellers closer together.

When building a mobile app in the real estate industry, it is important to bear in mind the purpose of the app. The target audience’s needs and expectations and consider how the application fits into a wider digital strategy which enables a seamless and consistent customer experience across touchpoints and channels.

6. Chatbots for customer engagement and lead generation

Chatbots can be found in almost all industries nowadays, but how can they increase efficiency in the real estate industry? Consider when a customer wants to buy something online, when they ask the seller for more information, if the seller is able to respond quickly, the chances are higher that the customer will make the purchase.

The same concept applies in the real estate industry, where chatbots can give an immediate response to customer queries when they are in the final stages of the customer buying cycle, which means customers can get the information they need right away.

Moreover, if customers are in earlier stages of the buying cycle, chatbots can be used to capture relevant customer information (such as name, contact details and buying preferences) which support lead generation and can ultimately lead to sales in the future, if the customer information captured by the chatbot is supported through a strong customer relationship management (CRM) approach.

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7. IoT for Smart Living

The importance of IoT (internet of things) in real estate is crucial as this technology can bring new life to physical objects, embedded with software and network connectivity, homes can be transformed through features such as automated doors, smart locks and smart refrigerators which can be controlled through smartphones.

Such cutting-edge technology can make homes safer and more secure, improve energy efficiency and improve the overall experience of the home which ultimately can result in higher market value for homes which make use of IoT and smart technologies.

A McKinsey & Company study has found that the pandemic has accelerated the digital transformation agenda of many companies by up to seven years. Since societies are changing towards a more digital world, the real estate industry has to integrate technologies into its business fundamentals to continue serving customers.

Digital innovation will continue to disrupt business models across various industries, meaning it is increasingly important for real estate industry players to continue embracing new technologies to remain relevant and fend off the threat of disruption.

To do so, companies must move away from pre-pandemic organizational orthodoxies which have been uprooted by digital transformation and continue with a more digital-first approach, which will not only help the industry thrive during this crisis but will also help them to accommodate the needs of millennials as this digitally savvy customer cohort becomes increasingly interested in property investment and buying opportunities.

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Published : June 24, 2021

COUNTRY GROUP DEVELOPMENT (CGD) STRENGTH DRIVES FIRST QUARTER RESULTS #SootinClaimon.Com

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https://www.nationthailand.com/property/40000973

COUNTRY GROUP DEVELOPMENT (CGD) STRENGTH DRIVES FIRST QUARTER RESULTS


Country Group Development Public Company Limited (CGD) today announced the following results for the quarter ended March 31, 2021, as compared to the corresponding period of last fiscal year despite COVID-19 second wave

COUNTRY GROUP DEVELOPMENT (CGD) STRENGTH DRIVES FIRST QUARTER RESULTS

CGD today announced the following results for the quarter ended March 31, 2021, as compared to the corresponding period of last fiscal year despite COVID-19 second wave:

• Revenue was THB 1,256 million and increased 238%

• Operating Profit turned THB 163 million from negative THB 627 million

• Net Loss was THB 302 million and reduced 68%

Quarterly Highlights

• The company reported an increase in operating revenues and profit from operating activities despite the continued challenges of COVID-19 pandemic and the government imposed controls.

• First quarter revenue more than tripled from a year ago with the following notable highlights:

• Sale of the Four Season Private Residences (FSPR) remained the key contributor to the overall revenue at THB 971 million and increased 176% from the same period last year while maintaining its high gross profit margin of 50%

• Extraordinary revenue from investment project was THB 277 million from completion of surrender with the incumbent tenant and in line with the repositioning plan for the asset

• Operating profit was THB 163 million compared to negative THB 627 million last year.

• Excluding extraordinary items from gain and loss from investment project and foreign exchange rate, the ordinary operating profit was THB 368 million and increased 206%.

• Net Loss was THB 302 million and reduced 68% from THB 940 million last year, the loss mainly attributed to financial costs and loss from foreign exchange rate.

Outlook

• Although the short-term outlook remains uncertain, the longer-term outlook is becoming increasingly promising with positive news on the effectiveness and the rollout of vaccines, as well as the business on the books showing a positive trend.

• The company continues its capital strengthening plan with the divestment of hotel assets. The transaction is expected to significantly reduce financial costs, mitigate future foreign exchange exposure, as well as providing the company with a stable financial platform for business growth and sustainability.

• CGD is well-positioned to leverage on its high-quality brands and assets to generate revenues. The company expects a continued positive performance with THB 15 billion worth of ready to transfer assets to be gradually recognized in the following quarters.

• The company will remain agile and continue to take proactive measures on balance sheet management and cost control as the global economic recovery gains speed.

Published : May 17, 2021