Chinese top foreigners who purchased condos in Thailand: REIC

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https://www.nationthailand.com/property/40015719


Chinese bought the most condominiums among foreigners in the first quarter of 2022, the Real Estate Information Centre (REIC) reported.

Chinese top foreigners who purchased condos in Thailand: REIC

REIC acting director-general Wichai Viratakaphan said 2,107 condominium units worth THB10.26 billion were transferred to foreigners in the first quarter of 2022.

In the same quarter last year, foreigners that bought the most condominiums were:

  1. Chinese: 949 units
  2. Russians: 134 units
  3. US citizens: 114 units
  4. Britons: 91 units
  5. Germans: 81 units
  6. French: 77 units
  7. Taiwanese: 53 units
  8. Indians: 51 units
  9. Canadians: 40 units
  10. Australians: 34 units.

As for value, the foreigners that spent the most by nationality in quarter one of 2021 were:

  1. Chinese: THB4.57 billion
  2. Russians: THB435 million
  3. Cambodians: THB401 million
  4. Taiwanese: THB391 million
  5. French: THB390 million
  6. US citizens: THB344 million
  7. Britons: THB325 million
  8. Australians: THB318 million
  9. Indians: THB271 million
  10. Germans: THB255 million.

In the first quarter last year, 45 per cent of condominiums sold to foreigners were bought up by Chinese citizens.

However, Wichai said it was surprising that Cambodians spent the third highest amount among foreign buyers with 4 per cent, and was listed in the top ten ranking for the first time.

He added that India was also significant in condominium purchases and value as the country had not been listed among the top ten for the past four years.

Wichai said the number of condominium sales in the first quarter of 2021 was close to the number before the Covid-19 pandemic.

He expected foreign purchasing power to increase with the government easing entry restrictions on international arrivals.

Moreover, if China keeps its lockdown measures and the Ukraine-Russia conflict continues, real estate sales will be limited and property owners might have to rely on domestic purchasing power in the second half of this year, Wichai added.

Published : May 19, 2022

By : THE NATION

Land prices around five rail projects see substantial increase in first quarter

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https://www.nationthailand.com/property/40015215


The land price around the SRT Light Red Line (Taling Chan-Sala Ya) project grew the most compared to other areas, the Real Estate Information Centre (REIC) reported.

Land prices around five rail projects see substantial increase in first quarter

It announced that the top five areas with the highest land price growth in the first quarter of 2022 were:

1. The SRT Light Red Line (Taling Chan-Sala Ya). The project will be constructed in the future. The land price grew by 8.5 per cent year over year. The price increased substantially in both Thawi Watthana and Taling Chan districts.

2. The MRT Pink Line (Khae Rai-Minburi). The line is 90 per cent complete. The price of land in this area grew by 8.2 per cent year-on-year. The price increased heavily in Lak Si and Khan Na Yao.

3. The MRT Purple Line (Bang Yai-Tao Poon). The line was opened in August 2016. The land price grew by 6.7 per cent year over year. The price increased a good deal in Mueang Nonthaburi and Bang Bua Thong.

4. The MRT Blue Line (Bang Khae-Phutthamonthon Soi 4). The project will be constructed in the future. The land price grew by 6.3 per cent year over year. The price increased heavily in Nong Khaem and Bang Khae.

5. The BTS Green Line (Samut Prakan-Bang Pu and Bearing-Samut Prakan). The Bearing-Samut Prakan section has already opened while the Samut Prakan-Bang Pu line will be constructed in the future. The land price grew by 5.8 per cent year-on-year. The price jumped in Mueang Samut Prakan.

The Government Housing Bank’s REIC said electric train plans for the future have influenced land prices.

Published : May 04, 2022

By : THE NATION

Building contractors win huge response from homebuyers at latest fair

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https://www.nationthailand.com/property/40014469


A Bangkok home construction fair generated some 3.6 billion baht in revenue for contractors, with most consumers ordering the building of homes in the 2.5 million to 5 million baht range.

Building contractors win huge response from homebuyers at latest fair

Worawut Kanchanakul, president of the Home Builder Association, said the Home Builder Focus 2022 fair held between March 3 and April 3 in Muang Thong Thani drew more than 10,000 visitors.

He said some 1,000 house models were offered at the fair and the revenue generated from sales was 70 per cent higher than last year.

“In previous years, the fair usually generated up to 1.9 billion baht. Last year, the value of building contracts came in at 2.1 billion baht,” Worawut said. “This year, we did not expect the revenue to rise up to 3.6 billion baht.”

He said 45 per cent of those looking to build new homes signed construction contracts in the range of 2.5 million and 5 million baht, while 32 per cent signed contracts between 5 million and 10 million baht. Only 2 per cent signed contracts below the 2.5 million baht budget, he added.

Building contractors win huge response from homebuyers at latest fairWorawut said this fair indicates that Thai consumers have higher purchasing power than what was expected by his association and the biggest buyers were in the 35 to 40 years age group.

He said contractors from other provinces also joined the fair, including from Nakhon Ratchasima, Sakon Nakhon, Maha Sarakham, Udon Thani and Chanthaburi.

“The association has seen good economic signs from the fair, including rising consumer confidence. Those who own land can make decisions easily, and the market for home builders is improving,” Worawut said.

Published : April 12, 2022

By : THE NATION

Thai property market goes green as more developers go for solar roofs

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https://www.nationthailand.com/property/40014206


With surging crude oil prices pushing up power bills, several key property developers have started including solar roofs and EV chargers in new houses.

Thai property market goes green as more developers go for solar roofs

Sutirapan Sakkawatra, vice president of Siam Commercial Bank, said this green trend was spotted recently when loans worth 600 million baht were granted to buyers of homes with solar roofs, buyers of electric vehicles (EVs) or those installing solar roofs in their homes.

Praphansak Rakchaiwan, managing director of property consultation company Lumpini Wisdom and Solution Co Ltd, confirmed this green trend. He said the price of solar panels for houses and condominium units has dropped a lot over the past 10 years. Now, the cost of a hybrid solar energy system that connects to the power grid has gone down to about 169,000 baht, which can be easily recouped in five years, he said.

Eventually, he added, solar panel users can end up saving some 945,000 baht over 25 years. He reckoned that at least 20 per cent of new home buyers will opt for units with solar roofs.

Thai property market goes green as more developers go for solar roofsMeanwhile, Property Perfect Plc said it plans to install solar roofs in 30,000 units it is building and will install EV chargers in some 50,000 units.

Wongsakorn Prasitwiphak, managing director of Property Perfect, said the company has partnered with SCB, SCG and EV Lomo to install these chargers. The cost of the installation will be added to the price tag of the new units and the company will also offer to install EV chargers for existing customers.

Sansiri Plc said it will install solar roofs in 1,825 units it is scheduled to build this year.

Supalak Chanpithak, CEO of Britania Plc, said its parent company – Origin Property – has partnered up with Gunkul Engineering to make inroads in the clean energy business for housing units.

He added that Britania will install solar roofs on some 200 housing units in projects in Bangkok and its suburbs to build so-called “solar villages”.

Thai property market goes green as more developers go for solar roofsBritania will also install EV chargers in public areas of these solar villages.

Separately, Sena Development Plc said it will invest 600 million baht in the installation of solar panels, especially in its new 15-rai Sena Viva Chalong Krung-Lat Krabang project in Bangkok.

Published : April 05, 2022

Foreigners bought fewer units in 2021, but spent more, survey finds

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https://www.nationthailand.com/property/40013942


A recent survey by the Government Housing Bank’s Real-Estate Information Centre (REIC) found that though fewer properties in Thailand were bought by foreigners last year, the value of the units they bought was significantly higher.

Foreigners bought fewer units in 2021, but spent more, survey finds

According to the survey, a total of 8,198 units were sold to foreigners in 2021, marking a 1.1 per cent drop from 8,287 units sold the year earlier. However, the value of the units bought by foreigners rose 5 per cent year on year to 39.61 billion baht and the size of the units also rose 4.1 per cent to a total of 355,315 square metres.

The survey also found that foreign buyers mostly bought units with a price tag of 3 million baht or less (4,046 units), followed by 1,858 in the 3 million to 5 million baht price range, 1,219 units in the 5 million to 7 million baht range, and 510 units in 7 million to 10 million range. Foreign buyers also purchased 565 units worth more than 10 million baht in 2021.

Chinese nationals were the biggest buyers, purchasing 4,867 units or 59.4 per cent of all property sold to foreigners last year. Russians came in second with 306 units or 3.7 per cent, followed by Britons at 280 units and Americans at 279 units. German and French nationals tied for fifth place with 234 units (2.9 per cent).

Chinese buyers also spent the most or 22.87 billion baht, while Americans came in second at 1.29 billion baht, followed by Britons at 1.25 billion baht.

According to the survey, the top five provinces that attracted the most foreign property buyers in 2021 were: Bangkok (4,213 units), Chonburi (2,398 units), Phuket (344 units), Samut Prakan (337 units) and Chiang Mai (313 units).

Published : March 29, 2022

By : THE NATION

The Forestias: A home that comes with a lifetime of holistic care

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https://www.nationthailand.com/pr-news/property/40013920


The Forestias recently reported sales of residences under the various brands at The Forestias to have exceeded 17.20 billion baht or about 40 per cent of the available residences.

The Forestias: A home that comes with a lifetime of holistic care

Leading Thai property developer MQDC (Magnolia Quality Development Corporation) announced on Monday that it is introducing a new home-ownership concept.

The 398-rai, 125 billion baht mixed-use project – “The Forestias” – being constructed on Bang Na-Trat KM7 is Thailand’s largest private sector property development project.

The new concept, developed under The Aspen Tree brand, aims to not just provide a home, but also a lifetime of first-class healthcare and wellness services, 24/7 care support, housekeeping services, as well as health insurance and many other facilities for residents aged over 50 years. All of these facilities are covered in the home-buying payment as part of a new “Holistic Lifetime Care” concept of homeownership.

“People want uncertainty taken out of their lives, especially as they get older and at a time when the world is living through multiple issues that make the future increasingly unpredictable. With a one-time investment in purchasing an Aspen Tree home, we are essentially removing all the worries and uncertainties of what will happen to many of the living costs that are constantly going up around us, year after year. It is a great value-for-money offer for true peace-of-mind,” Kittiphun Ouiyamaphun, project director, said.

He added that as part of assuring a worry-free future for homeowners, even common area fees that are liable to keep increasing are waived under the new concept.

The Forestias: A home that comes with a lifetime of holistic care

Kittiphun added that Aspen Tree branded homes complement The Forestias’ other residential offerings which are under the Whizdom, Mulberry Grove, and Six Senses brands and that they are “a part of our masterplan to create a community that allows multiple generations with different lifestyles to live within easy reach of each other and close to nature”.

Hye June Park, president of The Aspen Tree at The Forestias, said: “We’re offering 290 Aspen Tree lifetime care residences ranging from 83 square metres to around 253 square metres, with gardens. They are in a 23-rai district that is located at the heart of The Forestias giving almost every home a refreshing view of the development’s 30-rai forest.”

The Forestias: A home that comes with a lifetime of holistic care

According to Park, The Aspen Tree targets a rapidly growing group of affluent over-50s who are looking for a home that is both right for them now, as well as one that will “allow them to live independently and with full health, wellness, and professional care services readily accessible when they reach their golden years in decades ahead”.

The new homeownership concept includes a lifetime service package that provides healthcare and wellness services, housekeeping services and catering for special dietary needs, as well as access to communal dining areas and a clubhouse where social activities such as art and crafts workshops and regular physical and mental fitness programmes are organised. Many of these are provided without any extra charge and on top of the health insurance programme that covers medical and nursing needs until the age of 99.

The Forestias: A home that comes with a lifetime of holistic care

The Aspen Tree includes a health and brain centre where more specialised medical needs are provided.

The unique design features being introduced in the homes are extra-spacious bathrooms, wider-than-usual corridors and doorways, and a special emphasis on safety and easy maintenance. The homes offered are fully-fitted and partially furnished.

“During the introductory period until May 31, we are inviting friends to book units together as part of a limited ‘Best Friends Forever’ package that gives each buyer up to 1.8 million baht discount on their unit, as well as cash credit of 300,000 baht each, which can be used at the various shopping outlets, restaurants, and other facilities at The Forestias,” Park said.

The Forestias: A home that comes with a lifetime of holistic care

She added that people who have purchased residences in other parts of The Forestias can also introduce their friends and relatives to The Aspen Tree and buyers coming with such a reference would qualify for the discounts and the credits, while the referring resident would also receive a special cash award of up to 400,000 baht.

The Forestias recently reported sales of residences under the various brands at The Forestias to have exceeded 17.20 billion baht or about 40 per cent of the available residences.

The Forestias is located in the rapidly developing Eastern Economic Corridor and includes large areas of parkland, residential properties under multiple brands that appeal to different lifestyles and generational needs, as well as numerous commercial and community components with a focus on healthy living and environmental quality.

Published : March 28, 2022

SRT opens bids for development of land along Bang Sue-Khlong Ton line

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https://www.nationthailand.com/property/40013880


The State Railway of Thailand (SRT) is seeking bidders for the development of its 5.88-rai plot of land along the Bang Sue-Khlong Ton railway line in Bangkok, an SRT source said.

SRT opens bids for development of land along Bang Sue-Khlong Ton line

The source added that interested parties have until April 24 to submit their bids and that SRT will announce the shortlist by May 24 and the final choice on May 27. The source said SRT wants the 9,400-square-metre plot to be developed for commercial use and is coordinating with relevant government agencies to amend city-planning regulations accordingly.

The source said SRT decided to go ahead with seeking a developer even though the regulations have not been amended. To prevent conflicts in the future, SRT has added a condition to the terms of reference, saying that if the regulations are not amended within five years, the bid will be revoked.

Meanwhile, once the amendment is announced in the Royal Gazette, the bid winner will be required to submit a blueprint of the development plan to SRT within a year.

The source said SRT also plans to collect 172.24 baht per square metre per year as fees for the use of the plot as commercial land. This fee will be bumped up by 5 per cent every year, and the land can be leased for a maximum of 30 years a time.

The developer will also be charged for renting the land to construct buildings in the second, third and fourth years. SRT expects to earn 404,764 baht, Bt809,528 baht and Bt1.214 million baht in the second, third and fourth years.

Published : March 27, 2022

By : THE NATION

AP (Thailand) is the top real estate developer this year with 65 projects

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https://www.nationthailand.com/property/40013047


AP (Thailand) tops the list of Thailand’s 10 top real estate developers with the highest investments in new residential projects this year.

AP (Thailand) is the top real estate developer this year with 65 projects

The Real Estate Information Centre said the number of new residential units in Bangkok and suburban areas will see a sharp jump from 46,602 units last year to 81,126 units built by the 10 top residential developers based on their project plans as follows:

AP Thailand

New launches: 65 projects with a total value of Bt78 billion

Revenue target: Bt47 billion

Presales target: Bt50 billion

AP Thailand deputy managing director Witkarn Chanwimol said that this year, they will launch the highest number of projects since the founding of the company. The new projects are divided into 29 townhome projects with a value of Bt25.2 billion, 26 single detached house projects with a value of Bt35.6 billion and five condominium projects with a value of Bt13 billion as well as five residential projects in the provinces worth Bt4.2 billion.

Sansiri

New launches: 46 projects with a total value of Bt50 billion

Revenue target: Bt35 billion

Presales target: Bt35 billion

Sansiri CEO Srettha Thavisin said the company will launch 46 new projects this year, divided into 18 condominium projects and 28 other residential projects on the ground.

Noble Development

New launches: 18 projects with a total value of Bt47.7 billion

Revenue target: Bt29 billion

Presales target: Bt28 billion

Thongchai Busrapan, vice chairman and co-CEO of Noble Development, said his company would launch 18 projects this year, comprising 12 low-rise condominiums and ground residential projects with a value of Bt18.8 billion and six high-rise condominium projects with a value of Bt28.9 billion.

Origin Property

New launches: 31 projects with a total value of Bt42 billion

Revenue target: Bt17.5 billion

Presales target: Bt35 billion

Origin Propery CEO Peerapong Jaroon-ek said the company’s new projects will see a 137 per cent increase this year, compared to last year. The new projects comprise 12 single detached house projects with a total value of Bt13.4 billion and 19 condominium projects with a value of Bt15 billion.

Supalai

New launches: 34 projects with a total value of Bt40 billion

Revenue target: Bt29 billion

Presales target: Bt28 billion

Supalai managing director Traitecha Tungmatitham said the Covid-19 situation had affected buyers’ confidence last year so it launched just 23 residential projects. But this year, Supalai plans 34 new projects — 31 residential projects on the ground and three condominium projects. Supalai also plans to expand its projects to Chachoengsao, Lamphun, Nakhon Sawan, Nakhon Pathom and Prachuap Khiri Khan provinces.


SC Asset Corporation

New launches: 27 projects with a total value of Bt40 billion

Revenue target: Bt22 billion

Presales target: Bt22 billion

SC Asset CEO Nuttaphong Kunakornwong said the company is breaking its record of new project launches this year. The 27 new projects comprise 25 residential projects with a value of Bt33.5 billion and two condominium projects worth Bt6.5 billion. The company also has a budget of Bt11.5 billion to purchase new land plots this year for future projects.

Land and Houses Plc

New launches: 15 projects with a total value of Bt29.52 billion

Revenue target: Bt33 billion

Presales target: Bt31 billion

The company plans to launch 15 new projects this year with a total value of Bt29.52 billion. They include 11 single detached house projects, four twin-house projects, two townhouse projects and one condominium.


Frasers Property Thailand

New launches: 25 projects with a total value of Bt29.5 billion

Revenue target: Bt13 billion

Presales target: Bt25 billion

Frasers Property Thailand CEO Saenphin Sukhee said the company will launch 10 townhome projects, two twin home projects, 10 single detached house projects and three other residential projects in the provinces.

Ananda Development Plc

New launches: Seven projects with a total value of Bt28.4 billion

Revenue target: Bt12.186 billion

Presales target: Bt13.979 billion

Chanon Ruengkrittiy, the CEO of Ananda Development, said the company plans to launch seven projects with a total value of Bt28 billion — five condominium projects and two residential projects on the ground.


Sena Development Plc

New launches: 49 projects with a total value of Bt27.480 billion

Revenue target: Bt12.186 billion

Presales target: Bt13.979 billion

Ketsara Thanyalakpark, the managing director of Sena Development, said the company would be undergoing a major transformation this year and would launch 15 projects worth Bt27.48 billion.

Published : March 04, 2022

By : THE NATION

SCG launches two experiential activities to showcase its innovations

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https://www.nationthailand.com/pr-news/property/40012325


SCG is adding momentum to its campaign “SCG for Smart Living, Smart City” with two engaging activation programmes bringing innovations and inspiration to people.

SCG launches two experiential activities to showcase its innovations

SCG Smart City will introduce people to living innovations and new technologies from SCG in an experiential journey into the gamified world on the website scgsmartcity.com, the company said, while “Dwell Well” is open for visits as an exhibition of home and living in the now normal on the first floor of SCG Home Experience.

Both activities are now open to the public for free.

Porawan Mahatanasuk, customer and brand management director at SCG Cement and Building Materials Business, said, “As the innovation leader, SCG creates innovative products, services and solutions for construction and living and concurrently builds enriched consumer experience and brand engagement. We are today bringing to life our ‘SCG for Smart Living, Smart City’ concept with online and on-ground activation programmes. A newly built website, SCG Smart City, now emerges as the first step in our gamification of living experience, and we are also holding the Dwell Well exhibition.”

Porawan added, “Both will be superb sources of knowledge, experience and inspiration, allowing consumers to explore home, living and construction innovations and solutions that they can apply to their home and building for a better quality of life as we all adapt to the living condition of today’s time that exposes us to numerous challenges, including environmental problems, pollution and health threats from the prolonged outbreak of Covid-19.”

In SCG Smart City, each player can take a journey to explore product innovations and solutions from SCG that address their needs in a variety of home and building spaces. They will learn about innovations for better living and be inspired to create a dream house. Points can be collected to redeem prizes and privileges.

To start playing:

  • Create an avatar by answering questions based on your living preferences.
  • Start your journey into SCG Smart City that lets you enter your interested places with a simple click to discover living innovations for home and building spaces.
  • In each place, click on hidden products to earn points to redeem the prize

The Dwell Well exhibition brings its living innovations and solutions all in one place. It features three exhibit zones:
Zone 1 – Home Insights: It uses mapping technology to visualise problems to build consumer awareness of the problems, enabling them to identify needs and see advantage gaps between their existing and dream houses
Zone 2 – “Now Normal Home”: It gives visitors a glimpse of home and living in “now normal” settings where people have already adapted to coexist with problems and explore how homes will change
Zone 3 – Smart Living: It lets visitors experience and discover how SCG products can be used to solve these problems and make living better.

The exhibition is open to visitors until September 2022 at SCG Home Experience on the first floor on Praditmanutham Road (Ekamai-Ramindra).

“At SCG, we believe that quality living begins with good planning today. These two inspiring, experiential activities will attract the young generation and our target audiences to equip them with the knowledge and understanding to make suitable choice of product innovations for construction and living based on individual needs and preferences,” Porawan concluded.

SCG launches two experiential activities to showcase its innovations
SCG launches two experiential activities to showcase its innovations
SCG launches two experiential activities to showcase its innovations
SCG launches two experiential activities to showcase its innovations
SCG launches two experiential activities to showcase its innovations

Published : February 14, 2022

By : THE NATION

Colliers predicts 33% surge in Bangkok condo supply

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https://www.nationthailand.com/property/40012316


A leading property consultancy forecasts a surge in Bangkok condominium supply this year as the Covid-19 situation improves.

Colliers predicts 33% surge in Bangkok condo supply

Colliers International Thailand predicts a rise of 33.7 per cent to 33,569 new condo units in 2022, after supply fell to a 13-year low of 25,113 new units in 2021.

Most of the new condominiums will be in outer Bangkok with a price tag of 70,000 to 120,000 baht per square metre, said Collier’s research director Phattarachai Taweewong.

Last year, the majority of new condos (57.4 per cent) were located in outer Bangkok districts of Huai Khwang, Chatuchak and Phasi Charoen.

Major real estate developers focused on new builds in outer Bangkok with a selling price under 50,000 baht per square metre.

However, the closure of construction camps and transport bans for labourers due to Covid-19 outbreaks disrupted construction, meaning condo developers failed to meet handover deadlines.

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A drop in foreign demand and leftover supply also drove down new condo developments in Bangkok last year, said Colliers.

Published : February 14, 2022

By : THE NATION