Post by account_disabled on Dec 27, 2023 20:37:33 GMT
Knight Frank Thailand points out that the condominium market in Bangkok has slowed down, while that the resale market is likely to grow Mr. Frank Khan, Executive Director and Head of Residential Project Consulting, Knight Frank Thailand Company Limited, revealed that the condo market in Bangkok was quite slow throughout 2019, as was the case in many important cities such as Pattaya, Hua Hin and Phuket. Condo ownership in Bangkok from the end of 2018 decreased by 15 - 20%, which was mainly a result of the global economy. Even though there are government mega projects developing all over Bangkok. In addition, Thai buyers who have invested in the real estate market in the past 2-3 years have slowed down their investment. Because the buyer market has reached saturation point. Moreover, the baht's appreciation has reached its highest level in six years, causing foreign investment to decrease as well. The current sales rate is not the same as in the past few years, especially from Chinese investors. This is a nation that often invests in real estate abroad, and transferring large amounts of money out of the country may affect China's economic stability. Therefore, China has enacted strict regulations on money transfers for personal investment. Meanwhile, Chinese people living outside China tend to buy property and invest where they can get the best returns. On the contrary The resale market continues to improve in areas along the Skytrain (BTS) and Subway (MRT), such as in the Central Business District and Sukhumvit. This shows that there is still demand for condos and opportunities for investors who buy condos to rent out. Moreover, the slowdown in the real estate market will give investors good deals such as discount offers. which resKnight Frank Thailand reveals trends in the villa and condo market in Phuket.
Mr. Nattha Khahapana, Executive Director of Knight Frank Phuket Company Limited, said: “The high-end Phuket real estate market in 2019 was rather sluggish and there were fewer project developments in both the condo market. and villa market Because real estate developers Watch the market situation Moreover, as a result of the strengthening baht, foreigners who own luxury real estate who want to sell their property have to adapt to the changing market direction. By thinking more carefully and waiting for the right exchange rate. Even if it takes longer to sell. And some adjust by renting out their villas in the mid-end and high-end villa markets.”Although the market is slowing down, The villa market in the early and middle price ranges with sizes ranging from 2 - 3 bedrooms in the price range of 10 - 19 million baht is the most active. It is WhatsApp Number List an investment property with guaranteed rental returns. The majority of buyers are Chinese, Hong Kong, Singaporean, and Europeans residing in Asia Pacific.Mr. Nattha added that “In terms of the condo market It was found that mid-end investment condos managed by well-known hotel chains are strong and growing significantly. In terms of the condominium market for early investment, prices range from 3 - 7 million baht per unit or 90,000 - 120,000 baht per square meter. There has been higher growth this year. This market segment does not have much impact because the prices are not high. In addition, the number of tourists is increasing every year. This has resulted in many new condotel projects being launched over the next 2 - 3 years, which has reassured potential investors that Phuket is still one of the best vacation destinations. The right place for investment.”
However, many condo projects Joint ventures between Thai and Chinese investors launched in the past 2 - 3 years stimulate and influence the decision-making of Chinese buyers, accounting for 30-50% of total sales.”
“In 2020, we expect the mid- to middle-priced villa market and the mid-priced condominium market to grow approximately 10 - 15% year-on-year and 15-20% year-on-year, respectively. Moreover, next year will be a challenging year for real estate developers. To understand the market and what buyers want Whether it's location, selling price, project type and project executives Including the world economy and the domestic economy which are still important driving factors.”ults in a greater profit margin The sluggish world economy and the above factors Including the oversupply in the market, the real estate market will continue to slow in 2020 and will be a challenging year for project developers. They should adjust their marketing strategies to meet the needs of the new generation of buyers between the ages of 35 - 40 in terms of new technology. and convenience such as smart living and taking into account the infrastructure in that area This will help attract the attention of buyers. Moreover, attractive promotional prices will surely attract investors who are waiting for investment opportunities.
Mr. Nattha Khahapana, Executive Director of Knight Frank Phuket Company Limited, said: “The high-end Phuket real estate market in 2019 was rather sluggish and there were fewer project developments in both the condo market. and villa market Because real estate developers Watch the market situation Moreover, as a result of the strengthening baht, foreigners who own luxury real estate who want to sell their property have to adapt to the changing market direction. By thinking more carefully and waiting for the right exchange rate. Even if it takes longer to sell. And some adjust by renting out their villas in the mid-end and high-end villa markets.”Although the market is slowing down, The villa market in the early and middle price ranges with sizes ranging from 2 - 3 bedrooms in the price range of 10 - 19 million baht is the most active. It is WhatsApp Number List an investment property with guaranteed rental returns. The majority of buyers are Chinese, Hong Kong, Singaporean, and Europeans residing in Asia Pacific.Mr. Nattha added that “In terms of the condo market It was found that mid-end investment condos managed by well-known hotel chains are strong and growing significantly. In terms of the condominium market for early investment, prices range from 3 - 7 million baht per unit or 90,000 - 120,000 baht per square meter. There has been higher growth this year. This market segment does not have much impact because the prices are not high. In addition, the number of tourists is increasing every year. This has resulted in many new condotel projects being launched over the next 2 - 3 years, which has reassured potential investors that Phuket is still one of the best vacation destinations. The right place for investment.”
However, many condo projects Joint ventures between Thai and Chinese investors launched in the past 2 - 3 years stimulate and influence the decision-making of Chinese buyers, accounting for 30-50% of total sales.”
“In 2020, we expect the mid- to middle-priced villa market and the mid-priced condominium market to grow approximately 10 - 15% year-on-year and 15-20% year-on-year, respectively. Moreover, next year will be a challenging year for real estate developers. To understand the market and what buyers want Whether it's location, selling price, project type and project executives Including the world economy and the domestic economy which are still important driving factors.”ults in a greater profit margin The sluggish world economy and the above factors Including the oversupply in the market, the real estate market will continue to slow in 2020 and will be a challenging year for project developers. They should adjust their marketing strategies to meet the needs of the new generation of buyers between the ages of 35 - 40 in terms of new technology. and convenience such as smart living and taking into account the infrastructure in that area This will help attract the attention of buyers. Moreover, attractive promotional prices will surely attract investors who are waiting for investment opportunities.