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Demand for housing on the rise after flood

Demand for housing on the rise after flood

Housing demand in both flooded and non-flooded locations in Bangkok is returning to normal in the second quarter, according to Pruksa Real Estate Plc (PS). Pruksa, the country’s largest developer, had THB5.62 billion (US$180.4 million) in presales, THB4.67 billion (US$149.9 million) in revenue and THB633 million (US$20.32 million) in net profit in the first quarter [...]

Bangkok developers forced to aim low

Bangkok developers forced to aim low

  The floods in Bangkok made many buyers wary and this caused a number of developers to postpone the launches of their new projects until the first quarter of 2012. 14,175 housing units were launched in the first quarter of 2012 compared to 5,157 in the last quarter of 2011. Land along mass-transit lines in [...]

Marcus Burtenshaw, director of the Commercial Agency Department, Knight Frank Chartered Co. Ltd. said that at the end of 2011, the total area of occupied serviced industrial land plots in Thailand reached 100,344 rais.

Knight Frank expects a rise in land values

Knight Frank expects a rise in land values

Bangkok sees a rise in apartment occupancy

Bangkok sees a rise in apartment occupancy

There is a positive move in Bangkok’s apartment market. According to propertyshowrooms.com the occupancy rate of apartments in Bangkok has “climbed in the final quarter of 2011 despite the supply of this kind of residence increasing.” The rate is in comparison to the previous three-month period and research by CB Richard Elllis (CBRE) Thailand shows [...]

Property firms investing in flood-free locations

Property firms investing in flood-free locations

  Property firms are looking to launch new residential projects in areas of Bangkok not affected by the floods. MK Real Estate plans three projects worth a total of THB1.9 billion (US$61.8 million) on Rattanathibeth, Charan Sanitwong 3, and Vibhavadi-Rangsit roads, Narai Property plans four projects worth a total of THB5 billion (US$162 million) on [...]

Rise in construction cost for developers

Rise in construction cost for developers

Despite logistics and construction costs increasing between 8-10 per cent this year in relation with 2011, residential prices are only expected to increase within a 3-5 per cent margin as a result of the steep competition and a sluggish demand to purchase residences for the first half of the year. In a survey conducted by [...]

Developers aiming to be better prepared for future floods

Developers aiming to be better prepared for future floods

  The floods in Bangkok have made people think twice about the location they want to invest in. Flooding has become a new decision making factor when it comes to buying a house, acquiring land and approving home loans. All low-rise projects affected by the floods experienced no sales, those in areas not affected by [...]

Thailand’s real estate sector trying to remain positive

Thailand’s real estate sector trying to remain positive

  The real estate market is feeling the effect of the worst floods to hit Thailand for 50 years. A number of industrial plants were shut down, homes were destroyed and a number of projects had to be abandoned. The severity of the flooding in Thailand is not yet known, but it is likely that [...]

Property firms seek dry land

Property firms seek dry land

  Property firms are aiming to boost their end of year sales by launching projects in locations that were not affected by the floods in Bangkok, such as Pattaya, Hua Hin, Sukhumvit and Bang Na. LPN Development managing director Opas Sripayak said that the demand to buy residences at locations that did not face flooding [...]

Property and construction firms in Bangkok learn a valuable lesson

Property and construction firms in Bangkok learn a valuable lesson

  The Bangkok floods have caused developers and property firms to re-evaluate their strategies for next year. The floods affected 300,000 homes in Bangkok and the surrounding areas. Many developers believe the City Planning Department of the Bangkok Metropolitan Administration (BMA) must include proper floodways in residential areas in the new plans. Property firms have [...]