Market View of Bangkok Property



The functions in Bangkok in Might 2010 have elevated concerns in regards to the recovery we were seeing in lots of sectors of the Thai house market in the initial fraction of 2010.

However, it will require months to see what the consequence will soon be on revenue and letting quantities, prices and rents. We do not feel there would have been a unexpected a remarkable downward motion in rates or rents.

The total way to obtain expatriate normal apartments in downtown Bangkok increased 2.3% year on year. Occupancy was 88.2%. Rents rose in some places such as for example Central Lumpini but dropped in different locations.

Despite the escalation in the bangkok condo for rent , Bangkok occupancy costs and REVPAR improved nevertheless the Normal daily charge decreased in fraction 1. Global Tourist Arrivals increased by 27.1% on Q1 2010. Demonstrably Q2 figures will undoubtedly be inadequate and it remains to be seen just how long it will require for company and tourist arrivals to recover.

The majority of new condominium releases in the initial fraction were mostly little one room units.

Work market kept weak. There clearly was no upsurge in supply. Occupy became by 17,481 square metres. Rank A CBD rents dropped by 3.8% year on year.

Retail Occupancy increased to 93.4%. Rents stayed at related levels. A number of buying centres were shut in Key Bangkok for a lot of April and May.

882 Rai (349 acres) of SILPs were sold on industrial parks and estates in Q1 2010. This was a rise 891% y-o-y.

There was 175% escalation in townhouse completions on fraction on quarter but creator created single detached house completions fell by 74% fraction on quarter.

Condominium

The existing offer in downtown Bangkok reached 67,176 devices, up from 65,067 items in Q1 2010. This was a growth of 3.2% Q-o-Q and 15.8% Y-o-Y. There were 2,109 devices completed in this quarter. Another 5,220 units are planned to be accomplished by the end of 2010 that may improve the whole downtown condominium stock somewhat to 72,396 items, or by 11.3 % Y-o-Y.

In Q1 2010, the common price tag for an off-plan freehold condominium system (high-end and above) in downtown Bangkok was 156,460 THB/m2 a growth of 19.2% Q-o-Q or 3.0 Y-o-Y.

The full total number of devices occupied by homeowners or tenants lowered from 74.2 in Q4 2009 to 74.0% in that quarter.

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