In Q4 2010, over 20,000 new condominium units were launched in Bangkok, a decrease from Q3 2010. For the full year 2010, over 60,000 units were launched, an 80% increase from 2009. Suburban Bangkok remained a key target area for developers, though urban Bangkok also saw strong launches, especially in the Eastern Fringe area near the new BTS extension line. Take up rates for new projects averaged 56% for 2010, with higher rates seen near existing mass transit lines. 2011 is expected to see continued strong launches but at a more moderate pace than recent years.
New launches in Q1 2011 fell to a more sustainable level following the frenetic previous six months. Concerns of an overheating property market have been allayed as a result. The condominium market has begun the process of consolidation.
Within urban Bangkok, the Northern and Southern fringes led the way in new launches with around 15% each for the total of the whole of Bangkok. The Suburban area accounted for around 56% of the total.
Around 3,500 units were supplied in Q1 2011, a slight decrease q/q. For the past two years, quarterly additions to new supply have been remarkably stable.
The earthquake in Chiang Mai in March 2011 caused many potential buyers to pay attention to the resilience of buildings to damage from such events. More may be required to address these concerns although Bangkok is far from areas prone to serious seismic activity.
Commercial Office Development Trends in Mumbai Q2 2018 by Shubham BhuteShubham Bhute
An article covering most of the business districts and commercial real estate microarkets in Mumbai city, Mumbai Central and Mumbai suburbs.
The article covers average rent trends, top buildings by rent and leasable area, average vacancy rate trends for CBD: Nariman Point, Fort, Churchgate, Ballard Estate; SBD: Bandra - Kurla Complex, Bandra - Kalina; Micro-markets: Worli - Prabhadevi, Dadar - Lower Parel, Andheri - Kurla, Malad - Goregaon, Powai, Thane - Vashi.
The serviced apartment sector continued to show further signs of recovery from the lows of Q2 2010. Overall rental rates and occupancy were up q/q.
It appears that the lingering effects of the April/May events of 2010 which directly impacted areas seems to be dissipating rapidly with Central Lumpini and Central CBD recording very positive figures for Q1 2011.
However this is no time for complacency as the sector faces another significant infusion of supply over the course of the year that will put pressure on the gains made over the past six months.
The earthquake and tsunami in Japan may have a small short term negative influence, however in the longer term expected increased Japanese investment into Thailand will also positively affect the serviced apartment sector.
New launches in Q1 2011 fell to a more sustainable level following the frenetic previous six months. Concerns of an overheating property market have been allayed as a result. The condominium market has begun the process of consolidation.
Within urban Bangkok, the Northern and Southern fringes led the way in new launches with around 15% each for the total of the whole of Bangkok. The Suburban area accounted for around 56% of the total.
Around 3,500 units were supplied in Q1 2011, a slight decrease q/q. For the past two years, quarterly additions to new supply have been remarkably stable.
The earthquake in Chiang Mai in March 2011 caused many potential buyers to pay attention to the resilience of buildings to damage from such events. More may be required to address these concerns although Bangkok is far from areas prone to serious seismic activity.
Commercial Office Development Trends in Mumbai Q2 2018 by Shubham BhuteShubham Bhute
An article covering most of the business districts and commercial real estate microarkets in Mumbai city, Mumbai Central and Mumbai suburbs.
The article covers average rent trends, top buildings by rent and leasable area, average vacancy rate trends for CBD: Nariman Point, Fort, Churchgate, Ballard Estate; SBD: Bandra - Kurla Complex, Bandra - Kalina; Micro-markets: Worli - Prabhadevi, Dadar - Lower Parel, Andheri - Kurla, Malad - Goregaon, Powai, Thane - Vashi.
The serviced apartment sector continued to show further signs of recovery from the lows of Q2 2010. Overall rental rates and occupancy were up q/q.
It appears that the lingering effects of the April/May events of 2010 which directly impacted areas seems to be dissipating rapidly with Central Lumpini and Central CBD recording very positive figures for Q1 2011.
However this is no time for complacency as the sector faces another significant infusion of supply over the course of the year that will put pressure on the gains made over the past six months.
The earthquake and tsunami in Japan may have a small short term negative influence, however in the longer term expected increased Japanese investment into Thailand will also positively affect the serviced apartment sector.
Highlights:
The metrics for the office market in Q2 2011 remained almost the same as for Q1 2011
A more positive trajectory for the office market could be in store for the future if the political situation is perceived as being more stable.
Around 100,000 sq m of office space is set to hit the CBD market in H2 2011.
Initial strains expected from new supply in 2011 but a limited amount in the next few years will lead to hardening of occupancy and rental rates.
The ASEAN Economic Area comes closer to fruition in 2015 and the service sector can benefit from this.
Greek fiscal problems and contagion from other European countries remain a concern going forward.
Bangkok contains the most office supply for any city in the ASEAN area.
Supply growth slowing q/q for Q1 2011 with just around 14,180 sq m being completed, all being community malls.
Rentals rates escalated q/q by around 4% and take up increased by approximately 1% for the same period. Consumer confidence and spending over the past year are positively affecting the retail sector as a whole.
The trend is not only the development of new retail centres but the renovation of older buildings with outdated retail designs and mix. This flight to the top can only be of benefit to customers and the sector as a whole.
Economic Overview
The economy of Cambodia is expected to grow by 6.7% in 2013 and 7% in 2014. The forecast is based on the expected increases in agriculture, foreign direct investments in garment sector and a growing tourism industry. Regarding property sector, investments in construction grew by 123% with a total of US$1.94 billion during the first half of 2013, up from US$870 in the same period last year. There have been 571 construction companies in operations in Cambodia. The government approved $2.1 billion of construction projects in 2012, while it was only $1.2 billion in 2011. Experts are optimistic towards real estate market by the coming years, though they agree the stagnancy prior to, in time of, and post-national election.
Just over 4,700 units were supplied in Pattaya for 2010 representing a nearly 12 % increase from
2009. This was the greatest addition to supply since 1997.
New launches for 2010 amounted to just over 3,420 units. With take up and prices remaining
stable it would appear that future growth in condominium developments is running in tandem with
the growing popularity of the city as a residential resort area.
Pratumnak will be the new darling of the city as developers focus on the natural attraction of
Pratumnak hill with its position overlooking the city and access to Cosy Beach. Over 650 units
were launched in this area in the second half of 2010.
Many local developers are now firmly established in the city along with involvement from a number
of listed developers. Pattaya city is appearing on the radar screen for other Bangkok based
developers as the city turns into a world class destination and future commercial centre.
Steady decline in headline vacancy rates, increase in rents in CBD and SBD, pushed the occupiers to peripheral areas. In our opinion peripheral markets should continue to gain the occupier preference as most of the new supply is concentrated in this micro markets.
Lower grade apartments offer strong potential
Summary
• Midtown continues to dominate serviced apartment market
• Wide variations in Grade B pricing and quality
• Emergence of aparthotels beginning in Yangon
• One-bedroom units command significantly higher rental rates per square metre
Tenants seeking value for money
Summary
• Lower rental rates buoy occupancy levels
• Limited new entrants due to political situation
• Gradual reform process positive for existing businesses
• Continued move towards dedicated office space
Ekkamai is certainly similar to Thonglor in many ways but is differentiated from its neighbor by its unique living atmosphere. Still featuring large trees, the area is less commercial than Thonglor and exudes a more peaceful and serene residential vibe.
Resurgence of a city post metro rail 10062016RealtyMyths.com
The success of Delhi Metro paved way for development of Metro Rail in many other cities as well. Availability of Metro makes commuting easy and convenient from one place to other. It now symbolizes the overall infrastructural development of an urban cluster. Infrastructural development has direct impact on rise of real estate market of a location.
The objective of this report is to understand the impact of development of Metro Rail on the property market. Does it impact demand of property in a particular location and how direct is the impact?
Appropriately, we focused on online trends in various markets where Metro Rail has either become operational or is about to be. We analyzed online search trends in these markets and compared with various phases of Metro Rail development.
Highlights:
The metrics for the office market in Q2 2011 remained almost the same as for Q1 2011
A more positive trajectory for the office market could be in store for the future if the political situation is perceived as being more stable.
Around 100,000 sq m of office space is set to hit the CBD market in H2 2011.
Initial strains expected from new supply in 2011 but a limited amount in the next few years will lead to hardening of occupancy and rental rates.
The ASEAN Economic Area comes closer to fruition in 2015 and the service sector can benefit from this.
Greek fiscal problems and contagion from other European countries remain a concern going forward.
Bangkok contains the most office supply for any city in the ASEAN area.
Supply growth slowing q/q for Q1 2011 with just around 14,180 sq m being completed, all being community malls.
Rentals rates escalated q/q by around 4% and take up increased by approximately 1% for the same period. Consumer confidence and spending over the past year are positively affecting the retail sector as a whole.
The trend is not only the development of new retail centres but the renovation of older buildings with outdated retail designs and mix. This flight to the top can only be of benefit to customers and the sector as a whole.
Economic Overview
The economy of Cambodia is expected to grow by 6.7% in 2013 and 7% in 2014. The forecast is based on the expected increases in agriculture, foreign direct investments in garment sector and a growing tourism industry. Regarding property sector, investments in construction grew by 123% with a total of US$1.94 billion during the first half of 2013, up from US$870 in the same period last year. There have been 571 construction companies in operations in Cambodia. The government approved $2.1 billion of construction projects in 2012, while it was only $1.2 billion in 2011. Experts are optimistic towards real estate market by the coming years, though they agree the stagnancy prior to, in time of, and post-national election.
Just over 4,700 units were supplied in Pattaya for 2010 representing a nearly 12 % increase from
2009. This was the greatest addition to supply since 1997.
New launches for 2010 amounted to just over 3,420 units. With take up and prices remaining
stable it would appear that future growth in condominium developments is running in tandem with
the growing popularity of the city as a residential resort area.
Pratumnak will be the new darling of the city as developers focus on the natural attraction of
Pratumnak hill with its position overlooking the city and access to Cosy Beach. Over 650 units
were launched in this area in the second half of 2010.
Many local developers are now firmly established in the city along with involvement from a number
of listed developers. Pattaya city is appearing on the radar screen for other Bangkok based
developers as the city turns into a world class destination and future commercial centre.
Steady decline in headline vacancy rates, increase in rents in CBD and SBD, pushed the occupiers to peripheral areas. In our opinion peripheral markets should continue to gain the occupier preference as most of the new supply is concentrated in this micro markets.
Lower grade apartments offer strong potential
Summary
• Midtown continues to dominate serviced apartment market
• Wide variations in Grade B pricing and quality
• Emergence of aparthotels beginning in Yangon
• One-bedroom units command significantly higher rental rates per square metre
Tenants seeking value for money
Summary
• Lower rental rates buoy occupancy levels
• Limited new entrants due to political situation
• Gradual reform process positive for existing businesses
• Continued move towards dedicated office space
Ekkamai is certainly similar to Thonglor in many ways but is differentiated from its neighbor by its unique living atmosphere. Still featuring large trees, the area is less commercial than Thonglor and exudes a more peaceful and serene residential vibe.
Resurgence of a city post metro rail 10062016RealtyMyths.com
The success of Delhi Metro paved way for development of Metro Rail in many other cities as well. Availability of Metro makes commuting easy and convenient from one place to other. It now symbolizes the overall infrastructural development of an urban cluster. Infrastructural development has direct impact on rise of real estate market of a location.
The objective of this report is to understand the impact of development of Metro Rail on the property market. Does it impact demand of property in a particular location and how direct is the impact?
Appropriately, we focused on online trends in various markets where Metro Rail has either become operational or is about to be. We analyzed online search trends in these markets and compared with various phases of Metro Rail development.
Hotels showed signs of recovery after a very problematic 2010 with occupancy rates higher in Q1 2011 than the previous quarter. Rates in Q1 2011 are comparable to those registered in Q1 2010.
The trend is still for hotels, especially in Luxury segment, to drive rates down in order to compete and this looks set to continue. A "risk discount" seems to be being applied in the case of hotels in areas deemed prone to further political strife.
Middle Eastern, Indian and Chinese visitors continue to be a growing presence in the Bangkok tourism industry especially during the low season. However traditional tourist markets, the mainstay of the Upper/Luxury segment (ULS), have begun to return to the city. The effect of the reduction in long term bookings after events last April and May appears to be abating.
Future supply in 2011 and 2012 will further test hotels’ ability to fill their rooms. Only continued strong growth in tourism can mitigate this situation. There will be no respite for the industry for some time to come.
2010 was a difficult year for the hotel industry in Bangkok and 2011 promises more of the same for the Upper and Luxury segment. Find out more in this report.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Avrupa Konutlari Yenimahalle - Listing TurkeyListing Turkey
Welcome to Avrupa Konutları Yenimahalle, where luxury living meets unparalleled convenience in the heart of Istanbul. Developed by Artaş Holding, one of Turkey’s leading construction companies, this prestigious residential project offers a contemporary lifestyle experience like no other.
https://listingturkey.com/property/avrupa-konutlari-yenimahalle/
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Oeiras Tech City, Developed by RE Capital and REIG, Will Become Lisbon's Futu...Newman George Leech
Oeiras Tech City, a historic development in the Oeiras municipality of Lisbon, is acquired by RE Capital and REIG. It is located on a 93,000-square-meter plot of land and combines co-living, business, and residential areas. It highlights ESG principles and is close to Tagus Park, which improves the urban landscape of Lisbon.
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
1. year end 2010 | Condominium
THAIlANd
Bangkok Condominium
market rePort
Bangkok Condominium Market
ExECuTIvE SummARy
new launches in Q4 2010 continued to surge on the back of continued confidence in the residential
market and affordable units being offered by developers. overall 2010 represented a landmark
year for the condominium market with over 60,000 units being launched in total.
2011 is set for another strong year for condominium launches but is then expected to moderate
and a supply bubble is likely to be avoided as developers and authorities pay close attention to the
market and its constraints. this year will represent a move from boom to consolidation.
mARKET INdICAToRS
developers are dividing their attention to both urban and suburban Bangkok, with a similar number
2009 - 2010
being launched in both areas. Suburban Bangkok still remains firmly on the radar with listed
developers targeting the low to mid end segment of the market, however non-listed developers are
Supply
fighting back in Q4 2010 with many players launching smaller scale projects thus providing healthy
lAuNCHES competition in the market.
pRICES issues regarding transport access to mass transit stations mean that the positive effects of these
lines is not being fully realized and could be a problem for future new lines.
TAKE-up
www.colliers.co.th
2. Bangkok Condominium market rePort | Q4 2010
NEwly lAuNCHEd CoNdomINIum uNITS duRINg THE yEAR 2009 – Q4 2010 by QuARTER
Source : Colliers international thailand research
newly launched units in the fourth quarter of 2010 slightly decreased but were resumed in Q3 and then continued forwards for Q4 2010. the
from Q3 2010 by 2,500 units. approximately 20,000 units were launched total number of newly launched units in 2010 was approximately 61,000,
in Q4 2010. many launches were put on hold due to the protests in Q2 a nearly 80% increase from 2009.
COLLIERS INTERNATIONAL | P. 2
3. Bangkok Condominium market rePort | Q4 2010
ZoNINg
HISToRICAl Supply by yEAR
CumulATIvE Supply IN bANgKoK
COLLIERS INTERNATIONAL | P. 3
4. Bangkok Condominium market rePort | Q4 2010
• CITY AREA • OUTER CITY AREA
the area covers four adjacent but competing sub-markets: the Sukhumvit the area covers two parts of Bangkok:
section comprising Sukhumvit road between Soi 1 and Soi 55 to the
north and Soi 2 and Soi 38 to the south; the Central Lumpini section o Outer City (East): this section starts from the extension of the BtS
including Phloen Chit road, rama i road, Soi Langsuan, Soi Sarasin, route at on nut Station to the Bangkok boundary to the east.
Chitlom road ratchadamri road, Witthayu road and rachaprasong o Outer City (West): this section starts from the extension of the BtS
road; the Silom / Sathorn section; and the riverside section fronting the route at taksin Station to Bang Wa station which includes the area from
Chaophraya river along Charoenkrung road and Charoennakorn road, krung thonburi road to ratchaphruek road near Petchakasem
where several five-star hotels are located. the City area is convenient intersection.
for businessmen, expatriates and tourists, because of its proximity to
many office buildings, retailing and local attractions. • SUBURBAN BANGKOK
these are the environs outside the areas already mentioned. expansion
• CITY FRINGE AREA of the mass transit system is the main determinant for increasing future
this area covers three parts of Bangkok: supply in a particular area. the expansion from on - nut to Samut
Prakarn is scheduled to be completed in 2011. the expansion of the BtS
o Northern Fringe: this section covers the BtS route starting from will benefit directly the surrounding condominiums, as it will considerably
ratchathewi Station to mo Chit Station to the north and the mrt route reduce transportation costs and time. this will encourage the development
starting from Petchaburi station to Bangsue station to the north. of new condominiums in this area. Suburban Bangkok represents the
o Southern Fringe: this section covers narathiwad ratchanakarin road, biggest area and for the purposes of this report includes Bangkok city old
Chan road, Sathupradit road, Charoenkrung road and rama iii road town (koh rattanakosin area and boundary area). this location has
along the Chaophraya river. comprehensive town planning controls restricting building height, so
o Eastern Fringe: this section covers the BtS route starting from thong there are no condominium projects in the area.
Lor Station to on nut Station to the east, rama iV road and Petchaburi
road,
this area covers locations with their own local infrastructure and
convenient transportation but require commuting to have access to the
central business and entertainment areas.
NEwly lAuNCHEd CoNdomINIum uNITS IN Q4 2010 by loCATIoN
Source : Colliers international thailand research
in Q4 2010 the suburban Bangkok area slightly trumped urban Bangkok LPn development Plc. launched the “Lumpini Park riverside rama 3”, a
with the higher number of units launched. new riverside condominium project on rama 3 road in the Southern
Fringe area with a total of 2,405 units and this was the largest project in
Within urban Bangkok, the eastern Fringe area has shown the highest this quarter and for the year as a whole.
numbers with approximately 3,500 units, a nearly 31% increase from Q3.
the northern Fringe came very close second.
COLLIERS INTERNATIONAL | P. 4
5. Bangkok Condominium market rePort | Q4 2010
A COmpARISON OF NEWlY lAUNChEd UNITS BY lISTEd COmpANIES ANd NON lISTEd COmpANIES dURING Q1 2009 – Q4 2010
Source : Colliers international thailand research
remark : Listed companies include subsidiaries
in Q4 of 2010 listed companies still served up the largest share of newly this quarter is the highest of the past two years. many are smaller in
launched units, although the number of newly launched units by non scope than those put on the market by the listed developers but lesser
listed companies increased from Q3 by approximately 1,300 units known developers are once again dipping their toes into the condominium
meanwhile newly launched units by listed companies decreased by pond.
nearly 2,400 units. the newly launched units by non listed companies
NEwly lAuNCHEd CoNdomINIum uNITS IN CITy AREA, Q1 2009 – Q4 2010
Source : Colliers international thailand research
more than 2,500 units were launched in the City area for Q3, but in the protests which began in February 2010 but was ratcheted up in april
last quarter of 2010 just 400 units were launched. the limited number and may. this delayed launches to Q3 2010.
of launches in the first half of the year was a direct consequence of the
COLLIERS INTERNATIONAL | P. 5
6. Bangkok Condominium market rePort | Q4 2010
NEWlY lAUNChEd CONdOmINIUm UNITS IN NORThERN FRINGE AREA, Q1 2009 – Q4 2010
Source : Colliers international thailand research
newly launched condominium units in the northern Fringe area 3,300 units in Q4.
dramatically increased to more than 4,300 units in Q3 and approximately
HISToRICAl Supply
SUpplY OF CONdOmINIUm UNITS 1994 - 2010
Source : department of Land, Colliers international thailand research
remark : the number of units does not include projects from the national Housing authority
only approximately 6,000 new condominium units were completed and 2009 of nearly 15%. this decline is a reflection of the onset of the global
registered at the department of Land in Q4 2010 and the total number in Financial Crisis which led to developers putting plans on hold and this is
2010 was approximately 24,700 units, which represented a fall from now affecting the figures for new supply.
COLLIERS INTERNATIONAL | P. 6
7. Bangkok Condominium market rePort | Q4 2010
ToTAl HISToRICAl Supply by loCATIoN To Q4 2010
Source : department of Land, Colliers international thailand research
around 66% of total condominium units are located in the suburban proximity to the centre, mass transit connections and relatively lower
Bangkok area with a total of more than 190,000 units. Within the urban land prices compared to the City area.
Bangkok area, the northern Fringe contains the most units due to its
COLLIERS INTERNATIONAL | P. 7
8. Bangkok Condominium market rePort | Q4 2010
AddITIoNAl Supply pER QuARTER | CITy AREA, Q1 2009 – Q4 2010
Source : Colliers international thailand research
approximately 770 units were added in Q4 2010 and so total supply in scheduled to be completed in 2011.
this area amounted to around 23,000 units. roughly 6,600 units are
AddITIONAl SUpplY pER QUARTER | NORThERN FRINGE AREA, Q1 2009 – Q4 2010
Source : Colliers international thailand research
approximately 2,600 units were added in Q4 2010, a significant addition ratchadapisek, ari and Sutthisan road. the northern Fringe contains a
from just over 500 in Q3. this area still remains the main target for significant number of BtS and mrt stations, the key public transportation
condominium projects in the near future, especially Phahonyothin, arteries in Bangkok.
COLLIERS INTERNATIONAL | P. 8
9. Bangkok Condominium market rePort | Q4 2010
FUTURE SUpplY – URBAN BANGKOK
CUmUlATIvE FUTURE SUpplY SChEdUlEd TO BE COmplETEd dURING ThE YEAR 2011 – 2013
BY lOCATION IN URBAN BANGKOK. (AS OF Q4 2010)
Source : Colliers international thailand research
remark : Supply does not included unit in Suburban Bangkok
approximately 25,000 units are scheduled to be completed in 2011. the followed by the City area with a total number of around 6,700 units. it is
northern Fringe area continues to be the main player in urban Bangkok expected that the northern Fringe will continue to dominate supply for
with approximately 10,700 units scheduled to be completed in 2011 and the early part of the decade in urban Bangkok.
COLLIERS INTERNATIONAL | P. 9
10. Bangkok Condominium market rePort | Q4 2010
TAKE up
SAlES pROpORTION OF NEWlY lAUNChEd UNITS IN Q4 2010 BY lOCATION
Source : Colliers international thailand research
the average take up rate of newly launched condominiums in 2010 was nut-Bearing extension line spurred take up in the outer City- east area.
around 56% representing a decrease from 61% in 2009. Considering the
number of units launched for 2010 this number is still a robust one. in the fourth quarter the Bank of thailand introduced measures to control
the condominium market, with a loan-to-value of 90 percent of new
the occupancy rate in the Southern Fringe area was the highest followed condominium units below 10 million baht as of January 1 of 2011. this
by the City area and outer City - east area. the positive figures for the new policy had a positive effect on the market in Q4 of 2010, because
Southern Fringe are the result of a popular newly launched project from buyers were more likely to make a decision to buy by the end of the
LPn development in the Southern Fringe area. the progress of the on year.
COLLIERS INTERNATIONAL | P. 10
11. Bangkok Condominium market rePort | Q4 2010
AvERAGE SAlES pROpORTION OF NEWlY lAUNChEd UNITS IN 2010 BY lOCATION
Source : Colliers international thailand research
the average take up rate for newly launched condominium projects in northern Fringe. many BtS / mrt stations are located in this area and
Bangkok in the year 2010 was approximately 56%. the take up rate in the selling prices are still lower than other areas along mass transit line,
the northern Fringe area is the highest followed by the City area and such as Sukhumvit, Silom, rajadamri and Phayathai road.
suburban Bangkok area. Various factors explain the high numbers for the
lAuNCHES wITH HIgH TAKE up RATES IN Q4 2010
onyx Phahonyothin by Sansiri Plc. showed the highest take up rate of baht per sq m. unit area starts from 25 sq m for a studio unit up to 67.5
almost 100% of its 620 units with a selling price of more than 90,000 sq m for 2 bedroom units. the project is located on Phahonyothin road
approximately 550 meters from BtS Saphan kwai Station.
regent Home 13 Sukhumvit 93 by regent green Power Co., Ltd. is
located in Sukhumvit soi 93 with a total of 270 units in the outer City –
east area and had one of the highest take up rates. the building contained
only studio units at just 31 sq m with a selling price of lower than
1,000,000 baht per unit.
COLLIERS INTERNATIONAL | P. 11
12. Bangkok Condominium market rePort | Q4 2010
TAKE up RATE IN pRoxImITy To ExISTINg mASS TRANSIT lINES Q4 2010
Source : Colliers international thailand research
the take up rate of projects 501 – 1,000 meters from BtS / mrt was magnet for buyers, the selling price is also higher than other areas, so
highest at around 60% and similar to the area more than a kilometre many buyers are more interested location 501 – 1,000 meters from a
from the BtS/mrt. While access to mass transit remains a strong mass transit station which represents more affordable units.
THE AvERAgE TAKES up IN pRoxImITy To ExISTINg mASS TRANSIT STATIoNS IN THE yEAR 2010
Source : Colliers international thailand research
the take up rate of condominium projects within 200 meters of mass of the way sois and poor feeder systems but with selling prices still high
transit stations came close to 72%, a high figure considering the relatively or similar to projects located on the main road or nearer to BtS / mrt
higher prices. However projects located 201 – 500 meters from BtS / lines. Projects located further than 1,000 meters came second at nearly
mrt lines showed the lowest rate of around 41%. this figure is due to 65% due to the lower selling price of projects.
many projects being located away from the main road, sometimes in out
COLLIERS INTERNATIONAL | P. 12
13. Bangkok Condominium market rePort | Q4 2010
INITIAl lAuNCH pRICES
AvERAGE SEllING pRICES OF NEWlY lAUNChEd pROjECTS Q1 – Q4 2010
Source : Colliers international thailand research
the average selling price in the City area is still highest at nearly 110,000 new BtS extension line and many projects in this area are high-end
Baht per sq m, and the average selling price in Q2 and Q4 was higher ones, therefore the average selling price is higher than other areas.
than 100,000 Baht per sq m. the outer City –West is the area along the
lAUNCh pRICES : mASS TRANSIT EFFECT
SEllING pRICES OF NEWlY lAUNChEd pROjECTS BY pROxImITY TO mASS TRANSIT lINES (BTS ANd mRT), Q1 - Q4 2010
Source : Colliers international thailand research
the average selling price in the City area is still highest at nearly 110,000 new BtS extension line and many projects in this area are high-end
Baht per sq m, and the average selling price in Q2 and Q4 was higher ones, therefore the average selling price is higher than other areas.
than 100,000 Baht per sq m. the outer City –West is the area along the
COLLIERS INTERNATIONAL | P. 13
14. Bangkok Condominium market rePort | Q4 2010
mASS TRANSIT – THE dRAw ANd THE dRAwbACK
in a survey in the Journal of the eastern asia Society for transportation
Studies, Vol.8, 2009 called “influences of Paratransit as a Feeder of
mass transit System in developing Countries Based on Commuter
Satisfaction”, commuters to on nut BtS and Huay khwang mrt were
asked various questions regarding how they access the stations. Fifty
five percent of those living within one kilometre of a station walk to the
station while 30% take motorbike taxi and 10% take a bus or songtaew.
Within 200 metres a walk does not offer much discomfort in regards to
the heat, however after this distance a walk becomes more onerous and
the appeal of a motorbike becomes much stronger. in the same survey
users of this mode of transport were dissatisfied with the cost as well as
safety and weather protection. this likely accounts for the reduced effect
on pricing after 200 metres from the mass transit stations. in general
terms the feeder systems to the mass transit stations are considered
poor with a low satisfaction in the survey with the waiting times, poor
scheduling, en-route stops and the comfort of songtaews. this means
that little pricing premium results from locations further than 200 meters
and therefore mass transit lines are not making the most of their
infrastructure.
TRENdS
IN ThE YEAR 2010 lISTEd dEvElOpERS ARE FOCUSING
moRE IN THE SubuRbAN bANgKoK AREA ANd lowER -
mId RANgE mARKET
in 2009 listed developers and their subsidiaries accounted for around
18,000 condominium units launched in Bangkok but in 2010 more than
41,000 units were launched representing an increase of 122%. Just over
half of the total units of listed developers were located in suburban
Bangkok where the selling price is lower than 3 million baht per unit.
this was the result of listed companies setting up new brands to focus
on the growth in the lower – mid range market and most of these are
located in the suburban Bangkok area due to lower land prices. this
situation may affect non listed companies penetrating the market in the
near future, as projects from a listed company can be more attractive to
buyers with usually better financing options and brand strength. However
smaller developers are fighting back with smaller scale projects.
NEW pOlICIES FROm BANK OF ThAIlANd TO CONTROl ThE CONdOmINIUm mARKET
the Bank of thailand introduced measures to control the condominium this will also affect small and medium sized developers, due to the
market in the last quarter of 2010, with a 90 percent loan-to-value limit reduction in the purchasing power of buyers. the gradual increase in
on new condominium units below 10 million baht as of January 1 of interest rates is also likely to act as a dampening on condominium
2011. launches going forward.
the Bank of thailand’s policies will affect to the decision of the buyers
in 2011, as they need to have at least 10% of total value whereas in 2010
some commercial banks provided 100% loans with zero down payment,
COLLIERS INTERNATIONAL | P. 14
15. Bangkok Condominium market rePort | Q4 2010
FINANCING
hOUSING lOANS FOR pERSONAl CONSUmpTION ExTENdEd BY FINANCIAl INSTITUTIONS
Source : Bank of thailand and Colliers international thailand research
note: excludes negligible amounts of financing from other sources. Percentage change is comparable quarter to quarter.
the growth rate of housing loans increased more than 3% in Q3 2009 housing loans in that period compared to other periods. the amount of
– Q1 2010 because of the government’s incentives attracted buyers to loans continues to grow but at a more sustained pace.
purchase and transfer by the second quarter of 2010. this boosted
THE luxuRy CoNdomINIum mARKET
luxuRy CoNdomINIum uNITS lAuNCHEd duRINg Q1 2009 – Q4 2010
Source : Colliers international thailand research
Sansiri Plc launched a new project with approximately 140 units located dropped from Q3 by around 80%. this market segment continues to be
on Sukhumvit road but newly launched luxury condominium units a bit player in the overall condominium market.
COLLIERS INTERNATIONAL | P. 15
16. Bangkok Condominium market rePort | Q4 2010
FORECAST
Strong concerns about the booming condominium market continue in although there has been no tangible progress on some lines, many
the midst of more planned launches of condominium developments over property developers are already scrambling to occupy land along planned
the coming year. most developers do not launch on a whim but rather lines and are scheduled to develop projects or starting progress along
study the demographics and income levels in regards to future demand the more advanced Purple Line (Bang Sue – Bang Yai) and the green
for their products. as such it appears that target markets remain in Line (Wongwian Yai – Bang Wa). the issue confronting developers is
various income categories, especially the lower levels that have only how to make projects relatively close to mass transit lines more attractive
recently been tapped in earnest. the city continues to grow along with to buyers using improved ways for residents to access stations from
average incomes and for the foreseeable future a market will exist for their homes. regular, comfortable and affordable paratransit (from home
particular products. take up will slacken as buyers take their time in to mass transit station) would be the best way for this to happen.
choosing a place to live. the days of one day sell outs are behind us developers should consider retail/transport hubs on station locations
which points to a more mature market for lower end condominium units. connected by efficient bus feeder systems or even a light monorail as
the frenetic pace of launches will lessen over time but the condominium has been suggested by one developer.
success story has a long way to go.
mass transit remains a key factor to attract the developers and buyers.
the ministry of transportation has announced a master plan of BtS
extension lines covering the Bangkok metropolitan and vicinity area.
COLLIERS INTERNATIONAL | P. 16
17. Bangkok Condominium market rePort | Q4 2010
CollIERS INTERNATIoNAl THAIlANd
mANAgEmENT TEAm 480 offices in 61 countries on
6 continents
reSidentiaL SaLeS & LeaSing united States: 135 • the third largest commercial
nuttaya Junhasavasdikul | manager real estate services company in
Canada: 39
the world
Latin america: 17
ProJeCt SaLeS & marketing • the second most recognised
asia Pacific: 194
Wasan rattanakijjanukul | manager commercial real estate brand
emea: 95 globally
adViSorY SerViCeS • uS$2 billion in annual revenue
napatr tienchutima | manager • over 2 billion square feet under
management
oFFiCe & induStriaL SerViCeS • over 15,000 professionals
narumon rodsiravoraphat | Senior manager
retaiL SerViCeS
asharawan Wachananont | Senior manager
reaL eState management SerViCeS CoLLierS internationaL thaiLand:
Bandid Chayintu | associate director
Bangkok office
17/F Ploenchit Center,
adViSorY SerViCeS | HoSPitaLitY 2 Sukhumvit road, klongtoey,
Jean marc garret | director Bangkok 10110 thailand
TEl +662 656 7000
inVeStment SerViCeS FAx +662 656 7111
nukarn Suwatikul | Senior manager EmAIl info.th@colliers.com
Pattaya office
reSearCH
519/4-5, Pattaya Second road (opposite Central Festival
antony Picon | Senior manager Pattaya Beach), nongprue, Banglamung, Chonburi 20150
Surachet kongcheep | manager TEl +6638 427 771
FAx +6638 427 772
VaLuation & adViSorY SerViCeS EmAIl info.pattaya@colliers.com
nicholas Brown | associate director
Phachsanun Phormthananunta | manager
PattaYa oFFiCe
mark Bowling | Sales manager
Supannee Starojitski | Business development manager
RESEARChER: RESEARChER:
thailand thailand
antony Picon Surachet kongcheep
Senior manager | research manager | research
EmAIl antony.picon@colliers.com EmAIl surachet.kongcheep@colliers.com
this report and other research materials may be found on our website at www.colliers.co.th. Questions related to
information herein should be directed to the research department at the number indicated above. this document has
been prepared by Colliers international for advertising and general information only. Colliers international makes no
guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but
not limited to, warranties of content, accuracy and reliability. any interested party should undertake their own
inquiries as to the accuracy of the information. Colliers international excludes unequivocally all inferred or implied
terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising
there from. Colliers international is a worldwide affiliation of independently owned and operated companies.
accelerating success.
www.colliers.co.th