The Bangkok serviced apartment market struggled in 2010, with occupancy rates plunging during political protests in April and May. While the market recovered in the third quarter, occupancy remained low in the fourth quarter and this weakness may continue into 2011. The Central Lumpini area was hit hardest, with significant drops in both occupancy and rental rates, and further protests could negatively impact the area's image as an upper market location. Overall supply increased by around 550 units in 2010 but remained below 2009 levels due to construction delays caused by the protests. The Late Sukhumvit area continued to show the highest occupancy rates of all areas.
House of Modern Living - Serviced ApartmentsMike_Stapley
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House of Modern Living - Serviced ApartmentsMike_Stapley
Want to know how we help the business traveller and relocatee with temporary serviced apartment accommodation in London and other key cities worldwide? Here's how!
Business Apartments offers fully-furnished Serviced Apartments cum Guest House with all modern amenities to take care of short and long term stay requirements in Mumbai.
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.
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.
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.
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.
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.
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.
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
As maintained by the steady demand for commercial and residential buildings, Chamkarmon district experienced 10% of land price average increase y-o-y from the fourth quarter of 2013 to that of 2014.
Ho Chi Minh City Upscale Hotel Market - Year end review and forecast 2015Alternaty
Looking back at 2014, it was expected to be a particularly strong year for the five-star market in HCMC, with the first quarter gave several positive signs of strong performance throughout the whole year. However, the political tension between Vietnam and China in Q1/Q2 negatively impacted guest arrivals with several cancellations from groups and MICE business that was felt at different levels from various properties depending on the main target markets. That short period of instability affected the trading performance for the whole year by slightly reducing occupancy level in what could have been a remarkable year for the majority of the HCMC properties.
The market occupancy in 2015 is expected to be challenged by the large amount of new openings in the luxury segment. However, the flow of new rooms should be balanced by the closing down of some properties due to renovations expected to take place in the coming months with some properties anticipated to close down entire floors or businesses. This group includes Park Hyatt, Sheraton, Continental and the New World Hotel, along with the ongoing work on the Caravelle rooms. No committed schedule renovations have been announced and some properties may delay the work to the following year.
HCMC may have passed a period of economic tension due to the troubled relationship with China, but we are still extremely positive on the long term prospects of Vietnam’s economic capital hotel industry. Visitor arrivals have been steadily increasing over the past years. International tourists are enjoying a newly developed and charming destination with plenty of coastline recreational areas, and business travelers are capitalizing on the country’s continuously rising economy.
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.
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.
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.
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.
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.
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.
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
As maintained by the steady demand for commercial and residential buildings, Chamkarmon district experienced 10% of land price average increase y-o-y from the fourth quarter of 2013 to that of 2014.
Ho Chi Minh City Upscale Hotel Market - Year end review and forecast 2015Alternaty
Looking back at 2014, it was expected to be a particularly strong year for the five-star market in HCMC, with the first quarter gave several positive signs of strong performance throughout the whole year. However, the political tension between Vietnam and China in Q1/Q2 negatively impacted guest arrivals with several cancellations from groups and MICE business that was felt at different levels from various properties depending on the main target markets. That short period of instability affected the trading performance for the whole year by slightly reducing occupancy level in what could have been a remarkable year for the majority of the HCMC properties.
The market occupancy in 2015 is expected to be challenged by the large amount of new openings in the luxury segment. However, the flow of new rooms should be balanced by the closing down of some properties due to renovations expected to take place in the coming months with some properties anticipated to close down entire floors or businesses. This group includes Park Hyatt, Sheraton, Continental and the New World Hotel, along with the ongoing work on the Caravelle rooms. No committed schedule renovations have been announced and some properties may delay the work to the following year.
HCMC may have passed a period of economic tension due to the troubled relationship with China, but we are still extremely positive on the long term prospects of Vietnam’s economic capital hotel industry. Visitor arrivals have been steadily increasing over the past years. International tourists are enjoying a newly developed and charming destination with plenty of coastline recreational areas, and business travelers are capitalizing on the country’s continuously rising economy.
Similar to Bangkok Serviced Apartment Market Report Q4 2010 (20)
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.
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.
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.
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.
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.
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/
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
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
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/
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
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.
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.
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.
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
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.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
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1. year end 2010 | SerVICed apartmemt
thailand
Bangkok Serviced apartment
market report
Bangkok Serviced Apartment Market
executive Summary
the year 2010 was a difficult one for the serviced apartment market in Bangkok as occupancy
rates plunged during the protests of april and may. although the market picked up in Q3 2010 the
figures for Q4 show that occupancy remains moribund and there is now a danger that this will be
carried on into 2011.
central Lumpini fared worst over the year with significant drops in both occupancy and rental
rates. the protests may have dented the area’s image as an upper market location and continuing
market indicatOrS protests will likely further impact the area negatively.
2009 - 2010
Supply was down from the 2009 figure but the market is struggling to absorb the surge in supply
for 2009; and 2011 is expected to herald a significant amount of new units thus exacerbating
Supply
current problems.
rentalS
the silver lining comes in the form of the Late Sukhumvit area which continues to show the
Occupancy highest occupancy of all areas. this area could be the main secondary location for serviced
apartments outside of the central cBd or even primary area if protests ramp up and violence
ensues.
Serviced apartments continue to compete head on with hotels for the shorter term stay market.
in such challenging times the market will need to look for new niche products such as in medical
tourism or hybrid residence/offices. However the strong branding and quality of serviced
apartments in Bangkok will be a major pillar of strength in these difficult times.
www.colliers.co.th
2. Bangkok SerVICed apartment market report | Q4 2010
GradinG
no recognized standard for rating serviced apartments exists in thailand Grade B
and therefore colliers international thailand has classified them based Usually located in the centre but also in less prime locations. Furnished
on various criteria, in which a summary is given below. to a high standard but usually offers recreational facilities and a variety
of services similar to an Upper or mid Scale hotel. managed by a lower-
Grade a end international or domestic operator.
Located in prime locations and luxury residential areas. Furnished to an Grade c
exceptionally high standard. offering recreational facilities and amenities Located in secondary locations. Furnished to a comfortable, but not
similar to a Luxury or Upper Scale hotel. managed by a top international luxurious, standard. Fewer provisions of facilities and amenities, similar
branded operator or comparable local brand. to that of a mid-scale or economy hotel.
ZOninG • Late Sukhumvit Area
this is the section of Sukhumvit road between Soi 37 and Soi 77 to the
the serviced apartment area can be divided into five areas or pockets of
north and Soi 24 and Soi 50 to the south.
concentration:
• Southern Fringe Area
• Central CBD
this is the area that stretches along the bank of the chao phraya river
this is the area that encompasses Silom, Sathorn, Surawong, Si phraya
on charoenkrung road. narathiwas ratchanakarin road and rama iii
and rama 4 road as well as other sois in between, such as Soi Saladaeng,
road are located in this area.
Soi convent, Soi pipat.
• Other Areas
• Central Lumpini Area
most of the remaining grade B & c serviced apartments are scattered
the central Lumpini covers the areas along rama i, rajadamri, Wireless,
across the city including phayathai, phetchaburi, ratchadapisek,
ploenchit, Langsuan, phayathai and phetchaburi roads, as well as other
mitmaitri, Srinakarin Bangna and ramkhamhaeng road.
sois in between, such as Soi Langsuan and Soi ruamrudee.
• Early Sukhumvit Area
this is the section of Sukhumvit road between Soi 1 and Soi 35 to the
north and Soi 2 and Soi 24 to the south.
COLLIERS INTERNATIONAL | P. 2
3. Bangkok SerVICed apartment market report | Q4 2010
hiStOrical Supply
hiStOrical Supply By year
Source : colliers international thailand research
For the first half of 2010 only around 20 serviced apartment units were areas. total supply of serviced apartment units as of 2010 was
added, and then around 180 units were supplied in Q3 2010, but approximately 16,300 in around 125 apartments.
approximately 340 units were added in Q4 of 2010. Supply was in four
locations, central Lumpini, early Sukhumvit, Late Sukhumvit and other
additiOnal Supply in 2010 By quarter
Source : colliers international thailand research
additional supply in Q4 was approximately 340 units and total new this year to next year, due to the halting of construction during the april
supply in 2010 was around 550 units, lower than the forecast because and may political protests in the centre.
some serviced apartment projects were delayed from the last quarter of
COLLIERS INTERNATIONAL | P. 3
4. Bangkok SerVICed apartment market report | Q4 2010
Supply By lOcatiOn
Source : colliers international thailand research
Since 1995 and up until now, early Sukhumvit area has been by far the areas have also grown but on a lower trajectory. in the past few years
most popular for serviced apartments. although no mass transit system the Late Sukhumvit area has become a new prime location especially
existed until the end of 1999, the appeal to western and Japanese due to the rise of thong Lor as a fashionable area to reside.
expatriates meant that this area was the bulwark of the sector. other
percentaGe Of Supply By lOcatiOn
Source : colliers international thailand research
overall Sukhumvit road and its vibrant sois contain over half of all entertainment, retail and office facilities creates a strong lure for people
serviced apartment units in Bangkok with nearly 40% of total supply to stay in Sukhumvit.
being located in early Sukhumvit area. the mix of good transport links,
COLLIERS INTERNATIONAL | P. 4
5. Bangkok SerVICed apartment market report | Q4 2010
percentaGe Of Supply By Grade
Source: colliers international thailand research
nearly half of total supply is in the grade B category in Bangkok while just over a third is grade a.
Supply By lOcatiOn and Grade
Source: colliers international thailand research
the distribution of serviced apartments differs according to location Japanese community there. early Sukhumvit is the king of grade B
based on the particular profile of each area. central Lumpini contains apartments as it is a more unpretentious, relaxed location which also
many large embassies and is therefore seen as being the most prestigious explains the location of more Upper Scale rather than Luxury hotels. the
location to live and as such contains more grade a units. Late Sukhumvit ‘other’ areas contain more grade c products due to the distance from
also contains more grade a units due to the location containing a number the centre.
of luxury branded apartments in thong Lor road catering to the large
COLLIERS INTERNATIONAL | P. 5
6. Bangkok SerVICed apartment market report | Q4 2010
expected future Supply in 2011
Source: colliers international thailand research
more than 1,900 units are scheduled to be completed from 2011. the approximately 525 units in Late Sukhumvit area. the main driver is not
serviced apartment is not undergoing a boom like the past due to the only the popularity of this road as a residential destination but also that
highly competitive market in some locations and this has led to the the relative price of land is lower than the more central locations and is
postponement of new projects, especially along Sukhumvit road. also convenient for the BtS line.
Sukhumvit road will contain the majority of new supply in the next years.
more than 620 units will be located in early Sukhumvit area and
hiStOrical Occupancy rate
Occupancy fOr BanGkOk Serviced apartmentS On BOth extended Stay and cOrpOrate hOuSinG SuB-SetS
Source: colliers international thailand research
average occupancy rates in Q2 tumbled due to the april and may the case of grade a apartments. the holiday season should be a strong
protests. this is mainly a result of short term guests cancelling but also period for the serviced apartment market due to the number of tourists.
many longer term stays, especially Japanese, leaving thailand to escape However this has not been translated into increased occupancy. Higher
from the perceived danger. While occupancy rates soared back in Q3 spending tourists are choosing to avoid the city due to the myriad of
2010 they have since lost their momentum and have even fallen back in problems the city has in attracting this crucial demand segment.
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7. Bangkok SerVICed apartment market report | Q4 2010
Occupancy rateS By lOcatiOn
Source: colliers international thailand research
in all locations occupancy fell during Q2 2010 but were more pronounced kudos of staying in this area. However the situation is bright for the Late
in some areas than others depending on the proximity to the protest Sukhumvit area which can boast the best occupancy rates throughout
area. therefore central cBd and central Lumpini suffered the most. in the year. the area is becoming increasingly fashionable, especially
both these areas occupancy has since picked up especially in the central thong Lor with easy access to the BtS and now the airport Link; but far
cBd but central Lumpini still remains quite depressed and is far behind away from perceived trouble
the numbers recorded in Q1 2010. the protests may have dented the
demand driverS
numBer Of expatriateS in BanGkOk, q4 2010
Source : office of Foreign Workers administration (Work permit), department of employment of
the ministry of Labor and colliers international thailand research
remark : above information does not include Lao, Burmese and cambodian citizens
e = estimated by colliers international thailand research
expatriates represent the primary source of demand for the serviced more than 10,000, due to the political problems in the centre of Bangkok.
apartment medium and long stay market. the global economic crisis However in Q3 – Q4 2010 there was an increase but the total number is
affected expat numbers in Bangkok significantly in 2009, reducing the still similar to 2009 and below 2008 prior to the global Financial crisis
number by around 15,000. the number of expatriates in Bangkok in Q1 (gFc).
2010 decreased very slightly from last year, but in Q2 2010 dropped
COLLIERS INTERNATIONAL | P. 7
8. Bangkok SerVICed apartment market report | Q4 2010
new wOrk permitS iSSued in BanGkOk durinG 2004 – 2010 By quarter
Source : office of Foreign Workers administration (Work permit), department of employment of
the ministry of Labor and colliers international thailand research
remark : the information above does not include Laos, Burmese and cambodians
e = estimated by colliers international thailand research
after the protests in Q2 work permits issued picked up in Q3 - Q4 of with global economic recovery.
2010 which indicates a more positive trend going forward combined
prOpOrtiOn Of expatriateS in BanGkOk, q4 2010
Source : office of Foreign Workers administration (Work permit), department of employment of the ministry of Labour
and colliers international thailand research
the Japanese still represent the largest group of expatriates in Bangkok lower pay bracket and the rental rates of serviced apartments would be
and are also the main target group for serviced apartments with most of beyond reach.
them staying along Sukhumvit road. other nationalities are often in the
COLLIERS INTERNATIONAL | P. 8
9. Bangkok SerVICed apartment market report | Q4 2010
demand frOm extended Stay and cOrpOrate hOuSinG SuB-SetS
the serviced apartment market is divided into two distinct sub-sets in do not use this service. instead they focus on more traditional forms
terms of demand for units; corporate housing and extended stay. such as direct marketing, internet websites and personal visits due to the
corporate housing is normally three months or over and is provided for less commoditized and more individual relationship between the long
expats as a package when posted for a new assignment. throughout the staying guest and the apartment. on the other hand in thailand, a greater
world in general this is the predominant form of demand as this type of number of serviced apartments use the gdS systems which would
accommodation is not usually booked using the global distribution indicate greater reliance on the extended stay market, focusing on
Systems (gdS) such as amadeus that are prevalent in shorter stay business travelers and even tourists.
hotels and airlines. in fact two thirds of serviced apartments in the world
rental rate
rental rate fOr One BedrOOm unitS By lOcatiOn, q1 – q4 2010
Source : colliers international thailand research
the protests at rajprasong intersection directly impacted the occupancy rates over the course of the year. in the Q4 2010 average rental rate in
rate and rental rate in Q2 2010. the average rental rate in central central cBd increased approximately 7.4% from Qwhile other areas
Lumpini area decreased by nearly 20% in Q2 and has remained at these remain similar to Q3.
lower levels. in fact the area has gone from second to fourth in terms of
COLLIERS INTERNATIONAL | P. 9
10. Bangkok SerVICed apartment market report | Q4 2010
rental rate Of Grade a and B By rOOm type, q4 2010
Source : colliers international thailand research
the average rental rate of grade a unit are greater than grade B by approximately 1.7 – 12.7% depending on room type.
COLLIERS INTERNATIONAL | P. 10
11. Bangkok SerVICed apartment market report | Q4 2010
fOrecaSt
the serviced apartment market is dependant on two main variables. one greater comfort and security than that found in an apartment for lease.
is the number of expats, especially from Japan and the other is business it can therefore be assumed that those who occupy serviced apartments
and tourist visitors to Bangkok. there are a number of positives for the are more likely to be sensitive to violence and disruption. With ongoing
first segment as growing industrial activity seems to be translating into demonstrations and the heady election period soon to be upon us this
more expats coming to thailand and therefore increasing demand for trend is likely to continue and even become entrenched for the foreseeable
serviced apartments. However the tourism market in Bangkok remains future.
very depressed as the city reflects on the neglect of its tourism
infrastructure by failing to refresh itself and providing new attractions. the gloomy prognosis can be tempered by the nature of the sector itself.
difficult times for the industry lie ahead especially in light of a slew of the serviced apartment business is one of the most mature in terms of
new supply coming on stream over the course of 2011. choice and strength of local and international brands. in light of this the
sector can weather the situation with emphasis on developing niche
the upmarket appeal of Lumpini seems to be giving way to Late markets such as medical tourism, babyboomer retirees and hybrid hotel/
Sukhumvit as the new fashionable and perceived safer area in which to office locations.
stay. Japanese are by nature very cautious and sensitive to violent
demonstrations and this has likely led to some relocating away from
Lumpini. it must also be considered that people who stay in serviced
apartments as long stay guests are there for a reason; enjoying the
COLLIERS INTERNATIONAL | P. 11
12. Bangkok SerVICed apartment market report | Q4 2010
cOllierS internatiOnal thailand
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