āļāļĢāļ°āđāļ āļ
āļĢāļēāļāļē
āļāļģāļāļ§āļāļŦāđāļāļāļāļāļ
Plus Property Reveals Foreign Demand Supporting Thai Condominium Market
22 āļĄāļĩ.āļ. 2017
āļāđāļēāļ§āļŠāļēāļĢāļāļēāļāļāļĨāļąāļŠāļŊ
Plus Property, the full-service professional property and facility management agency, reveals the condominium market has started to recover, thanks to foreign demand. Meanwhile, developers have shifted their tactics toward road shows abroad after realizing the exponential growth in foreign demand â from both expats and those living abroad â over the past 5 years. Low prices, good rates of return when compared to neighboring countries, the central location within ASEAN and quality after-sale services makes it easy for buyers to make their decision and means the Thai property market remains attractive.
Mr. Anukul Ratpitaksanti, Managing Director of Plus Property Company Limited, the full-service professional property and facility management agency, disclosed that the signal pointing to the recovery of the condominium market has become more visible since the latter half of 2016, when the number of new projects entering the market increased by 32% compared to the same period of the previous year.
Amidst the economic uncertainties and the high household debt level during the period, developers have shifted their focus more toward the mid- and high-income segments. Developers have also expanded into foreign markets to attract purchases by foreigners and foreign investors, both of which currently pay significant interest in properties in Thailand because of its geographical advantages. In addition to its central location within South East Asia, Within the CLMV region, Thailand also boasts the highest number of development projects available for purchase. Data from Global Property Guide Research indicates the average condominium price in Thailand's central business areas is five times lower than that of Hong Kong and two times lower than that of Singapore. Therefore, there is room for the price to greatly appreciate. Meanwhile the prospects for locations in the proximity of existing and future electric train routes are factors contributing toward future investment.
In 2016, Thai developers were observed to have been visibly penetrating foreign markets. Supalai Plc. and Eastern Star Real Estate Pcl. hosted road shows in China, whereas Ananda Development Pcl. has been pursuing the markets in Hong Kong, Singapore and Taiwan. Thai developers have been pursuing foreign markets since year 2012, with Sansiri Plc. being among the first developers to tap into foreign markets. The company has some of the highest numbers of property units that were sold abroad. Road shows were held in Hong Kong, Singapore, Taiwan and China, and condominium presales were simultaneously launched in Thailand and abroad. This resulted in greater acknowledgment of the Thai property market among foreigners. Analysis of foreign demand based on Plus Property's data collection over the previous 5-year period splits demand into two categories.
Foreign buyers who live in Thailand constitute the first category. Plus Property's data for years 2012-2017 indicates that demand in this category expanded by some 700%. Most of this demand â 72% â resulted from purchases of condominium units for residential use whereas 28% resulted from purchases for the purpose of investment. 21% of units purchased by the latter group were leased out and 7% were resold. Demand within Bangkok expanded the most, having constituted 58% of units sold. Seaside units in Phuket, Chon Buri and Hua Hin constituted the second-highest demand growth (16%, 13%, 6%, respectively). Demand in tourism cities such as Chiang Mai and Pattaya both grew by 2%. The three most prominent groups of purchasers include Asians (58%), Europeans (29%) and Americans (7%). One-bedroom condominium units were the most popular among buyers (51%). Types of units, ranked in order of popularity, are as follow: two-bedroom units (30%), studios (17%), 3-bedroom units and penthouses. The most popular price range was that between 5-7 million baht (31%). This is followed by the 3-5 million baht and 7-10 million baht price range, each of which constituted 21% of sales.
Sansiri's projects that were sold abroad in Hong Kong, Singapore, China and Taiwan can be used to illustrate the demand from the second category â foreign buyers who did not live in Thailand. Over the past two years, 82% of units bought under this category were used for leasing purpose. 4% were resold, and the remaining 14% were purchased for self-use as residences. One-bedroom units garnered the most interest (71%), followed by two-bedroom units (16%) and studios (11%).The most popular price range was the 4-6 million baht range (55%), followed by the 6-8 million baht range (35%). Most of the buyers were from Asian countries such as Hong Kong, Singapore, Malaysia, China, Japan and Taiwan (83%). Europeans accounted for much of the remaining purchases (11%).
âThailand's condominiums, especially those in Bangkok, have significantly lower prices than units in Hong Kong or Singapore and have good rates of return when leased and resold. These provide the positive factors which draw the interest of foreign buyers who make the purchases for both residential and investment purposes. Other positive factors include Thai developers' credibility and quality after-sale services. There is willingness to step in and facilitate comprehensive real estate administration and management for investors. This includes facilitation of investment, finding renters, guaranteeing a satisfactory rate of return, and provision of after-sale personnel. Currently, businesses involved with administration of real estate properties need to make significant adjustments to accommodate the aforementioned foreign demand. There is a need for customer care personnel to be able to communicate in languages other than English â Chinese being an example. Customer service that understands each culture will provide a competitive advantage as we proceed towards the ASEAN Economic Community (AEC), an important link to the foreign demand that will contribute to the future growth of the real estate market,â said Mr. Anukul.
āļŦāļēāļāđāļāļĄāļđāļĨāļāļāļāđāļāļāļĩāđāļāļļāļāļāđāļāļāļāļēāļĢāđāļāđāļāļĩāđāļāļĩāđ: āļāļāļāđāļāļŠāļļāļāļļāļĄāļ§āļīāļ, āļāļāļāđāļāđāļŦāđāđāļāđāļē, āļāļāļāđāļāļāļāļļāļāļąāļāļĢ, āļāļēāļĒāļāļāļāđāļ, āļāļāļāđāļāļāļāļāļŦāļĨāđāļ, āļāļāļāđāļāļāļĢāļ°āļĢāļēāļĄ 4, āļĢāļ°āļāļāļĢāļąāļāļĐāļēāļāļ§āļēāļĄāļāļĨāļāļāļ āļąāļĒ, āļāđāļēāļāļŦāļĢāļđ, āļāļāļāđāļāļŦāļĢāļđ, āļāļāļāđāļ 2 āļŦāđāļāļāļāļāļ, āļāļāļāđāļāļāđāļāļāļāļļāļ, āļāđāļēāļāđāļŠāļāļŠāļīāļĢāļī
02.688.7555