LPN’s purchase of another development site, this time on Rama IV Road in downtown Bangkok shows more confidence in Thai property market.
LPN acquired a 1,704 square wah site for 255,600,000 baht equating to 150,000 baht per square wah according to a report made to the Stock Exchange of Thailand on January 28, 2010.
LPN will develop [...]
LPN Development Public Company Limited announced details of their latest land purchase to The Stock Exchange of Thailand, a 3,194 square wah (12,776 square metre) site at Bang Khae for 102 million baht (32,000 baht per square wah). The date of the transaction was October 26, 2009.
The company will develop 4 low-rise 8 storey buildings [...]
Bangkok – 20 January 2010 – 2009 was a challenging year for the Thai property market, but CB Richard Ellis (CBRE) sees positive signs for 2010. Whilst 2009 has been a tough year, it was not as bad as many expected.
2010 has begun with a more positive market sentiment. The improving economic outlook globally and [...]
LPN one of the leading developers of entry level condominiums announced to the Stock Exchange of Thailand that they had acquired a 5,921 square wah (23,684 square metre) plot of land at Ratchayothin from another smaller publicly listed Developer, Metrostar Property.
This is further evidence of confidence among the larger developers to proceed with major projects.
It [...]
CB Richard Ellis sees residential market sentiment as positive throughout the majority of 2009 with prices and opinion improving quarter on quarter.
A recent press release from another agent highlighted the drop in the house price index, placing Thailand’s residential market 38th out of a sample of 42, above Dubai and three Eastern European countries. Whilst [...]
Bangkok Residential Sales MarketView Q3 09
For the second consecutive quarter the majority of sales have come from Thai nationals, who are not just looking to be end users but also to be buy to rent investors. Thai purchasers believe that prices have reached the bottom and are going to rise and see property as a [...]
Bangkok Residential Leasing MarketView Q3 09
Five apartment buildings were completed, with a total of 62 units. The total supply of apartments units was 11,151 increasing by 0.56% Q-o-Q and 4.5% Y-O-Y. The total number of condominium units in downtown Bangkok grew by 1.7% Q-o-Q and 14.1% Y-O-Y to a total of 61,522 units.
Grade A rents [...]
LPN and Supalai reported that they had sold the majority of units in four projects that were launched on the weekend of November 21 and 22, 2009.
LPN launched and sold 1,026 units at Lumpini Ville, Ladprao Chokchai. The average unit size was 29.5 square meters and the average achieved price was 1.43 million Baht per [...]
The current restrictions on foreign ownership in particular the restriction of foreign ownership to 49 % of the sellable area of a condominium at the limit on the current length of lease to 30 years with options to renew will affect Thailand’s resort property markets which in the case of Phuket or Koh Samui are almost totally [...]
Momentum is growing around the world for certification of the environmental efficiency of buildings. Although Thailand has not yet adopted its’ own certification standards this has not prevented developers from adopting international standards in the absence of a local standard.
This move is in a response to demand particularly in the office market. We believe that [...]
Summary
The second quarter of 2009 started badly with civil disturbances in Bangkok over the Songkran (Thai New Year) holidays in April. However, despite this inauspicious commencement to the quarter there were signs of improvement in certain property sectors.
The luxury condominium market saw a significant improvement in the number of sales compared to the first quarter. [...]
Summary
The biggest change in Q2 2009 has been the nationality of purchasers. In 2008 up to 50% of primary sales purchasers for off plan sales were foreigners. In the second quarter of 2009 we saw that change to Thais making up 80% of purchasers both for primary sales from developers and resales in projects approaching [...]
