Weekly Thai Real Estate News Roundup, Week 6, 2022
Thai Real Estate Association Expects High Demand in Second Half of 2022
President of the Thai Real Estate Association, Meesak Chunharakchot, projected this year's real estate demand to be outstanding. The government is encouraged to create a more flexible policy, allowing foreigners ease of accessibility in owning Real Estate in Thailand.
‘‘The fact that the country relies heavily on foreign income, especially in the tourism industry, would only make sense for the government to introduce a more flexible policy for foreign investors. By doing so, this would generate a significant demand for those who wish to invest in Thai Real Estate, especially Chinese investors that have been looking to invest’’. The rise in demand is expected to start from the second half of this year to 2023.
As for local investors, although the purchasing power and ability to access home loans decreases, the demand in the middle to lower classes is still relatively high. For those in the middle to upper classes with strong purchasing power, the government has yet to create any measures to stimulate the demand in the group. ‘‘This could be solved by introducing easier access to home loans, and for those with high purchasing power, will then decide to invest more’’ says Meesak, president of the Thai Real Estate Association.
Source: https://news.trueid.net/detail/bPObRZwzjpm4
Metaverse Real Estate sales value projected to reach $1 Billion this year
This week, CNBC reported that, according to analytics, real estate sales on Metaverse has reached $500 million last year and is expected to double this year
According to MetaMetric, Real estate sales on the four major metaverse platforms will reach $501 million in 2021. This was due to the announcement from Facebook rebranding as Meta and will now be focusing on Metaverse, causing real estate in the Metaverse to increase significantly, 9X to $133 million in last November. Although the sales have declined shortly after, January 2022 will still be 10X higher compared to last January.
AIA East Gateway Joins Hands With CBRE
This week, AIA has announced a partnership with CBRE to jointly manage the lease management of the project AIA East Gateway, a new premium office and retail space for rent, located in Bangna. The project is expected to be completed in the fourth quarter of 2022.
This continued development comes after successful projects launched by AIA, such as AIA Capital Center, and AIA Sathorn Tower. The project is packed with top class facilities, such as a 5-floor retail zone, complete with health shops, salt water swimming pool, 400 meter sky track and much more. The office area is designed to enhance working spaces, including 3-layer glass that helps prevent outdoor heat, air quality control system, energy-saving lights, premium grade office buildings amenities, and is only 20 minutes from Suvarnabhumi Airport.
Source: https://www.aia.co.th/th/about-aia/media-centre/press-releases/2563/aia-east-gateway.html
OCEAN Property Invest Beyond Bangkok
Managing Director of Ocean Property Company Limited, Napong Pariponphojanapisut, revealed that the real estate market in the first quarter of 2022 has shown signs of recovery. From opening borders, to measures that have significantly stimulated the economy within the country.
Ocean Property continues to expand beyond the capital markets. The company has started projects in other major cities such as Khon Kaen, Pattaya and Phuket, hoping to be able to meet demand for real estate for both residential and commercial purposes.
