Weekly Thai Real Estate News Roundup, Week 23, 2023
Rapid Surge in Land Prices along Yellow & Pink Sky Train Lines
The price of land along Ladprao Road, home to the yellow sky train line in Bangkok, has been consistently rising, reaching a current range of 200,000 to 800,000 baht per square yard. A similar trend can be seen along Srinakarin Road near Samrong Station, where land prices have significantly increased, ranging from 200,000 to 600,000 baht per square yard. Nonthaburi Province, housing the Pink Line stations, has also experienced an uptick in land prices, ranging from 230,000 to 300,000 baht per square yard. Additionally, along Ram Inthra Road, land prices currently range from 200,000 to 300,000 baht per square yard.
For More Information: https://www.thansettakij.com/real-estate/567435
Housing Association President Seeks Government Approval for Mega Project Development
Wasan Keangsiri, the Managing Director of Thararom Enterprise Co., Ltd., provides valuable insights into the post-2023 economic trends. According to Keangsiri, as long as there are no significant positive or negative factors, the economy is expected to maintain its current trajectory. However, he emphasizes the importance of effective risk management for real estate companies to adapt to future changes. Despite the economic landscape, Thararom remains steadfast in its investment strategy and maintains confidence in its super-conservative approach. Keangsiri also highlights the company's plans for continuous expansion and urges the government to take action in three key areas to support the industry's growth.
For More Information: https://www.prachachat.net/property/news-1313971
Dusit Central Park: Countdown to the Debut of Bangkok's Spectacular Mixed-Use Project
In a remarkable transformation, the iconic Dusit Thani Hotel Bangkok has been demolished, making way for an exciting new development known as Dusit Central Park. This ambitious mixed-use project is set to redefine the cityscape, offering a harmonious blend of hotel accommodations, office rentals, a shopping center, and a captivating Roof Park. Anticipation is building as the first phase of this grand endeavor, the hotel, is scheduled to open its doors to the public in June 2024, marking a significant milestone in this remarkable urban revitalization project. Subsequently, the office rentals and shopping center are scheduled to launch in 2025, promising a vibrant and dynamic destination for visitors and residents alike.
For More Information: https://www.bangkokbiznews.com/business/business/1070836
Trat Province's Land Consolidation and Development Drive Increased Land Value
On June 8, 2023, Mr. Sutthipong Chuncharoen, the Permanent Secretary of the Ministry of Interior, led the inauguration ceremony for a land consolidation project in Trat Province. The project aims to develop the area near Had Sai Dam Beach in Laem Ngop Subdistrict. During the ceremony, Dr. Wandee Kunchornyakong, the President of the Housing Association of Thailand, presented land deeds to the rightful owners. The Ministry of Interior emphasized its commitment to sustainable development, aligning with the United Nations' Sustainable Development Goals (SDGs), with the ultimate goal of fostering positive urban transformations and enhancing the overall quality of life for the local community.
For More Information: https://www.thansettakij.com/real-estate/567527
Interest Rate Hikes Impact Real Estate Market, Particularly Sub-3 Million Baht Properties
Chairman of Pruksa Real Estate Public Co. Ltd, Mr. Piya Prayong, highlighted the challenges faced by the real estate market in 2023 due to the recent increase in interest rates. The rise in interest rates has led to a higher rate of loan rejections, particularly for properties priced below 3 million baht. Alongside escalating construction costs and inflationary pressures, the growing price gap has negatively impacted the real estate sector. On the other hand, Ms. Kesara Thanyakornpak, Managing Director of Sena Development Co. Ltd, suggested that the current interest rate hike may not have as significant an impact as initially anticipated. The expectation of earlier-than-expected interest rate increases in the latter half of the year has influenced this perspective. Nevertheless, the situation still poses challenges for prospective homebuyers.
For More Information: https://www.bangkokbiznews.com/property/1071797
