Weekly Thai Real Estate News Roundup, Week 45, 2023
AP Thailand Keen on Condo Demand with new Condo Reveals
SET-Listed property developer AP Thailand plans to launch new condo projects worth a combined total of 7.3 billion baht this month. One project will be near Iconsiam and the other will be near Victory Monument.
In doing so, AP hopes to fulfill its pre-sales target of 13 billion baht by the end of the year.
Ms. Kamolthip Bumrungchatudom, chief of business group for condominiums, stated that the company is confident about the condo demand in these two locations. She said the company is certain that the foreign quota for the project will be fully-occupied.
Source: https://www.bangkokpost.com/property/2679499/ap-keen-on-demand-as-it-unveils-condos
4th Bangkok City Plan Revision reveals Mixed-Use Project launching in the North of Bangkok
News recently broke in regards to the progress of the 4th Bangkok City Plan revision, with a public meeting in all 50 districts planned for December.
High potential areas are undergoing changes in land use, particularly for areas along the routes of new mass transit lines. These include Ladprao Road, Srinakarin Road, and Ramintra Road.
Areas originally designated as yellow zones (low-density residential land) are being converted to orange zones (medium-density residential land). This will allow for increased condo development in line with the changing land prices influenced by the new railway system.
The brown zones (high-density residential land), while not increasing drastically, saw some notable transformations in certain areas. Expert urban planners analyze that the highest-potential locations will see mixed-use projects launching for increased prosperity.
Source: https://www.thansettakij.com/real-estate/580560
Supalai hopes for better Condo Market Performance next year
Mr. Traitecha Thangmatitham, chairman of Supalai Public Company Limited, expressed hopes for better condo market performance next year due to factors beyond control.
The developer will closely monitor the situation by observing the already-strict commercial bank loan approvals.
Other challenges in addition to the issuing of debentures include the Environmental Impact Assessment (EIA) report for project launches severely reducing 2024 project launch confidence.
Source: https://mgronline.com/stockmarket/detail/9660000100999
Thai Real Estate Sector Preparing to cash in as 2023 is drawing to a close
Ananda Development Public Co., Ltd's CEO, Mr. Prasert Taedullayasatit, stated that Thailand's property market became exceptionally active in the final quarter of 2023. This is largely due to a return to normal spending patterns.
In an effort to capitalize on consumer spending patterns, developers are hosting events and putting in tons of marketing efforts.
These include price reduction campaigns from Sansiri, the introduction of beautiful houses from NC Housing, special promotions from AP Thailand, and exclusive offers from SC Asset.
Source: https://www.nationthailand.com/blogs/business/property/40032638
