Weekly Thai Real Estate News Roundup, Week 46, 2023
Interest Rate hike impacts Residential Unit Demand
Interest rate hikes have affected the demand for the lower-end segment of residential units. This resulted in continued declines in the way of Q3 transfers.
The Real Estate Information Center (REIC)'s acting director-general, Mr. Vichai Viratkapan, stated that the amount of residential unit transfers dropped year-on-year since Q1 2023. More specifically, a 0.8% drop to 84,619 units.
Source
The Pink Sky Train Line contributes to a 3-7% Land Price Increase
The 30-station, 34.5km Pink sky train line (Khaerai-Min Buri) contributed to a 3-7% land price increase per year.
Examples include the Chaeng Wattana road to the Lak Si Roundabout, ranging from 250,000-380,000 baht per Square Wah.
Meanwhile, land prices along the Ramintra road range from 250,000-300,000 baht/square wah and less than 300,000 baht/square wah to only 200,000 baht/square wah in areas near Min Buri station.
Source
https://www.bangkokbiznews.com/property/1099058
Chinese Buyers reign superior with most units bought in the first 9 months
According to the Real Estate Information Center (REIC), the first nine months saw Chinese buyers buying the most residential units in Thailand.
In comparison to last year's records, there was a 37.6% increase, with Chinese buyers buying up to 10,703 units worth a total of 52,259 million baht.
Coming in behind Chinese buyers regarding most unit purchases at 2nd place are Russian buyers, followed by buyers from the US at 3rd place, Taiwanese buyers at 4th place, and buyers from the UK at 5th place.
Source
https://www.thansettakij.com/real-estate/580979
Asset Wise launches "The Title Legendary Bangtao" in Phuket
According to Mr. Kromchet Wiphanphong, managing director of Asset Wise, Phuket is a popular destination when it comes to the real estate market, especially for foreigners.
This is further complemented by Bangtao beach being one of the most beautiful beaches in the world, along with its wide array of amenities such as tourist attractions and restaurants.
Enter the latest in Asset Wise's condo projects, The Title Legendary Bangtao. The project itself consists of nine 8-storey buildings all within a 15-rai plot area and features 637 units. Sample units will be available for viewings early December.
Source
