Real Estate News

PROPERTY TAXES

Mon, 21 Sep 2009 22:22:12 +0100

Ministry reassures developers The Nation September 21, 2009 The Finance Ministry has assured land developers they will not face an unreasonably high tax burden under a planned property tax revamp. The ministry is revamping the property-tax structure in an effort to plug legal loopholes that allow owners of some lands and buildings to escape paying taxes. An informed source at the Finance Ministry involved in drawing up the new property-tax rules said provisions in the latest draft reflected advice from parties likely to be affected by...

QH to offer 13 new projects

Mon, 21 Sep 2009 22:21:23 +0100

The listed developer Quality Houses Plc plans to launch 13 new projects worth 15.61 billion baht next year, says president Rutt Phanijphand. The company has set next year's revenue growth target at 10-15%, or between 11 billion and 11.5 billion baht, on new projects and confidence in improved market sentiment. The company this year revised up its revenue target by 5% to 10 billion baht as sales of prebuilt units developed by Quality Houses and its subsidiaries surged. The developer recorded first-half revenue of 5.23 billion...

Resale condo market picks up

Mon, 21 Sep 2009 22:20:19 +0100

The escalating prices of newly built luxury condominiums in the city has created resale opportunities for used units in well-managed buildings, according to a study by Jones Lang LaSalle (JLL), a professional services firm specialising in real estate. There is continued interest in used luxury condominiums offering relatively attractive prices, said Daonum Lilavivat, head of residential agency business at JLL. In some cases, prices are half that of units in newly completed buildings or those under construction. The company finds that new...

Sansiri on course to B20bn

Mon, 21 Sep 2009 22:19:17 +0100

The listed developer Sansiri Plc is confident of achieving 20 billion baht in sales this year in line with the improved sentiment in the property market, according to Metha Agnwatanapanich, the company's executive vice president for business and project development. For its low-rise developments, Sansiri has already recorded 6.5 billion baht in sales out of a full-year target of 9.2 billion to 9.3 billion baht. Low-rise units account for around 50% of its sales and condominiums the rest. The company saw a significant improvement in sales...

New Bangkok project quietly debuts

Mon, 21 Sep 2009 22:16:19 +0100

DELUXE PROJECT QUIETLY DEBUTS ON WIRELESS ROAD The Oriental Residence is taking a low-key approach to high-end sales Writer: Nina Suebsukcharoen Thailand's property market may have been in the doldrums for the past year, but that has not stopped the debut of an ultra-luxurious serviced apartment and condominium high-rise across the...

AP plans 11 projects by end of next year

Thu, 17 Sep 2009 22:48:48 +0100

Bangkok Post Sept 15, 2009 Listed developer Asian Property Development Plc (AP) plans to launch at least 11 projects worth a total of 19 billion baht by the end of 2010, said chief executive Anuphong Assavabhokhin. The Address Asoke, worth 3.3 billion baht, will be on a four-rai site will contain 574 units priced from 3.95 to 9.3 million baht, an average of 110,000 baht a square metre. After a soft launch last week, the project has already been 60% sold. This year, three condominium projects under The...

Bangkok city condominiums

Thu, 17 Sep 2009 22:48:02 +0100

The Nation September 15, 2009 New projects spring up as demand growsSkytrain maintains Sukhumvit Road and vicinity as the most popular area Leading property developers are launching a large number of condominium projects in Bangkok's central business district, especially around Silom, Sukhumvit and Sathorn roads. The Sukhumvit area, from Chidlom to Ekamai, is one of the most popular locations around the route of the Skytrain. For example, Preuksa Real Estate has launched The Seed Musee, with a market value of Bt600 million, in Sukhumvit Soi 26. The project is about...

Developer sees growing demand

Thu, 17 Sep 2009 22:47:19 +0100

Nation Sept 12, 2009 Property firm Grand Unity Development plans to launch two or three new residential projects worth between Bt2 billion and Bt3 billion in the last quarter of this year. Managing director Naramit Sangaeum said that the company had spent Bt400 million to buy two or three land plots earlier this year to develop into two or three projects in the last quarter of the year. He added that the new projects would be located close to the mass-transit system. We...

Outlook for property improving

Tue, 15 Sep 2009 03:16:48 +0100

But segments for foreigners still suffer Bangkok Post Sept 9, 2009 The outlook for the local property market is bright for the rest of the year but remains dim for segments targeting foreigners, according to property developers, experts and agencies. Atip Bijanonda, president of the Thai Condominium Association, said the condominium market would boom in the last four months of the year due to its attractive features, especially the higher liquidity than other residential markets. Condominium buyers typically get capital gains when re-selling units during the transfer period....

Supalai accelerates launch of B8bn plans

Tue, 15 Sep 2009 03:12:40 +0100

Bangkok Post Sept 4, 2009 The listed developer Supalai Plc will launch eight new projects worth 8 billion baht earlier than planned due to improving market sentiment, says its president. The company previously launched two other projects earlier this year as it believed second-half performance be much stronger than in the first six months, said president Prateep Tangmatitham. This year will be better than last year, when oil and steel prices soared and there was a lack of labour, but there have been no problems this year,...