10 Apr 2024
Real Estate and Construction
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30 May 2023
13 Mar 2023
Home sales, 2023: Remaining static or shrinking amid economic uncertainties, interest hikes and hefty household debts... Read more
2 Nov 2022
In 2022, housing market indicators have exhibited improving signs, but unevenly. Amid increased confidence towards the recovery in the economy and tourism after the COVID-19 pandemic has eased, residential developers have begun to resume investment in more new projects. However, new home purchases have yet to fully rebound because the overall household purchasing power remains fragile on the back of the high cost of living and debts. Although the number of home ownership transfers may accelerate during the final two months of 2022 as the easing of LTV measures is set to expire at the end of 2022, that will depend on purchasing power and qualifications of prospective home buyers. ... Read more
30 Dec 2021
The year 2022 will remain another challenging year for the housing market. However, the market will be supported by measures for reduction of property ownership transfer and mortgage registration fees to 0.01 percent for residential units with price of up to THB 3 million – which will be extended to December 31, 2022 – will be a supporting factor to prop up the residential property market, following the easing of loan-to-value (LTV) regulations by the Bank of Thailand (BOT) in October 2021. As a result, the home buying activities in the market is expected to pick up beyond what was seen in 2021.... Read more
27 Jan 2021
The residential property market has been facing a challenge once again since the beginning of 2021 due to the resurgence of COVID-19. In 2020, it was adversely affected by the COVID-19 pandemic as evidenced by substantial contractions in the residential property business indicators.... Read more
20 Nov 2020
In the final stretch of 2020, the Thai housing market has started to receive some good news with regard to progress in the development of COVID-19 vaccines, and Thailand’s better-than-expected economic performance in 3Q20., based on data provided by the Office of the National Economic and Social Development Council (NESDC, These factors are positive for the housing market.. Nonetheless, the spread of COVID-19 has affected the full-year 2020 statistics, as evidenced by the number of newly-launched residential units and the transfer of property ownership in the Bangkok Metropolitan Region– both of which have seen a significant decline.... Read more
18 Jun 2020
In 1H20, indicators for the housing market in Greater Bangkok have declined in line with the business environment. New home purchases fell by approximately 75 percent YoY on average during 5M20 while the number of home ownership transfers dropped 3.4 percent YoY, ... Read more
27 Nov 2019
The Cabinet, November 26, 2019, approved new economic stimuli for 4Q19. These include a 50,000-Baht subsidy on a home purchase down payment to ease financial burden of new home buyers, being the government’s third property stimulus measure so far this year. ... Read more
22 Oct 2019
Since the beginning of 2019, the residential property market has faced several challenges due to a slowing economy, which affects the confidence of buyers. Moreover, the purchasing power of consumers has not fully recovered. The loan-to-value (LTV) ratio requirement, designed to control the mortgage quality in the system, and accumulated unsold inventory covering various price levels, have prompted property developers to launch a series of marketing campaigns to energize the market since the beginning of this year. Moreover, the government has issued various stimulus measures to boost the real estate market such as the fee reduction for property transactions and tax waivers for first-home buyers to help people wishing to own their first home and low-income earners.... Read more
5 Aug 2019
The residential property market in Bangkok Metropolitan Region in the remainder of 2019 still faces several challenges, prompting developers to adopt a cautious approach in launching new projects and adjust their business plans in response to the market conditions in 2H19. Some have shifted to projects with affordable prices to attract mass consumers. The popular locations remain the areas surrounding the connection points of mass transit routes in outer Bangkok.... Read more
9 May 2019
The package includes the Finance Ministry’s residential property stimulus measure which targets the customer group with real demand. They are first-time buyers planning to buy a house with reasonable price. Additionally, there is a measure to ease the spending burden of low-income and middle-income earners who want to purchase a residential property worth up to THB1 million (in line with the 1-million-unit housing scheme). This group of homebuyers represents a large customer base. The stimulus package has different objective from that of the loan-to-value (LTV) requirement issued by the Bank of Thailand to ensure mortgage loan approvals are in consistence with borrowers’ debt service ability (e.g., purchasing for speculation/investment) and to govern loans approved for expensive housing units to oversee the quality of housing loans and financial stability of the system.... Read more
15 Feb 2019
The residential property market will continue to face a number of challenges in 2019. These include a fragile economic recovery in Thailand, weak purchasing power, especially of low-income earners and high levels of housing inventory. Given this, KResearch has conducted a survey on the behavior of Bangkok residents toward home purchases so as to find out demand over the next 1-2 years. The poll attaches importance to the LTV measure because it is a challenge factor for 2019 that may affect home buying decision of Bangkok residents. ... Read more
24 Jan 2019
In 2019, residential property developers in Greater Bangkok may face more challenges in bolstering sales because purchasing power overall has not fully recovered and there are various economic factors affecting consumers’ decision to purchase homes. Under this circumstance, real estate developers may need to tap into consumer segments having strong demand and ability to purchase homes over the next 1-2 years, such as Gen-Y consumers, who want to buy their first homes. ... Read more
19 Nov 2018
The draft of the Land and Building Tax Act, B.E….will replace the current local maintenance tax, building and land tax laws once it has been enacted. The new Land and Building Tax Act is intended to enhance the efficiency of tax collection by local administrative organizations in line with the current situation and boost effective use of land over the long term. Tax payers may include land and building owners, plus those who hold and make use of land or buildings owned by the state. It has been assessed that the government will be able to collect more taxes by approximately THB10 billion p.a. over the next four years once the new land and building tax is enforced. On November 16, 2018, the National Legislative Assembly (NLA) passed this long-awaited bill, which will become law after it is published in the Government Gazette. Tax collection shall commence on January 1, 2020. Assets used for agricultural purposes by individuals will be exempted.... Read more
25 Jul 2018
Being in a transition from an ageing society to an aged society, demand for housing facilities intended for the elderly in Thailand has risen. In this market, there are developers in both the public and private sectors, and for private projects; they may be classified into two types: 1) general residential projects with accommodative functions for senior residents; and 2) retirement community projects.... Read more
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