14 Mar 2024
Real Estate and Construction
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2 Aug 2023
23 Jun 2023
12 May 2023
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
5 Jul 2021
The protracted COVID-19 pandemic and rising number of daily infections has prompted the Thai government to impose a partial lockdown. This measure includes a ban on construction activity at large projects for at least one month, effective June 28 – July 28, 2021, ... Read more
25 Mar 2021
KResearch projects that sales of construction materials stores may improve slightly from the previous year, by approximately 0.2-1.9 percent in 2021, or an estimated market value of THB 803-817 billion. These figures are predominantly supported by the Thai government’s continuous investment in construction projects, which could grow by 3.3-4.7 percent. This growth compensates for the slowdown in the private sector’s investment in property projects which may contract by around 6 to 3.8 percent. Wholesalers and distributors are expected to perform better than other operators in the construction material sector as their customer base is related to projects funded by the government and large private companies. Bright prospect is also seen for modern trade retailers seeking to increase their sales volume through both offline and online channels.... Read more
9 Dec 2020
The construction industry has experienced a sudden spike in costs at construction sites due to operational adjustments to cope with the coronavirus (COVID-19) pandemic. Such costs include transportation, accommodation and personal protective equipment for workers. KResearch is of the view that COVID-19 preventive measures of construction companies may drive up their construction costs by 0.2-0.5 percent from March 2020 until COVID-19 vaccines are available in the market. In addition, their costs will likely rise by another 0.83 percent as they have to increase the number of shifts to reduce crowding at construction sites while also incurring higher labor costs due to labor shortages. In 2020, overall construction costs may increase approximately 1.03-1.33 percent per project.... Read more
30 Oct 2020
The construction industry is set to face monumental changes in the near future. Given recent labor shortages, Thai construction business, which is labor-intensive, may need to consider an alternative approach that requires less manual labor through a greater reliance upon new construction technology and equipment. One technology that can help address this challenge is pre-fabrication (or precast construction) – this construction method will likely lower the total project cost by approximately 15 percent, while reducing the use of manual labor by around 50 percent and construction time by around 30 percent. ... 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
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
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