13 Mar 2023
Real Estate and Construction
Home sales, 2023: Remaining static or shrinking amid economic uncertainties, interest hikes and hefty household debts... Read more
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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
6 Sep 2021
Most residential property developers have postponed the opening of their new projects since the beginning of 2021 due to unfavorable market conditions and the high level of unsold residential units. They have also adjusted their business strategies in line with market conditions. According to the Agency for Real Estate Affairs (AREA), new resident units launched in the Bangkok Metropolitan area totaled 25,257 during 1H21, a 15.9 percent decline YoY. The steepest fall was seen in new condominium units because of the elevated level of unsold units, and the fact that developers have shifted their strategic focus towards the low-rise housing market as there is real demand in this market. Moreover, it is less time consuming to build low-rise homes and easier to manage risks. ... 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
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
18 Apr 2019
Condominium developers are expected to face greater challenge in 2019 due to increasing economic uncertainty as well as specific factors affecting condominium market. For example, the demand for condo has been somewhat absorbed and there are a number of remaining unsold units covering a wide range of prices amid the imbalance between purchasing power and selling price. Moreover, new regulatory and legal requirements have become effective. These factors have prompted business operators to attach greater importance on their business plan adjustments. ... 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
24 Sep 2013
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24 Jun 2008
12 Dec 2007