3-7 July 2023: Weekly Thailand Property News

Supalai Expands Luxury Home Market with 'Supalai Essence Ang Sila' in Chonburi Province

The regional real estate market, particularly in the Eastern Economic Corridor (EEC), is witnessing a notable resurgence, indicating a positive trend of recovery. This upturn can be attributed to the rebound in tourism, which has bolstered the country's industrial sector and export activities. Capitalizing on this favorable market condition, Supalai Public Company Limited has strategically launched new projects in 28 provinces nationwide. In Chonburi Province, where the real estate market has been steadily growing since mid-2022, Supalai has achieved remarkable sales exceeding 2,000 million baht, maintaining its position as the market leader for the fifth consecutive year. Their latest offering, the prestigious 'Supalai Essence Ang Sila,' showcases an array of single-detached houses, twin houses, and modern townhomes equipped with eco-friendly features such as EV chargers and solar roofs. Garnering significant pre-launch sales of over 150 million baht, the project has generated immense interest ahead of its official debut in July.

Reference: https://www.bangkokbiznews.com/property/1077089

Collaborative Effort Establishes Two Prominent Cities in Khao Yai-Sriracha EEC Region

A strategic partnership comprising One Origin Public Company Limited (ONEO), Asian Wellness Residence Co., Ltd., and two other entities has initiated the development of two integrated cities in the Khao Yai-Sriracha EEC area. With a total investment exceeding 1,422 million baht, this ambitious project aims to cater to the burgeoning demands of the Eastern Special Development Zone (EEC) and create iconic landmarks within the region. The development plan encompasses a diverse range of properties, including hotels, villas, and condominiums, leveraging the unique strengths and expertise of each participating company. The Khao Yai component, known as One Origin Khao Yai Well-Being City, will showcase upscale hotels blending harmoniously with nature, world-class design, and immersive leisure programs. In Sriracha, a renowned Japanese-style serviced apartment managed by a reputable chain will take center stage. This joint venture represents Asian Sea Corporation Public Company Limited's (ASIAN) foray into the real estate sector, which is driven by the area's promising growth prospects. Britannia Public Company Limited (BRI) will oversee the development of luxury villas, while Origin EEC Company Limited will focus on condominium projects across both locations.

Reference: https://www.thansettakij.com/real-estate/569592

Chinese Capital's Secret Investments: Dominating Thailand's Condo Market, Focusing on Chinese Buyers

Chinese capital groups have quietly been investing in Thailand's condo market for over 14 years, with a clear target on Chinese customers. They prefer to operate independently, without joint ventures with Thai companies and often take on leadership roles. Their strategy involves utilizing the full 49% foreign ownership quota to sell exclusively to Chinese buyers, while the remaining 51% is allocated to Thai customers. Chinese investors primarily concentrate on the mass market segment, with prices set at around 80,000 baht per square meter along the BTS line. Additionally, they show interest in high-end properties located in Sukhumvit and Phuket, priced between 1.6 and 2 hundred thousand baht per square meter. As the economy recovers, these investors anticipate further expansions in Bangkok-Phuket-Pattaya. Chinese venture capital firms invest in various property types, including condos, low-rise houses, and mixed-use projects. Once the COVID situation subsides, increased Chinese investments are expected in locations such as Phuket and Pattaya.

Reference: https://www.prachachat.net/property/news-1341094

Ratchaphruek: A Prime Location for Low-Rise Housing in Bangkok's Western District

Ratchaphruek is becoming an enticing destination for developers looking to invest in low-rise housing that caters to diverse age groups. Situated in the western outskirts of Bangkok, its strategic location offers excellent connectivity to the city center, including the popular Siam area, and is seamlessly connected to four electric train lines, with a particular focus on the Purple Line. The area is rich in lifestyle amenities, such as Crystal SB Ratchaphruek, The Walk Ratchaphruek, Central Plaza Pinklao, Denla Rama V School, and Bang Kruai Hospital. The growing demand for homes that accommodate both work and leisure activities, driven by the concept of a "Stay-at-home Economy," has made residential projects in Ratchaphruek priced below 10 million baht highly sought after by buyers seeking homes near transportation hubs. For real estate developers, Ratchaphruek presents an attractive investment opportunity in the thriving market of low-rise housing development.

Reference: https://www.thansettakij.com/real-estate/569251

Decline in New Residential Projects Launches in Bangkok Area, but Low-Rise Housing Market Thrives

The Bangkok-perimeter region experienced a 14% Decline in new residential project launches during the First five months of 2023 compared to the same period last year. While condominium projects saw a decrease, the market for high-end low-rise housing priced above 10 million baht continued to prosper. The total value of new project launches increased by 3% to 149,217 million baht. However, the sales rate on launch day showed a decrease. The expansion of transportation networks, including electric train lines and roads, has driven the demand for low-rise housing with easy access to transportation routes. Despite the recovering Thai economy, challenges such as high household debt and rising interest rates impact the real estate sector. Developers are adapting their strategies by exploring partnerships with non-bank financial institutions to facilitate housing loans and address credit rejections.

Reference: https://www.prachachat.net/property/news-1340441

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