As the two year hangover from the global economic crises is starting to wear off a number of delayed projects are coming back into the property market.
One of the best examples of these is Pattaya's Moevenpick White Sands Beach Resort. Formerly the configuration had been with two buildings housing a hotel and then a residential condominium. The new roll out now integrates these into a single tower and all 264 units are sold back of a hotel managed option by the Swiss hotel chain.
Longtime developer Pongphan Sampawakoop whose resume includes Hua Hin's Blue Lagoon and a stint with Grande Assets is being the project.
Condo units which tip just over 40 square meters are priced from THB6.7 million. Also on offer are 32 pool villas priced from THB17 million and up.
A rental program includes 30 days annual usage for 15 years, with guaranteed returns on a sliding scale at 5% for the first five years, 6% for the following five years and then 7% for the final five years.
High profile Thailand SET listed firm Raimon Land have continued their course towards a dynamic shift to the domestic property market.
Over the past two years a financial restructuring saw a disposal of premium land sites in Phuket and Bangkok in order to pay down debt and focus on stabilizing cash flow.
A timely shift in focus to the domestic buying pool has been well timed and sales at both The River and Northpoint have seen traction.
The recent roll out of the Bangkok freehold 185 Rajdamri and another new product launch in Pattaya are poised to take an optimistic view of the forward prospects for the nation's real estate market.
The CEO of Thai listed property developer Golden Land Bill Wilfong will be leaving the group at the end of December. Having worked through a 5 year term engagement he and his family are planning to return to Singapore.
During his tenure the group posted a strong financial turnaround which was highlighted by the completion of the luxury Infinity condominium residences, and premium commercial property Sathorn Square.
Also earning marks was a joint venture with Dubai based Istithmar for the upcoming hotel W Bangkok.
Recently Golden Land won the award for Best Developer at the 2010 Thailand Property Awards.
One of the island's largest property developers Laguna Phuket has launched a special holiday incentive with 15 year financing.
Three options apply with 30% downpayment and interest pegged at MLR + 2%, 40% down and MLR + 1% or 50% and only MLR ( bank minimum lending rate).
The special terms apply to both the Laguna Village townhouses, detached residence, Dusit Pool Villas and Banyan Tree units. Excluded are the Lofts and Deluxe Residences.
Package is available during high season for the first 20 purchasers.
For the first time in recent memory increasing numbers of Phuket property agents and developers are once again packing their bags and heading through immigration lines to promote island real estate market abroad.
Case in point is the Luxury Properties Showcase set to be staged in Beijing from December 10th to 12th.
The three day event to be held at the upscale Ritz-Carlton hotel is promoting luxury property both from the domestic and international sector.
Viewing the exhibitor profile they range from high end condominiums and villas, golf and marina properties, private island, shared ownership, wealth management and lifestyle brands.
We spoke to Norbert Wittinrich of Phuket's SEA Property who said he is taking the opportunity to attend the exhibition and start sowing the seeds of a longer term investment into what is viewed as a potential top source of new business.
Thailand's revenue department is viewing the non-traditional accommodation market of internet hotel and property rental sites with increasing interest.
According to recent public comments by officials many of these enterprises fall out of the provincial tax base and the Government is keen to increase public funded revenue.
Remarks have centered on the subject of internet booking sites which often have listing for villas, condominiums and apartments which are owned by foreigners transact business though the web and then remit money directly to owners with no tax paid.
Another area of concerns has been voiced over serviced apartments or condo hotels which do not have licenses to sell daily accommodation but have been competing with hotels which have to collect tax.
Moving toward 2011 the Provincial tax authorities are keen to tap into new income streams given that well over half of island tax collections are already in the hotel sector, so fishing where the fish are makes the most sense.
Longtime Phuket resident Brett Moffit has decided after 15 years to take a new direction in his career and has put up the dynamic island specific internet property domain name www.PhuketRealEstate.com for sale.
Certainly for anyone in the trade the key word magic combining Phuket + Real Estate is much sought after.
For anyone interested they can contact him direct at [email protected]
Bangkok's residential property market surged in November with Thailand's Minor Group completing sales of 7 luxury Residences within November for a total value of THB680 million.
With a limited offering of 45 three and four bedroom Residences and 8 Penthouses foreign buyers accounted for 60 percent of buyers. Selling and priced on a leasehold basis for 30 years the units are located on the top 21 floors of the upscale mixed use St.Regis hotel which is scheduled to open in March of next year.
While branding to a global name has played a key storyline, unit owners can avail of a menu of hotel services and access to facilities but there is not a rental pool operation so buyers are primarily end users.
Presently 26 units in the project are available to purchase in a finished handover condition. Six out of eight premium penthouse units have been sold. A pleasant surprise has been a strong Thai market making up 40% of the market composition.
Full furniture fit out packages priced from THB7.5 million baht have received strong take up. In line with the market positioning important items like kitchens by worldwide brand Gaggenau and Pogen Pohl have struck a favorable note with clients as have the teakwood flooring and fully fitted bathroom specification.
Given that all 53 Residences directly overlook the Royal Bangkok Sports Club and are nearby to luxury hotels such as the Four Seasons, Grand Hyatt Erawan and Siam Paragon the St. Regis Residences look to become the premier addresses in the city once fully opened.
For entrepreneur Bill Heinecke the strategy to develop a smaller number of premium sized Residences has proven to be a winning combination along with the confidence to build out during a time of economic and political challenges and to promote and sell them now ready. Clearly the current near complete status is fueling demand.
Cherngtalay now calls home to the island's newest home automation and audio visual firm Techworx.
With offices already in Koh Samui and Pattaya this is the firms 3rd showroom which is located near to the Lotus Tesco Express and Wine Connection.
One cornerstone product line on offer is Creston Home Automation which includes control from an Apple iPad over lighting, TV, DVD, blind or curtains, and gaming such as Xbox.
Installations can be planned for new homes but also retrofitting advice and services of a wider variety are available.
