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Raimon Land tops off 185 Rajadamri
Raimon Land directors pose
for a group photo during the topping out ceremony for 185 Rajadamri.
Luxury property developer Raimon Land recently celebrated
the topping off ceremony for its landmark 185 Rajadamri project in Bangkok.
The event marked an important construction milestone for the project on the
historical Rajadamri Road. The structural work for the 35-storey 185
Rajadamri tower has now been completed and the mechanical, electrical and
plumbing systems as well as general architectural work are proceeding as
scheduled.
Concrete works for the substructure have been completed and were topped out
on 11th December 2012. Meanwhile, columns, retaining walls, stair lobbies,
lift shafts and concrete slab for the ground floor have been completed up to
level 29. Slip form for the columns, lift cores and stair halls are complete
up to level 32.
During the last quarter of 2012, the company reported strong sales progress
at the 185 Rajadamri project, with 71% of its saleable area now contracted.
“185 Rajadamri’s topping off ceremony represents another big step forward
for Raimon Land as we deliver one of our best condo developments which we
envisioned as an architectural masterpiece and the definitive statement of
luxury living,” said Raimon Land CEO, Hubert Viriot. “Up to now, 195 units
at 185 Rajadamri have been sold. The total project value is approximately
THB9.6 billion (US$314 million).”
The 185 Rajadamri project is due for completion and transfers by the end of
2013.
NB: For more Raimon Land news, turn to page 5.
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Pattaya developer sees quality
projects on the rise
Tulip Group’s CEO shares his
views on the Pattaya real estate scene and talks about success with the
award-winning The Cliff condominium in his partner project with Nova Group.
Kobi Elbaz, CEO of the Tulip Group, is a highly respected
and well known business man in Pattaya and as the high season approaches we
took the opportunity to speak to him about his company’s current property
portfolio and how he sees Pattaya developing in the future.
Q: You and your project partner Rony Fineman have just been presented
with the Best Development award for The Cliff at the Thailand Property
Awards, it’s a project that was started a few years ago, but it’s obviously
one that you are very proud of?
Project partners Kobi Elbaz,
CEO of the Tulip Group (left) and Rony Fineman, President of the Nova Group
(right) pose with their ‘Best Condo Eastern Seaboard’ award for The Cliff
condominium at the Thailand Property Awards Gala presentation ceremony in
Bangkok, October 2012.
A: Yes definitely, when Rony and I bought the land
in Pratumnak with the aim of creating a high rise building, people were very
surprised as they thought the area was very weak and that it was populated
with low-rise buildings.
But we found it was the right time to launch it; we designed it in three or
four months and we decided to launch it during the economic crisis, it was a
time when everybody stopped building, even my projects’ stopped including
Centara Grand. And apparently we satisfied a niche that was not previously
available. I remember that in the first week, we sold one hundred units
because the demand for this type of project was very high and then it became
a huge success.
The distinctive blue and white
exterior of The Cliff on Pratumnak Hill.
After this many other companies realized the potential of
this area and this has in turn changed the skyline of Phratumnak.
Q: The Cliff was also one of the first projects to offer much more in the
way of communal areas and gardens?
A: That’s right, we have four and a half rai of land for the Cliff; at
one point we considered having two buildings to maximize the land, but then
we decided to make it more like a five star hotel environment, not just
another condo.
I feel we deserved to win the property award as the Cliff has a magnificent
swimming pool, a waterfall and massive landscape, I believe it will be a
very fun place to live in and during the construction we improved a lot to
satisfy the demand.
I would say that for me and Rony the real winner here is not us, but rather
the buyer, because they trust us and they know we will complete it and I am
very proud.
The Cliff project features a
huge swimming pool, waterfall and outdoor landscaping.
Q: So you see the accolade as a form of stamp of
approval from the Thailand Property Awards, which then in fact rewards those
who have invested?
A: Yes absolutely
Q: I would imagine this in turn helps to build on your pedigree?
A: For me I have a different perspective, people have their own ideas about
what it the right thing for them, this project is massive with four hundred
and twenty eight units with blue and white exterior with blue glass, and as
the owner it was our decision to go with this design, but of course that may
not be to everybody’s taste.
I can tell you we were very happy with the rapid pace of sales and it seems
we satisfied what people wanted at that time.
Q: When will The Cliff be completed?
A: Now we are testing the swimming pool, finishing off the landscape, we
invested six million baht of our own money to hide all the cables
underground and we will be ready to transfer by the end of the year (2012).
Q: How do you feel when you see many of your competitors emulating what
you started with the Cliff?
A: I take it as a very big compliment to me and to Rony. To be fair to the
other developers, they may have used some of our ideas, however I see that
everybody is now using better materials, better designs and this is all
about competition. With every project that is built – the next one will be
better.
The Amari Residence is our thirty-seven story building with half being
serviced apartments and the rest is residential units and it’s an amazing
project. If you look at the design and the finishes and facilities you will
see that it is even better than the Cliff because it came later.
Q: Is this because of the changing needs of the customer?
A: Everything is for the benefit of the customer and the competition in the
city is something I see as very healthy. To give you an example, if you ask
me if I would welcome competition near the Centara Grand in Jomtien, the
answer would be definitely yes, because if someone makes a project that is
similar to mine, it actually helps me anyway.
You cannot be the only developer in Pattaya, there are many great developers
including Matrix, Heights Holdings and Sansiri – to name but a few, and I
think they are all doing a good job.
We don’t want to make something that is cheap, we all want to create better
and better projects and if you follow the projects of Tulip you will see how
high our standards are and how they are better than others.
Q: Has the demographic changed vastly in the last few years in terms of
the nationality of your buyers?
A: Yes, in my project I now have many Thai’s buying from me, this is aided
because Centara and Tulip and Amari together with Nova are Thai brands and
Thai people have rediscovered Pattaya after the flooding last year.
Previously they didn’t really want to look at Pattaya, but during the
flooding they discovered a new city. With the best hotels, amazing shopping
centres and the infrastructure is also improving. We also have islands that
are only thirty minutes from here; you don’t have to go to Phuket to see
clear blue waters.
The new international airport helped put Pattaya on the map a few years ago,
whereby before the Russian tourists used to fly on to Phuket and Samui, we
now find that they come to Pattaya. We are also seeing a rise in the amount
of Chinese & Indian visitors and we are starting to see the Americans and
Europeans returning.
Q: What is your main focus now for the upcoming high season?
A: We own a fair amount of land in this city; in 2012 we announced the
Golden Tulip hotel and condominium with eight hundred and twenty two units,
two hundred and twenty hotel rooms with a three thousand square meter
swimming pool in the heart of the city.
So far without any advertising and drawings we have sold almost three
hundred units and this is because it is a prime area. It’s the first time in
my life I have paid five hundred million baht for the land, which four years
ago would have only been one hundred million baht. So yes, we see the
demographic changing and that the people want to be closer to the city
center.
I will not be launching another project in the near future as there are many
projects in Pattaya under construction at present. And I will keep a keen
eye on how we do after the high season, if we get millions of visitors, we
will launch, if not, we will wait.
Q: Apparently they are approximately thirty nine thousand units available
at the moment?
A: That’s right and I think there will be a further ten thousand launched in
the coming months. As a policy we are only interested in projects in prime
areas. I can’t see how our company can have any negative effects by our
projects such as Centara Grand, Waterfront, Centara Avenue, Amari, Golden
Tulip. But it’s still a lot of units and to sell a project is very difficult
and to build it is even more difficult.
Q: It seems there are many challenges to building a project, how do you
deal with that?
A: It’s part of doing business in any country: when I was looking for
construction companies for the Cliff, I had a hundred companies tending for
the business. It requires a lot of manpower and labor and the game changed.
After the flooding, getting good labor was very hard and expensive as so
many infrastructures had to be fixed after the flooding. The government is
always improving the infrastructure and there simply isn’t enough manpower.
Q: So the land prices and the labor prices have increased significantly.
A: Definitely, first of all because of the minimum wage and the skilled
workers expect more and it’s very understandable. So the construction
companies can choose who they want to work with.
It’s good for the economy, but in the long term the unit prices have to be
adjusted accordingly.
Q: But these are factors that apply to all the developers?
A: Yes that’s right, the price per square meter compared to two years ago is
significantly higher and this also applies to landscape construction. On top
of this the processes of EIA are slowing down many projects.
There is no bad developer in the city and in the past few years the quality
of projects is improving vastly, we are all facing the same challenges but
as the city continues to thrive, hopefully so will we.
(NB: Interview conducted by Paul Strachan).
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Developer launches Phase 2 of popular S-Fifty Condo
Pongsathast Jiraprasertsuk,
executive of S-Fifty Condominium (right) introduces the project’s executive
team at the Phase 2 launch party held Dec. 15.
Urbanscape Real Estate Developer Co. has launched the
second phase of its four-building S-Fifty Condominium project while thanking
Phase 1 buyers recently with a party at its Pattaya offices.
Urbanscape executive Pongsathast Jiraprasertsuk hosted the Dec. 15
gathering, officially launching the 100 million baht second phase of
building, which will begin in June this year. After selling out the first
building in just 9 days, the second phase has also seen an equally positive
response from buyers with sixty of the second building’s 72 units having
already been booked.
S-Fifty, located at Sukhumvit Soi 50 in South Pattaya, is scheduled to break
ground early this year on the 85 million baht first of four 8-storey
buildings, each with 79 units. Prices begin at 789,000 baht for 22-sq. meter
units, with 34- and 44-sq. meter units available. Backers tout the
condominium’s location near shopping as its main benefit.
Pongsathast, whose company also built the Blue Resort and Blue Sky condo
projects, thanked customers for the strong support.
“S-Fifty Condominium is a brand that we have put our efforts into and
developed a better quality of residence to satisfy the demands of
working-generation customers and for individuals using a lifestyle composed
of convenience, facilities in the heart of the city that is ideal for a
relaxing weekend with a peaceful environment,” he said.
Construction of the total project is expected to be completed by the middle
of next year.
(By Phasakorn Channgam)
Thumbs up for Urbanscape’s
S-Fifty Condominium.
A typical bedroom on display
at the project’s showroom.
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A.K. Property launches
‘art@Thonglor’
An artist’s impression of the
completed art@Thonglor condominium.
A.K. Property, a subsidiary of the KP Group, has unveiled
its debut development in downtown Bangkok titled “art@Thonglor”, located on
Soi Thonglor 25, Sukhumvit 55 Road (Thonglor).
The project will be developed on a plot of 0-3-63 rai, comprising an
8-storey building with an underground floor. The number of units totals 102
and will be sized from 36.50 – 71.50 square meters. The one-bedroom type
will have unit prices starting at 3.45 Million Baht and the two-bedroom type
will start at 5.43 Million Baht. Total project sales value is 490 Million
Baht.
Complete functional facilities include fitness room, swimming pool (and
separate pool for kids), car-parking, 24-hour security system with CCTV and
access card control.
Amrit Srikuruwan.
Amrit Srikuruwan, Managing Director of A.K. Property
Company Limited, says the project’s prime location is one of its major
selling points.
“With a lot of competition in Bangkok condominium market, this location is
one of the most popular among business persons and the general public due to
its close proximity to the BTS links and multiple access routes including
Sukhumvit Road and Petchburi Road. It is also surrounded with important
places like famous schools and hospitals, government agencies, leading
department stores and restaurants,” he said.
“Demand for premium-grade condominium buildings remains high, particularly
for one-to two-bedroom units which are in short supply in this location amid
new demand from businesspersons ahead of the AEC opening in 2015. Selling
prices of condominium unit in this location are between 100,000 – 130,000
Baht per square meter,” Srikuruwan added.
The company chief says he expects to close sales on “art@Thonglor” within 6
months.
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Tulip Group announces
annual sales results for 2012
An artist’s rendering of Tulip
Group’s Waterfront Suites & Residences.
Pattaya based property developer Tulip Group recently
announced its sales performance for 2012. The company currently has four
branded residences under construction these include: Centara Grand Residence
Pattaya, Waterfront Suites & Residences, Centara Avenue Residence & Suites,
and the Golden Tulip Hotel & Residence.
CEO Kobi Elbaz announced that 2012 had resulted in a total of 620 sales with
a value of 4.8 Billion Thai Baht in signed sales contracts.
“2012 has been a very satisfying year for us, with the launch of Centara
Grand Residence and Golden Tulip Hotel and Residence, our results I feel
show our strength in Pattaya, and the confidence that the market has in our
products” said Mr. Elbaz
The results confirmed that Centara Avenue was 95% sold, Waterfront 70%,
Centara Grand 50% and the recently launched Golden Tulip Residence running
at 35% in just a 2 month sales period.
Noble unveils big plans for 2013
Kitti Thanakitamnuay,
Chairman and CEO of Noble Development PLC (center) poses with other Noble
directors at the announcement of the company’s plans for 2013.
Noble Development has announced plans to launch at least
three new high end condominium projects in the first half of 2013 with a
total value of over Bt7 billion in Bangkok’s Ratchadapisek, Thong Lor and
Sukhumvit areas. The three new developments will be in addition to Noble’s
Ploenchit project that has also already made impressive progress with good
sales and a completion scheduled in four years. Noble Ploenchit, with a huge
project value of Bt15 billion covers a 9 rai site including 4 rai of green
area close to the Ploenchit BTS station.
Kitti Thanakitamnuay, Chairman and Chief Executive Officer of Noble
Development PLC, commented: “Next year we will continue to build our
business based on our expertise in developing high-quality condominiums with
inspiring designs in Bangkok’s CBD. Our main focuses in 2013 will be on two
areas. Firstly, we will accelerate construction and sales for the Noble
Ploenchit luxury condominium project. Secondly, we will launch at least
three new projects in the best locations in Bangkok CBD close to the BTS
lines. We are strongly confident that all the projects will receive a warm
response from the market.”
An artist’s rendering of the
Noble Ploenchit project.
In 2012, Noble Development achieved Bt3 billion in actual
sales with a Bt12 billion backlog that will be gradually recognized in the
next 1-4 years. Thanks to the company’s strong financial outlook, Noble is
confident in its long-term growth.
“We will continue to grow our business with a focus on developing high-end
residential projects, both in luxury high end and affordable high end
segments, said Kitti. “Although it is quite difficult to find good locations
in Bangkok, that’s not a problem to us. We will continue to be committed to
offering only the best to our customers”.
Following a series of new project launches with total value of Bt2.5 billion
in 2012, Noble plans to make a more aggressive move with at least three new
projects in the first half of 2013. With a total investment of Bt7 billion,
the new projects will represent 200 per cent growth. Located in
Ratchadapisek, Thong Lor and Sukhumvit areas, the three new projects are in
Bangkok’s best locations. In the second half of the year, Noble is also
considering acquiring more plots for new projects to be launched before the
end of 2013.
According to Kitti, the Thai property market continues to have strong
outlook, especially when considering investment potential. At present, the
economy is in the “negative interest” stage where interest rates are
relatively low while inflation is on the rise. In this situation, investment
in property projects, both for living and long-term investment, is
considered the most efficient and secured profitable way of saving.
“The AEC integration in 2015 will also encourage free flow of investment and
money. That means greater opportunities for business operators to enter into
high potential cities, especially those which are gateways to our
neighboring countries, and in neighboring countries. Noble sees this
potential and is studying the possibilities for this plan,” concluded the
Noble CEO.
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Kingdom Property & AddressTalk launch first social media
community for homebuyers
The Overview page provides an informative and
detailed description of Southpoint for potential clientele.
Thailand real estate developer Kingdom Property has
signed a ground-breaking agreement with AddressTalk, a social media platform
for multi-unit communities, to provide interactive communications between
the developer and its customers.
The tailor-made community platform was launched last month for Kingdom’s
Southpoint project, a high-quality 672 unit development on a four-rai plot
in the prestigious Prathumnak Hill area of Pattaya. Southpoint, valued at
THB2.5 billion and scheduled for completion in 2015, is part of the
developer’s rapidly expanding pipeline of projects that now stands at a
total value of THB10 billion.
Kingdom Property’s collaboration with AddressTalk, available on all mobile
and computer devices, is the latest pioneering initiative by the developer
in its pursuit of better ways of doing business in the property industry.
AddressTalk provides a dedicated social media space for Southpoint and will
allow Kingdom Property to post notices, documents and photos as an
interactive communication tool for buyers, who, as verified members, are
able to post comments, ask questions, make suggestions and hold open
discussions.
There is also a function for ‘followers’, so anyone interested in Southpoint
can do their own research, ask the views of customers and have exposure to
ongoing debates and discussions. This means buyers can make an informed
decision on their purchase. Upon completion of the project in 2015 and the
transfer of units, the online community will continue to thrive, providing
owners and residents with a platform to discuss issues, share information
and stay in touch with the management whilst maintaining an ongoing link to
Kingdom Property.
Kingdom Property Chief Executive Officer Nigel Cornick said that the
partnership with AddressTalk confirmed Kingdom’s long-term commitment to
customer satisfaction, transparency in the construction process, and after
sales service following completion.
“We are delighted to partner with AddressTalk. They have a powerful social
media platform which we are able to customize to assist our customers in the
buying, after-sales and project handover process in a completely transparent
manner,” Mr Cornick said.
“We believe that this will create great value for our customers. We can keep
them informed every step of the way regarding the on-time delivery of their
property, listen to their views and comments and, in doing so, demonstrate
our long term commitment to them even after the project is completed and
handed over.”
AddressTalk Chief Executive Officer and Co-Founder Rob Oldnall applauded
Kingdom Property for demonstrating ‘the ultimate responsibility of a
developer’ by pioneering interactive communications with buyers.
“With every buyer comes a new relationship and, with it, the responsibility
for a developer to hold the buyer’s trust and confidence,” he said. “By
using a third-party platform, Kingdom has demonstrated its commitment to
transparency and accountability.
“AddressTalk represents an opportunity for Kingdom to encourage fact not
rumor, be open to addressing the hard questions and ensure absolute clarity
in the process. And most importantly, it means they can keep their promise
to deliver on-time and to all original specifications.
“We could not have chosen a better partner than Kingdom - and we are very
pleased to be rolling this out for them, especially given the track record
of Mr. Cornick in developing iconic projects in Thailand with innovation,
efficiency and attention to his customers,” he added.
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Raimon Land projects update - Pattaya
Property developer Raimon Land has announced the
company’s latest success with the Northpoint Closeout Auction that was held
last month at the Infinity Ballroom of the Pullman Pattaya Hotel G.
13 units from an official list of 15 auction units were successfully bid and
sold for more than 140 million baht. Units available at the auction ranged
in size, from 65 to 131 square meters in several unit types – including one
to three-bedroom residences.
Construction work well
underway on the Zire Wongamat condominium.
More than 200 Raimon Land customers and homebuyers
attended the event.
Meanwhile the company has updated its progress report for the Zire Wongamat
project in north Pattaya. Three tower cranes and concrete placing booms for
Towers A & B and car park building have now been installed and the Tower A &
B structure slip form for lift cores have reached levels 17 and 12
respectively. The Beach Club, consisting of a show unit, sales office
facilities, swimming pools and a landscaped beach frontage, are now complete
as are the foundations of the car park building.
The Zire Wongamat will comprise 37 and 54-storey residential towers
encompassing a total of 450 private residential units and is expected to be
complete by 2014.
Finally, the company’s latest project in Pattaya, the UNIXX South Pattaya
condominium, has seen further progress with the Letter of Award for the
piling works being issued and mobilization was due to commence last month.
The piling work is due to be completed by end of Q1 2013.
For more information on these projects and more, go to
www.raimonland.co.th.
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AIA Thailand appoints CBRE as principal
agent for office developments in Bangkok
Ron van Oijen (3rd from
left), Chief Executive Officer of AIA Thailand, presents the appointment
contract to David Simister (3rd from right), Chairman of CBRE Thailand,
alongside Anucha Laokwansatit (2nd from left), AIA Thailand’s General
Manager and Chief Investment Executive and executives from CBRE at AIA
Towers on Surawongse Road.
AIA Thailand recently announced the appointment of CBRE
Thailand as the principal agent for leasing grade A office spaces in the AIA
Capital Center and AIA Sathorn Tower, its first large-scale real estate
projects in Thailand with a total of 92,500 square metre lettable area.
“We are very excited about the projects because they are our first ever real
estate developments that feature office and retail components and located in
Bangkok’s prime business areas, potentially setting a footstep for AIA to
grow further and beyond our core business in life insurance”, disclosed Ron
van Oijen, AIA Thailand’s CEO in a contract signing ceremony, adding that
“given the significance of the projects to AIA Group and AIA Thailand, it
gives us a great deal of confidence to enlist services from a highly
experienced agent like CBRE that will help drive success to both of our
commercial real estate developments”.
Located on Ratchadapisek Road and only 100 metres away from the Thailand
Cultural Center MRT station, the AIA Capital Center will be a 35-storey
office complex with a floor plate of 1,700-1,800 square metres, offering
54,000 square metres of premium grade A office space for rent. In addition,
there will be almost 5,000 square metres of retail space available to rent.
“This iconic office development will be the first grade A office development
in Bangkok’s northern corridor and it will use cutting-edge green designs to
ensure a sustainable future and optimum efficiency in terms of energy and
space usage. The building has attained LEED Gold Precertification from USGBC
in the United States,” stated Nithipat Tongpun, Executive Director and Head
of Office Services at CBRE Thailand.
AIA Sathorn Tower will be a 28-storey grade A office development situated on
South Sathorn Road, at the corner of St. Louis Soi 3, and will offer 38,500
square metres of office space for rent with a slightly larger floor plate of
approximately 1,500 square metres. Designed with the same cutting-edge green
concept, this building also aims to obtain a LEED Gold certificate.
According to Nithipat, both developments will feature column-free designs
and the highest ceilings in the Bangkok office market, at 3 metres. This
unique ceiling height is perfect for tenants requiring raised floors.
“I think this is a perfect time to launch both the AIA Capital Center and
AIA Sathorn Tower as the Bangkok office market is now tightening, with very
limited supply, especially of grade A space. Moreover, I believe that the
AIA Capital Center will open up a new market for grade A office space
outside Bangkok’s central business district (CBD),” said the CBRE Director.
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Bangkok prime condominium market on the rise
The St. Regis in Bangkok
(center right) is one of a growing number of high-end luxury condominium
projects in the capital offering 5-star branded service and facilities.
Capitalising on Bangkok’s convenient mass transportation
systems, as well as the city’s renowned tradition of service and warm
hospitality, a number of ultra-luxurious condominiums have sprung up across
the Thai capital over the past year. Such prime condominiums usually feature
five-star service and are 30-90 year leasehold properties. Two such global
hospitality chains include Ritz Carlton and St. Regis, who have introduced
their exclusive brands to the local real estate market.
Thailand is considered to be one of the best places for foreigners to invest
in prime condominiums due to several factors, says property management and
consultancy firm Knight Frank Chartered (Thailand) Co., Ltd. First, the
upcoming opening of the ASEAN Community will create many business
opportunities in Bangkok, boosting demand for prime condos. Such properties
will experience limited growth for lack of suitable land at reasonable
prices, increasing the likelihood of higher prices (and investment returns)
for well-planned and unique projects.
At the same time, Bangkok property prices are still very attractive compared
to those of Hong Kong, Singapore, Shanghai, Jakarta, Kuala Lumpur and other
international cities. The metropolis also offers many comfortable lifestyle
options.
Frank Khan, Head of Residential Department at Knight Frank (Thailand),
revealed that although there will be very limited new developments in this
market owing to a lack of prime sites in the central business district area,
there will be the possibility of several new luxury projects that may enter
the market soon.
Prime real estate is seen as an inflation hedge and a safe harbour for a
growing number of high net worth individuals (HNWI). Demand for condominium
projects in this high-end sector of the market typically comes from HNWIs
and ultra high net worth individuals (UHNWI’s). Predominantly, they come to
Bangkok on a regular basis, either for business, leisure or both.
A majority of the primary target market (70%) is comprised of Hong Kong
Chinese, Hong Kong expats, Singaporean Chinese, Singaporean expats, mainland
Chinese, and well to do Russians. Secondary buyers (10%) are from Europe,
the Middle East, India, North America, Australia, Taiwan, and Korea. The
remaining (20%) are Thais and expatriates living in Bangkok already.
There is also a demand from corporations, such as Hong Kong-based companies
who buy high-end condominiums to accommodate their executives and partners
during business trips in Bangkok where they can enjoy five-star hotel
service.
According to HSBC Bank’s expat navigator dice data from a 2010 survey of
more than 4,000 expats across 25 countries who have already made the move,
Thailand ranks the first among countries offering the best experience for
expats, followed by Canada and Spain. Thailand also ranks number two among
the countries with the best work life balance; South Africa ranks at the top
and Spain ranks third.
Khan said that, in addition to their prime locations, the high standard of
service provided by the international hotel brands ensure the exclusivity
that these superb developments demand. The project must provide an extensive
range of services, amenities, and exclusive facilities for residents. Also,
to reach this world class standard, the luxury condominium unit is
meticulously designed with sophisticated fixtures and finishing,
complementing all the needs and comforts of contemporary city living.
In terms of size, prime condominium units are defined as 2 bedrooms to
penthouse and duplex units; 1 bedroom condos are not considered among this
grouping. Recently, the average selling price of Bangkok luxurious
condominium ranged from THB 225,000 to THB 320,000 per square metre, an
increase of about 4% from the year 2011, said Mr. Khan.
(Source - www.knightfrank.co.th)
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Hong Kong house prices exhibit second highest annual growth globally
According to international property consultant Knight
Frank’s latest Global House Price Index report for Q3 2012, house prices
around the world have risen on average by just 1% in the last 12 months.
However, Europe was the only world region to see prices decline in the last
year.
In Asia Pacific region, although price growth is slowing, the Hong Kong
house price index, with a 14.2% growth in the 12 months to September, is
second only to Brazil among 55 mainstream residential markets across the
world. Meanwhile, Hong Kong is one of the six markets which recorded
double-digit annual price growth in the year to September. The other five
markets are Brazil, Turkey, Russia, Colombia and Austria.
Thomas Lam, Director and Head of Research, Greater China at Knight Frank,
says, “In Hong Kong the government introduced a new Buyer’s Stamp Duty (BSD)
as well as extended and intensified the existing Special Stamp Duty (SSD) in
October 2012. The policies have dragged down transaction volumes but not
prices. Residential prices are set to remain stable in 2013, with mild
upward or downward movements of less than 5%.”
In mainland China the central government is expected to continue with its
determination to curb the residential property market. However, residential
transaction volumes are expected to continue to rebound due to strong
end-user demand.
“We expect home prices in first-tier cities to experience further growth by
less than 5% in 2013, while those in second and third-tier cities could be
under downward pressure,” said Lam.
Kate Everett-Allen of International Residential Research at Knight Frank
examined the latest data and came up with the following conclusions:
“Mainstream global property prices stand just 5.2% above the lows hit in the
wake of the financial crisis in Q2 2009, according to our latest index. As
such, they have underperformed prime global property prices by some margin.
Knight Frank’s Prime Global Cities Index shows that prime property values
have climbed by 18.7% over the same period.
“In Asia, policymakers are offering little hope of an Asian-driven recovery.
China’s new leadership looks set to continue with stringent property cooling
measures and new lending restrictions in Hong Kong are likely to limit the
availability of credit,” she said.
Looking to west, with the Eurozone now in its second recession in three
years, buyer confidence is at an all-time low and it is no coincidence that
all the bottom 12 rankings are occupied by European countries this quarter.
The Eurozone’s 17 member states have on average seen prices fall by 1.8% in
the 12 months to September, this compares to other world regions such as
South America and Asia Pacific which have seen growth of 9.8% and 4.2%
respectively.
Greece has now pushed Ireland off the bottom slot – where it has resided for
five consecutive quarters – by recording an average price fall of 11.7% in
the last year. Ireland, by comparison, has seen its rate of decline improve,
up from -14.3% a year ago to -9.6%.
With Europe stagnating, the mounting evidence of a US housing market
recovery in recent months led some to believe it could provide the
much-needed impetus for the global markets. Prices in the US are now 3.6%
higher than in the third quarter of 2011, vacancy rates are at their lowest
level since 2005 and housing starts are up 49% year-on-year. However, the US
fiscal cliff – the crunch point when tax benefits are due to end and
spending cuts commence at the end of 2012 – could extinguish this hope.
In summary says Everett-Allen, confidence, affordability and debt are
constraining Europe. Strict lending and the looming fiscal cliff may dent
the early signs of growth in the US while regulatory measures in Asia are
keeping housing markets in check. The current period of stagnation looks set
to continue well into 2013.
(Source - www.knightfrank.com.hk)
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Blue Sky group throws year-end thank you party
Thawatchai Sachdev, director of Blue Sky Group
Group.
The Blue Sky Group thanked customers and promoters for
the success of its two Pattaya resort-style condominium projects with a
year-end party.
Mayor Itthiphol Kunplome joined Blue Sky Director Thawatchai Sachdev at the
Centara Grand Mirage Beach Resort event Dec. 22. The “Into the Big Blue”
event saw the hotel ballroom changed into an “underwater world” theme and
featured musical entertainment and gift giveaways for guests.
Thawatchai said the party was organized to thank customers and the
politicians and media outlets that promoted the company’s Grande Caribbean
Condo Resort and Atlantis Condo Resort developments. He said sales at
Atlantis have reached 90 percent and 70 percent at Caribbean.
Entertainers from Thailand’s version of “The Voice” television contest
provided music while DJ Tuche closed the evening with dancing. Guests also
won numerous raffle prizes.
For more information on the company’s projects, got to:
http://blueskydevelopment.co.th.
(By Vittaya Yoondorn)
Fellow Blue Sky directors
enjoy the evening.
Guests view a scale model of
the Grande Caribbean Condo Resort.
Dancers perform during the
“Into the Big Blue” party night at Centara Grand Mirage Beach Resort.
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