Weekly Thailand Property News July 3-7, 2023

Joint Venture Creates Two Landmark Cities in Khao Yai-Sriracha EEC Area

One Origin Public Company Limited (ONEO) and Asian Wellness Residence Co., Ltd., have joined forces to create two mixed-use cities in the Khao Yai-Sriracha EEC area. Combine investment value of over 1,422 million baht. Khao Yai-Sriracha EEC project aims to meet the growing demands of the Eastern Special Development Zone (EEC) and become a prominent landmark in the region. The development will include hotels, villas, and condominiums, combining the strengths and expertise of all four companies. Khao Yai will feature One Origin Khao Yai Well-Being City, focusing on upscale hotels and integrating nature with world-class design and leisure programs. Sriracha will have a Japanese-style serviced apartment managed by a renowned chain. This joint venture signifies Asian Sea Corporation Public Company Limited's (ASIAN) entry into the real estate industry and is driven by the region's growth potential. Britannia Public Company Limited (BRI) will oversee luxury villa projects, while Origin EEC Company Limited will develop condominium projects in both locations.

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

Ratchaphruek Emerges as Prime Location for Low-Rise Housing Development in Bangkok's West

Ratchaphruek is attracting developers interested in investing in low-rise housing that caters to all age groups. Its strategic position, connected to four electric train lines with a focus on the Purple Line, sparked a surge in housing demand in the western outskirts of Bangkok. The strategic location of Ratchaphruek enables easy access to major roads like Ratchaphruek Road and Borommaratchachonnani Road, as well as excellent connectivity to the city center, such as the Siam area. The area boasts a wide range of lifestyle amenities, including Crystal SB Ratchaphruek, The Walk Ratchaphruek, Central Plaza Pinklao, Denla Rama V School, and Bang Kruai Hospital. The concept of a "Stay-at-home Economy" (cause) has increased the demand for homes that accommodate work and leisure activities, making residential projects in the Ratchaphruek area priced below 10 million baht (effect) particularly appealing to buyers seeking homes near transportation hubs. Ratchaphruek presents an attractive investment opportunity for real estate developers in the thriving market of low-rise housing development.

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

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

The first five months of 2023 witnessed a 14% drop in Newly launched residential projects in the Bangkok-perimeter region compared to the same period in 2022. While condominium project launches declined, the market for low-rise housing, particularly above 10 million baht, continued to flourish. The overall value of new project launches increased by 3%, reaching 149,217 million baht. However, the sales rate on launch day decreased. The development of transportation networks, including electric train lines and roads, fueled the demand for low-rise housing near convenient transportation routes. Despite a recovering Thai economy, challenges such as high household debt and rising interest rates impact the real estate sector. Developers are adapting their strategies, exploring partnerships with non-bank financial institutions to facilitate housing loans and mitigate credit rejections.

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

Chinese Capital's Secret Investments: Dominating Thailand's Condo Market Targeting Chinese Buyers"

Chinese capital groups continue investing in Thailand's condo market for over 14 years, targeting Chinese customers. They have avoided joint ventures with Thai companies, preferring to be the main executives. The strategy involves selling to Chinese buyers using the full 49% foreign ownership quota, while the remaining 51% is intended for Thai customers. Chinese investors primarily concentrate on the mass market segment priced at 80,000 baht per square meter along the BTS line. As well as high-end properties in Sukhumvit and Phuket priced between 1.6 and 2 hundred thousand baht per square meter. They anticipate further investments in Bangkok-Phuket-Pattaya after the economic recovery. Chinese venture capital firms invest in various forms, including condos, low-rise houses, and mixed-use projects. The upcoming years may see increases in Chinese investments in locations such as Phuket and Pattaya, once the COVID situation subsides.

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

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 experiencing a surge in sales, indicating a recovering trend. The growth attributes to the return of foreign tourists, boosting the country's industrial sector and export activities. This positive market condition prompted Supalai Public Company Limited to capitalize on the opportunity and launch new projects in 28 provinces across the country. In Chonburi Province, where the real estate market has been expanding since mid-2022, Supalai achieved remarkable sales of over 2,000 million baht, making it the top performer for the fifth consecutive year. Recently, they unveiled the luxurious "Supalai Essence Ang Sila" project, featuring single-detached houses, twin houses, and modern townhomes with eco-friendly features such as EV chargers and solar roofs. With a pre-launch sales value of over 150 million baht, the project has garnered significant interest ahead of its official launch in July.

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

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