The events in Bangkok in May 2010 have actually increased concerns concerning the healing we were seeing in many sectors of the Thai home market in the first quarter of 2010.
However, it will take months to see what the impact will certainly get on sales as well as allowing quantities, rates and rents. We do not believe there will certainly be a sudden a dramatic descending activity in rates or rents.
The total supply of expatriate basic What’s on in Bangkok and around Thailand homes in downtown Bangkok boosted 2.3% year on year. Tenancy was 88.2%. Leas climbed in some locations such as Central Lumpini yet dropped in various other locations.
Regardless of the rise in the Bangkok resort supply, Bangkok tenancy prices and also REVPAR increased yet the Typical everyday rate reduced in quarter 1. International Visitor Arrivals boosted by 27.1% on Q1 2010. Undoubtedly Q2 numbers will certainly be extremely bad and also it stays to be seen for how long it will consider organization as well as traveler arrivals to recover.
Most of new condo launches in the initial quarter were mostly small one bed room units.
The office market remained weak. There was no increase in supply. Use up grew by 17,481 square metres. Quality A CBD rents fell by 3.8% year on year.
Retail Tenancy boosted to 93.4%. Leas stayed at similar degrees. A variety of mall were enclosed Central Bangkok for much of April and May.
882 Rai (349 acres) of SILPs were sold on commercial parks and estates in Q1 2010. This was a rise 891% y-o-y.
There was 175% boost in townhouse completions on quarter on quarter however programmer developed solitary removed house conclusions dropped by 74% quarter on quarter.
Condominium
The existing supply in midtown Bangkok got to 67,176 units, up from 65,067 devices in Q1 2010. This was an increase of 3.2% Q-o-Q and 15.8% Y-o-Y. There were 2,109 devices completed in this quarter. Another 5,220 devices are set up to be completed by the end of 2010 which will certainly raise the total downtown condominium stock significantly to 72,396 devices, or by 11.3 % Y-o-Y.
In Q1 2010, the typical asking cost for an off-plan property condominium unit (premium as well as above) in downtown Bangkok was 156,460 THB/m2 a rise of 19.2% Q-o-Q or 3.0 Y-o-Y.
The complete variety of units inhabited by proprietors or renters reduced from 74.2 in Q4 2009 to 74.0% in this quarter.