Property News

Property Market Watch - Condos

It seems that all sources are currently in agreement that the segment of the condo market aimed at foreigners is in trouble but does this mean we will see falling prices and rental revenues? It is never that simple the sub 80,000 baht per sqm condo market is doing very well thank you and for good reason, with the a loss of confidence in the financial markets and savings deposit rates at rock bottom an investment in property is still looking like the best long term bet even if we don't see a return to the high yields of previous years it is still the only game in town for many Thai investors and savers

The worst affected seems to be the foreign market with many speculators looking to exit the market now that high yields are not expected to return for many years, this has led to some discounting on the perceived market pricing of up to 15% in some cases.

We have seen a similar trend in the rental segments with landlords more eager to attract renters with additional incentives or reductions in rental rates however because the market in general is buoyant these are in no way comparable to the reductions seen in the West.

Residential prices in Bangkok set to climb

As reported on the Bangkok Post website property consultancy Colliers International Thailand says prices of luxury residential units will increase by 5% to 15% and mass residential units by 5%. Even with the increase the residential market is forecast to remain positive this year.

Managing Director Patima Jeerapaet said Chinese and Indonesian investors are increasingly shifting their focus to Thailand from the Singaporean market, where prices are soaring. Colliers research found that the prices of luxury condominiums in Bangkok dropped by 10% last year, while mid-end condominium prices rose by 5%

Immigration Office Moves from Suan Plu

Immigration 1 Division (Bangkok Immigration Division)
Service for area in Bangkok as :
- Visa Extension
- Re-entry Permit
- Issue and change visa
- Resident permit
- Resident certificate
- Aliens Registration
- 90 Days Address report

Bangkok Immigration Division will be moved to Government Center, Chaengwattana Road Soi 7 (close to the Department of Consular Affairs, Ministry of Foreign Affairs, Chaengwattana Road.) on Monday 28th September 2009 (Except special labor of Laos, Cambodian and Myanmar nationalities service at old office)

Remarks : Only in case of visa issuing, visa extension and 90 days report for the special labor of 3 nationalities ( Laos, Cambodia, Mynmar ) is still be serviced at Immigration Bureau, Soi Suan Plu, Satorn, Bangkok

More details Call Center 1178