THE NATION Issued date 16 November 2011
Early Sukhumvit remains the most popular venue.
More than 800 new serviced apartment units are scheduled to be completed in the fourth quarter of this year and early Sukhumvit retains the vast priority of the new supply, while Central Lumpini has also become a preferred location to live in, with a surge in more Grade A units being built.
According to Colliers International Thailand, approximately 200 units have been completed and are already occupied, out of the nearly 1,000 units that are scheduled to be completed in 2011. Sukhumvit Road still retains its mantle as the most popular location for serviced apartments, mainly due to the fact that more than 70 per cent of total units scheduled for completion in Q4-2011, will be located along the initial stretch of this road.
Total supply of serviced apartment units, for the end of 2011, is expected to be approximately 17,860.
Distribution of serviced apartments differs according to location, based on the particular profile of each area. Central Lumpini, for example, contains many large embassies and is therefore seen as being the most prestigious location to live in and, as such, contains more grafe A units. Late Sukhumvit also contains more grade A units, due to the existence of a number of luxury branded aprtments in Thong Lor Road, catering to the large Japanese expatriate community there. However, early Sukhumvit remains the preferred choice for grade B apartments, as it is a more unpretentious and relaxed location, which also explains the location of more Up-Scale, rather than Luxury hotels. 'Other' areas contain more grade C products, mainly due to their distance from the centre.
More than 800 units are scheduled to be completed in Q4-2011. Sukhumvit Road, alone, will host the vast majority of a new supply this year. More than 75 per cent of the new units scheduled to be completed in 2011 are located on Sulhumvit Road, with nearly 80 units also scheduled for completion in 2012 in the Sukhumvit area. The main driver is not only the popularity of this road as a residential destination, but also the fact that the relative land price is lower than more central locations and it is also convenient for the BTS line.
The addition of new retail centres, such as "Terminal 21", will add to the appeal of this road to both tourists and expatriates alike. Average occupancy rates in Q3-2011 have increased from the previous quarter and compares favourably with the same quarter last year. However, last year was a troubled one for the sector, mainly due to the political upheavals.
Occupancy rates in all location increased deom the previous quarter, especially in Central CBD and Central Lumpini, which increased approximately 9-11 per cent, mainly due to a reduction in rental rates.
Growth in occupancy was partially fuelled by a small fall in rental rates overall and the addition of significant new supplies in Q4-2011 are more than likely to lead to a weakening of the sector, after bouncing back strongly after Q2-2011. Although the political situation has stabilized for the short and medium term, growing concerns regarding the global financial situation, as well as the short term impact of massive flooding throughout Thailand, could lead to a more difficult period for the serviced apartment sector.
Meanwhile, Patima Jeerapaet, managing director, Colliers, said that for the remainder of the quarter, residential launches are most likely to remain subdued, due to the current sentiment and logistics. However, unlike the post May 17, 2010 situation, when buyers jumped straight into the market, many will now probably be more cautions about making a big decision on property purchases, until ongoing events have ended and an analysis of the flood situation is undertaken.
The decision on whether to purchase landed property, versus a high-rise condominium unit, will most probably find favour in the latter, due to the recent floods experience, but people will, nevertheless, continue to evaluate areas that are less prone to floods.
"Even if your high-rise home is protected you still don't want the area around it inunfdated with floodwater for weeks", pointed out Jeerapaet. However, long delays in buyers coming back to the market will result in a pent-up demand, very likely to increase until, eventually, a significant number of launches will take place.
According to Tony Picon, Associate Director at Colliers, condominiums will become even more popular than they were before the floods. In the aftermath of the floods, many who were forced to evacuate to relief centres may now rethink their options. "You may now find families encouraging one of their number to purchase a condominium unit, even helping with the financing, as it would then function as a back-up residence for the family in the event of a recurrence".
At the high-income end of the market the same reasoning could add to the trend for purchasing second homes in resorts, such as Hua Hin, or Pattaya. "Many fled to these resorts during the flood inundation, especially people who didn't need to work in Bangkok, or children and the elderly", said Monchai Orawongpaisan, senior manager for residential project sales and marketing. Family pressure could therefore result in more property being purchased, not only as a weekend retreat, but also as a back-up residence in emergencies.
"We could see significant activity in the market during the first half of next year, based on this trend, Hua Hin, Pattaya and other nearby resorts", he added.
Although high-rise accommodation will continue to prove more popular, it is considered that landed property will still retain a strong presence in the city. Dire warnings of global warming leading to more regular flooding problems, including flash floods from heavy downpours, may lead to a future trend of simply opting for houses on stilts, which reflect a common mode of living in the past that catered to the possibility of flooding.
Picon pointed out that the problem for buyers of finding suitable locations relatively safe from future floods, is that effects can vary, based on a number of factors, as we have witnessed during the latest situation.
Sunday 20 November 2011
Bargains ample post-floods
BANGKOK POST Issued date 15 November 2011
KANANA KATHARANGSIPORN
PROPERTY
Prices of land an other property in flooded areas will drop in the next couple of years, while home purchasing sentiment will take at least six months to return to normal, says the property consultant Colliers International Thailand.
Managing director Patima Jeerapaet said the next two or three years will be a golden opportunity for property developers to buy up land in flooded areas at bargain prices.
However, there may not be any large migrations of residents from the flooded areas, as Thais usually like to stick with familiar locations and will forget about the flooding in the next couple of years,he told a media conference on the postflood Bangkok real estate market yesterday.
"Homebuyers will wait and see the situation after the floods and delay making a decision. Housing sentiment will resume towards the middle of next year at the earliest. Housing developers will delay launching new projects," he said.
While new low-rise launches will be postponed, inner-city condominiums,especially near mass transit, will continue to enjoy healthy sales.
After the floods, the protection paradigm will change. Individuals will raise up land levels and erect water barrier fences.
Drainage systems will be improved,water storage tanks installed and electrical sockets moved up."The popularity of single houses and townhouses will stay the same. But their design may change to that of high-rise developments,with parking on the ground and the living area including the electricity system starting from the second floor," he aid.
He said an initiative by many condo developers to have fewer parking slots in new residential high-rises should be scrapped, as car parks in such buildings are crucial for keeping residents' vehicles safe from floodwater.
KANANA KATHARANGSIPORN
PROPERTY
Prices of land an other property in flooded areas will drop in the next couple of years, while home purchasing sentiment will take at least six months to return to normal, says the property consultant Colliers International Thailand.
Managing director Patima Jeerapaet said the next two or three years will be a golden opportunity for property developers to buy up land in flooded areas at bargain prices.
However, there may not be any large migrations of residents from the flooded areas, as Thais usually like to stick with familiar locations and will forget about the flooding in the next couple of years,he told a media conference on the postflood Bangkok real estate market yesterday.
"Homebuyers will wait and see the situation after the floods and delay making a decision. Housing sentiment will resume towards the middle of next year at the earliest. Housing developers will delay launching new projects," he said.
While new low-rise launches will be postponed, inner-city condominiums,especially near mass transit, will continue to enjoy healthy sales.
After the floods, the protection paradigm will change. Individuals will raise up land levels and erect water barrier fences.
Drainage systems will be improved,water storage tanks installed and electrical sockets moved up."The popularity of single houses and townhouses will stay the same. But their design may change to that of high-rise developments,with parking on the ground and the living area including the electricity system starting from the second floor," he aid.
He said an initiative by many condo developers to have fewer parking slots in new residential high-rises should be scrapped, as car parks in such buildings are crucial for keeping residents' vehicles safe from floodwater.
น้ำท่วมทำพิษ นิคมอุตสาหกรรมเสียหายหลายร้อยเท่า
มากกว่า 59 จังหวัดที่ประสบปัญหาน้ำท่วมไม่เพียงแต่พื้นที่การเกษตรเท่านั้นที่เสียหาย แต่ยังทำความเสียหายอย่างรุนแรงไปถึงนิคมอุตสาหกรรมในภาคกลางอีกหลายแห่ง และส่งให้เกิดการหยุดชะงักของระบบบการขนส่งสินค้า, จากคำกล่าวของ คอลลิเออร์ส อินเตอร์เนชั่นแนล ประเทศไทย
เมื่อน้ำท่วมในหลายพื้นที่ของประเทศไทยตั้งแต่เดือนสิงหาคม และส่งผลกระทบต่ออุตสาหกรรมการผลิตไม่มากนัก เนื่องจากโรงงานส่วนใหญ่ตั้งอยู่ห่างจากพื้นที่น้ำท่วม แต่เมื่อระดับเริ่มเพิ่มสูงขึ้นจนเกินกว่าแนวป้องกัน และมากกว่าที่เกิดขึ้นในจังหวัดอยุธยาในวันที่ 5 ตุลาคม ซึ่งเป็นฐานการผลิตใหญ่ และส่งผลกระทบรุนแรง, จากคำพูดของ นางสาวนฤมล โรจน์สิรวรพัฒน์ ผู้จัดการอาวุโสฝ่ายบริการอุตสาหกรรม คอลลิเออร์ส อินเตอร์เนชั่นแนล ประเทศไทย มีความแตกต่างกันอย่างมากมายมหาศาลของความเสียหายที่เกิดขึ้นในช่วงไม่กี่วันนี้กับหลายเดือนก่อนหน้า “ความสูญเสียในภาคอุตสาหกรรมเพิ่มขึ้นมากกว่า 100 เท่า ตั้งแต่วันที่ 5 ตุลาคมที่ผ่านมา เนื่องจากนิคมอุตสาหกรรม 2 แห่งโดนน้ำท่วม ส่วนอีก 2 แห่งยังคงอยู่ระหว่างการเฝ้าระวัง” นางสาวนฤมล กล่าว
โกดังสินค้าและศูนย์กระจายสินค้าจำนวนมากได้รับผลกระทบจากน้ำท่วม โดยเฉพาะที่ตั้งอยู่ที่จังหวัดอยุธยาและบนถนนพหลโยธินที่ปัจจุบันถูกน้ำท่วมบางช่วง ซึ่งสถานการณ์ยังคงอยู่ในขั้นวิกฤตเนื่องจากมีฝนตกอย่างต่อเนื่องช่วงสัปดาห์ที่ผ่านมารวมทั้งปริมาณน้ำจำนวนมหาศาลกำลังไหลลงมายังจังหวัดภาคกลางตอนล่าง ดังนั้นนิคมอุตสาหกรรมต่างๆ ในจังหวัดปทุมธานี และกรุงเทพมหานคร กำลังอยู่ในอันตราย
นางสาว นฤมล ยังกล่าวอีกว่า มากกว่า 500 โรงงานต้องปิดตัวลงในช่วงนี้ และคนงานมากกว่า 100,000 คนต้องตกงาน “ความเสียหายจากน้ำท่วมน่าจะใช้เวลา 2 – 3 เดือนหลังจากน้ำลดในการแก้ปัญหาต่างๆ เพราะบริษัทต่างๆ ต้องใช้เวลาในการปรับปรุง ซ่อมแซม อาคาร และเครื่องจักร ”
ภาคอุตสาหกรรมฟื้นตัวขึ้นอย่างรวดเร็วจากปี 2553 และเกิดการขาดแคลนพื้นที่โกดังสินค้าในบางพื้นที่ โดยเฉพาะโกดังขนาดใหญ่และมีมาตรฐานดี ในอยุธยา และบางพื้นที่บนถนนบางนา – ตราด และแหลมฉบังซึ่งเป็นที่ต้องการอย่างมากในขณะที่อุปทานมีอยู่จำกัด “ผู้ประกอบการควรเข้าใจถึงความต้องการของผู้เช่าที่คำนึงถึงมาตรฐานของอาคาร ทำเล รูปแบบอาคาร และพื้นที่นั้นๆ เป็นพื้นที่ปลอดภาษีหรือพื้นที่ธรรมดาทั่วไป เป็นต้น และพวกเราหวังว่าโกดังสินค้าใหม่ทีจะเกิดขึ้นในอนาคตควรจะเป็น raised floor ทั้งหมด” นางสาว นฤมล กล่าวเพิ่มเติม
ถึงแม้ว่าปฏิกริยาหลังจากน้ำท่วมอาจมีการย้ายฐานการผลิตบ้าง แต่ในภาคอุตสาหกรรมการผลิดของประเทศไทยยังคงสดใส นาย ปฏิมา จีระแพทย์ กรรมการผู้จัดการ ของคอลลิเออร์ส กล่าวว่า “นักลงทุนจำนวนมากลงทุนเป็นเงินจำนวนมหาศาล และเป็นระยะเวลานานแล้ว และพวกเขาไม่สามารถที่จะย้ายไปที่อื่นได้” “และยังต้องใช้เวลาในการสร้างเครือข่ายด้วย” เขากล่าวเพิ่มเติม นาย ปฏิมายังให้ความเห็นเพิ่มเติมว่า ความเสียหายไม่ได้เกิดขึ้นที่ประเทศไทยเท่านั้น แต่น้ำท่วมส่งผลกระทบต่อ กัมพูชา ฟิลิปปินส์ และลาว “ประเทศไทยยังคงเป็นตัวเลือกที่ดีที่สุดในการเป็นฐานการผลิต เมื่อพิจารณาถึงปัจจัยอื่นๆ เช่น ระบบสาธารณูปโภคที่สามารถรับมือกับน้ำท่วมได้ เมื่อเปรียบเทียบกับ เวียดนาม และกัมพูชา” นาย ปฏิมา กล่าว
ความเป็นไปได้อีกอย่างหนึ่งคือการสร้างโกดังสินค้าสำรองในพื้นที่ที่น้ำท่วมไม่ถึง “ภายหลังจากเหตุการณ์รุนแรงในพื้นที่ธุรกิจในกลางกรุงเทพมหานครเมื่อปีที่ผ่านมา ผู้เช่าในอาคารสำนักงานต่างเริ่มมองหาสำนักงานสำรองในทำเลอื่น และน่าจะเกิดขึ้นในภาคอุตสาหกรรมด้วยเช่นกัน” นายปฏิมา กล่าว อย่างไรก็ตามการประเมินความเสียหายจากน้ำท่วมน่าจะใช้เวลาเป็นสัปดาห์หรือมากกว่านั้น “พวกเราคาดหวังว่าความเสียหายจะไม่มากจนเกินไป” นาย ปฏิมา กล่าวเพิ่มเติม
เมื่อน้ำท่วมในหลายพื้นที่ของประเทศไทยตั้งแต่เดือนสิงหาคม และส่งผลกระทบต่ออุตสาหกรรมการผลิตไม่มากนัก เนื่องจากโรงงานส่วนใหญ่ตั้งอยู่ห่างจากพื้นที่น้ำท่วม แต่เมื่อระดับเริ่มเพิ่มสูงขึ้นจนเกินกว่าแนวป้องกัน และมากกว่าที่เกิดขึ้นในจังหวัดอยุธยาในวันที่ 5 ตุลาคม ซึ่งเป็นฐานการผลิตใหญ่ และส่งผลกระทบรุนแรง, จากคำพูดของ นางสาวนฤมล โรจน์สิรวรพัฒน์ ผู้จัดการอาวุโสฝ่ายบริการอุตสาหกรรม คอลลิเออร์ส อินเตอร์เนชั่นแนล ประเทศไทย มีความแตกต่างกันอย่างมากมายมหาศาลของความเสียหายที่เกิดขึ้นในช่วงไม่กี่วันนี้กับหลายเดือนก่อนหน้า “ความสูญเสียในภาคอุตสาหกรรมเพิ่มขึ้นมากกว่า 100 เท่า ตั้งแต่วันที่ 5 ตุลาคมที่ผ่านมา เนื่องจากนิคมอุตสาหกรรม 2 แห่งโดนน้ำท่วม ส่วนอีก 2 แห่งยังคงอยู่ระหว่างการเฝ้าระวัง” นางสาวนฤมล กล่าว
โกดังสินค้าและศูนย์กระจายสินค้าจำนวนมากได้รับผลกระทบจากน้ำท่วม โดยเฉพาะที่ตั้งอยู่ที่จังหวัดอยุธยาและบนถนนพหลโยธินที่ปัจจุบันถูกน้ำท่วมบางช่วง ซึ่งสถานการณ์ยังคงอยู่ในขั้นวิกฤตเนื่องจากมีฝนตกอย่างต่อเนื่องช่วงสัปดาห์ที่ผ่านมารวมทั้งปริมาณน้ำจำนวนมหาศาลกำลังไหลลงมายังจังหวัดภาคกลางตอนล่าง ดังนั้นนิคมอุตสาหกรรมต่างๆ ในจังหวัดปทุมธานี และกรุงเทพมหานคร กำลังอยู่ในอันตราย
นางสาว นฤมล ยังกล่าวอีกว่า มากกว่า 500 โรงงานต้องปิดตัวลงในช่วงนี้ และคนงานมากกว่า 100,000 คนต้องตกงาน “ความเสียหายจากน้ำท่วมน่าจะใช้เวลา 2 – 3 เดือนหลังจากน้ำลดในการแก้ปัญหาต่างๆ เพราะบริษัทต่างๆ ต้องใช้เวลาในการปรับปรุง ซ่อมแซม อาคาร และเครื่องจักร ”
ภาคอุตสาหกรรมฟื้นตัวขึ้นอย่างรวดเร็วจากปี 2553 และเกิดการขาดแคลนพื้นที่โกดังสินค้าในบางพื้นที่ โดยเฉพาะโกดังขนาดใหญ่และมีมาตรฐานดี ในอยุธยา และบางพื้นที่บนถนนบางนา – ตราด และแหลมฉบังซึ่งเป็นที่ต้องการอย่างมากในขณะที่อุปทานมีอยู่จำกัด “ผู้ประกอบการควรเข้าใจถึงความต้องการของผู้เช่าที่คำนึงถึงมาตรฐานของอาคาร ทำเล รูปแบบอาคาร และพื้นที่นั้นๆ เป็นพื้นที่ปลอดภาษีหรือพื้นที่ธรรมดาทั่วไป เป็นต้น และพวกเราหวังว่าโกดังสินค้าใหม่ทีจะเกิดขึ้นในอนาคตควรจะเป็น raised floor ทั้งหมด” นางสาว นฤมล กล่าวเพิ่มเติม
ถึงแม้ว่าปฏิกริยาหลังจากน้ำท่วมอาจมีการย้ายฐานการผลิตบ้าง แต่ในภาคอุตสาหกรรมการผลิดของประเทศไทยยังคงสดใส นาย ปฏิมา จีระแพทย์ กรรมการผู้จัดการ ของคอลลิเออร์ส กล่าวว่า “นักลงทุนจำนวนมากลงทุนเป็นเงินจำนวนมหาศาล และเป็นระยะเวลานานแล้ว และพวกเขาไม่สามารถที่จะย้ายไปที่อื่นได้” “และยังต้องใช้เวลาในการสร้างเครือข่ายด้วย” เขากล่าวเพิ่มเติม นาย ปฏิมายังให้ความเห็นเพิ่มเติมว่า ความเสียหายไม่ได้เกิดขึ้นที่ประเทศไทยเท่านั้น แต่น้ำท่วมส่งผลกระทบต่อ กัมพูชา ฟิลิปปินส์ และลาว “ประเทศไทยยังคงเป็นตัวเลือกที่ดีที่สุดในการเป็นฐานการผลิต เมื่อพิจารณาถึงปัจจัยอื่นๆ เช่น ระบบสาธารณูปโภคที่สามารถรับมือกับน้ำท่วมได้ เมื่อเปรียบเทียบกับ เวียดนาม และกัมพูชา” นาย ปฏิมา กล่าว
ความเป็นไปได้อีกอย่างหนึ่งคือการสร้างโกดังสินค้าสำรองในพื้นที่ที่น้ำท่วมไม่ถึง “ภายหลังจากเหตุการณ์รุนแรงในพื้นที่ธุรกิจในกลางกรุงเทพมหานครเมื่อปีที่ผ่านมา ผู้เช่าในอาคารสำนักงานต่างเริ่มมองหาสำนักงานสำรองในทำเลอื่น และน่าจะเกิดขึ้นในภาคอุตสาหกรรมด้วยเช่นกัน” นายปฏิมา กล่าว อย่างไรก็ตามการประเมินความเสียหายจากน้ำท่วมน่าจะใช้เวลาเป็นสัปดาห์หรือมากกว่านั้น “พวกเราคาดหวังว่าความเสียหายจะไม่มากจนเกินไป” นาย ปฏิมา กล่าวเพิ่มเติม
Cost multiplying for industrial market due to floods
The ongoing floods that have affected more than 59 provinces in Thailand have devastated huge swathes of agricultural land but the extremity of the floods have put more damaged industrial activity, including industrial estates and further potential flooding threatens more central locations causing greater disruptions to the supply chain, according to Colliers International Thailand.
While the floods have ravaged many parts of Thailand since August, relatively little damage to manufacturing was inflicted due to most factories being located away from initial flooding areas. However this changed on October 5th when water levels reached their highest point in living memory and Ayutthaya, home to significant manufacturing, was seriously affected. According to Narumon Rodsiravoraphat, Senior Manager for Industrial Services at Colliers, far greater damage was caused to industry in the last few days compared to the previous few months. "Over a hundred times greater financial loss to industry was incurred since 5th October due to severe damage to two industrial estates and two others have been evacuated in anticipation of flood waters reaching them", said Narumon.
Many warehouses and distribution centres have been seriously affected especially in Ayutthaya area and along the main highway of Phahonyothin road which has become effectively the channel for water in the north to flow down to the central provinces. Over the course of the week further flooding is expected due to looming storms and industrial facilities in Pathumthani and Bangkok itself are now in danger.
According to Narumon, more than 500 factories have been forced to close during this situation and more than 100,000 workers have been affected from this crisis. "The damage from the flooding may be take up to two to three months to be accessed and rectified after the water level decreases as companies must take time for renovation of facilities as well as repair and re-operation of machinery", she added.
The industrial market has picked up rapidly from 2010 and there has already been a shortage of warehouse space in some locations, especially good quality large space in Ayutthaya and some Bangna areas. Lamchabang, where there is strong demand for free zones, also seems short of supply. "Developers should understand more of the market demands and requirements in terms of specification, locations, layout, and general/free trade zones, etc. And we do hope that all new warehouse developments will all be raised floor", said Narumon.
Although the initial reaction after the flood will be for the relocation of manufacturing, in reality manufacturers will remain rather sanguine according to Patima Jeerapaet, Managing Director of Colliers. "Many have invested significant amounts of money over time and they are just not going to walk away", he said. "It also takes time to create a supplier network as well" he added. Patima also noted that serious damage was not limited to Thailand and the horrors of the flood are also evident in Cambodia, Philippines and Laos. "Manufacturers will be wary of relocating to countries with less reliable infrastructure to cope with floods and they may decide that Thailand is a better location than say Vietnam or Cambodia due to this fact. However new investment for manufacturing locations may be shifted towards non flooding areas in Thailand. All factories, distribution centers, and logistics companies also must create and work out their contingency plan well enough in advance”, said Patima.
One possible ramification could be the development of back up storage centres in locations upon higher ground that can protect goods from damage. "After the riots in 2010 many office occupiers considered back up locations and the same may now apply for industrial activity", said Patima. However, unfortunately the flooding story has not run its course and a better assessment can be made in a week or so time. "We only hope that further damage is kept to a minimum"' added Patima.
While the floods have ravaged many parts of Thailand since August, relatively little damage to manufacturing was inflicted due to most factories being located away from initial flooding areas. However this changed on October 5th when water levels reached their highest point in living memory and Ayutthaya, home to significant manufacturing, was seriously affected. According to Narumon Rodsiravoraphat, Senior Manager for Industrial Services at Colliers, far greater damage was caused to industry in the last few days compared to the previous few months. "Over a hundred times greater financial loss to industry was incurred since 5th October due to severe damage to two industrial estates and two others have been evacuated in anticipation of flood waters reaching them", said Narumon.
Many warehouses and distribution centres have been seriously affected especially in Ayutthaya area and along the main highway of Phahonyothin road which has become effectively the channel for water in the north to flow down to the central provinces. Over the course of the week further flooding is expected due to looming storms and industrial facilities in Pathumthani and Bangkok itself are now in danger.
According to Narumon, more than 500 factories have been forced to close during this situation and more than 100,000 workers have been affected from this crisis. "The damage from the flooding may be take up to two to three months to be accessed and rectified after the water level decreases as companies must take time for renovation of facilities as well as repair and re-operation of machinery", she added.
The industrial market has picked up rapidly from 2010 and there has already been a shortage of warehouse space in some locations, especially good quality large space in Ayutthaya and some Bangna areas. Lamchabang, where there is strong demand for free zones, also seems short of supply. "Developers should understand more of the market demands and requirements in terms of specification, locations, layout, and general/free trade zones, etc. And we do hope that all new warehouse developments will all be raised floor", said Narumon.
Although the initial reaction after the flood will be for the relocation of manufacturing, in reality manufacturers will remain rather sanguine according to Patima Jeerapaet, Managing Director of Colliers. "Many have invested significant amounts of money over time and they are just not going to walk away", he said. "It also takes time to create a supplier network as well" he added. Patima also noted that serious damage was not limited to Thailand and the horrors of the flood are also evident in Cambodia, Philippines and Laos. "Manufacturers will be wary of relocating to countries with less reliable infrastructure to cope with floods and they may decide that Thailand is a better location than say Vietnam or Cambodia due to this fact. However new investment for manufacturing locations may be shifted towards non flooding areas in Thailand. All factories, distribution centers, and logistics companies also must create and work out their contingency plan well enough in advance”, said Patima.
One possible ramification could be the development of back up storage centres in locations upon higher ground that can protect goods from damage. "After the riots in 2010 many office occupiers considered back up locations and the same may now apply for industrial activity", said Patima. However, unfortunately the flooding story has not run its course and a better assessment can be made in a week or so time. "We only hope that further damage is kept to a minimum"' added Patima.
Cost multiplying for industrial market due to floods
The ongoing floods that have affected more than 59 provinces in Thailand have devastated huge swathes of agricultural land but the extremity of the floods have put more damaged industrial activity, including industrial estates and further potential flooding threatens more central locations causing greater disruptions to the supply chain, according to Colliers International Thailand.
While the floods have ravaged many parts of Thailand since August, relatively little damage to manufacturing was inflicted due to most factories being located away from initial flooding areas. However this changed on October 5th when water levels reached their highest point in living memory and Ayutthaya, home to significant manufacturing, was seriously affected. According to Narumon Rodsiravoraphat, Senior Manager for Industrial Services at Colliers, far greater damage was caused to industry in the last few days compared to the previous few months. "Over a hundred times greater financial loss to industry was incurred since 5th October due to severe damage to two industrial estates and two others have been evacuated in anticipation of flood waters reaching them", said Narumon.
Many warehouses and distribution centres have been seriously affected especially in Ayutthaya area and along the main highway of Phahonyothin road which has become effectively the channel for water in the north to flow down to the central provinces. Over the course of the week further flooding is expected due to looming storms and industrial facilities in Pathumthani and Bangkok itself are now in danger.
According to Narumon, more than 500 factories have been forced to close during this situation and more than 100,000 workers have been affected from this crisis. "The damage from the flooding may be take up to two to three months to be accessed and rectified after the water level decreases as companies must take time for renovation of facilities as well as repair and re-operation of machinery", she added.
The industrial market has picked up rapidly from 2010 and there has already been a shortage of warehouse space in some locations, especially good quality large space in Ayutthaya and some Bangna areas. Lamchabang, where there is strong demand for free zones, also seems short of supply. "Developers should understand more of the market demands and requirements in terms of specification, locations, layout, and general/free trade zones, etc. And we do hope that all new warehouse developments will all be raised floor", said Narumon.
Although the initial reaction after the flood will be for the relocation of manufacturing, in reality manufacturers will remain rather sanguine according to Patima Jeerapaet, Managing Director of Colliers. "Many have invested significant amounts of money over time and they are just not going to walk away", he said. "It also takes time to create a supplier network as well" he added. Patima also noted that serious damage was not limited to Thailand and the horrors of the flood are also evident in Cambodia, Philippines and Laos. "Manufacturers will be wary of relocating to countries with less reliable infrastructure to cope with floods and they may decide that Thailand is a better location than say Vietnam or Cambodia due to this fact. However new investment for manufacturing locations may be shifted towards non flooding areas in Thailand. All factories, distribution centers, and logistics companies also must create and work out their contingency plan well enough in advance”, said Patima.
One possible ramification could be the development of back up storage centres in locations upon higher ground that can protect goods from damage. "After the riots in 2010 many office occupiers considered back up locations and the same may now apply for industrial activity", said Patima. However, unfortunately the flooding story has not run its course and a better assessment can be made in a week or so time. "We only hope that further damage is kept to a minimum"' added Patima.
While the floods have ravaged many parts of Thailand since August, relatively little damage to manufacturing was inflicted due to most factories being located away from initial flooding areas. However this changed on October 5th when water levels reached their highest point in living memory and Ayutthaya, home to significant manufacturing, was seriously affected. According to Narumon Rodsiravoraphat, Senior Manager for Industrial Services at Colliers, far greater damage was caused to industry in the last few days compared to the previous few months. "Over a hundred times greater financial loss to industry was incurred since 5th October due to severe damage to two industrial estates and two others have been evacuated in anticipation of flood waters reaching them", said Narumon.
Many warehouses and distribution centres have been seriously affected especially in Ayutthaya area and along the main highway of Phahonyothin road which has become effectively the channel for water in the north to flow down to the central provinces. Over the course of the week further flooding is expected due to looming storms and industrial facilities in Pathumthani and Bangkok itself are now in danger.
According to Narumon, more than 500 factories have been forced to close during this situation and more than 100,000 workers have been affected from this crisis. "The damage from the flooding may be take up to two to three months to be accessed and rectified after the water level decreases as companies must take time for renovation of facilities as well as repair and re-operation of machinery", she added.
The industrial market has picked up rapidly from 2010 and there has already been a shortage of warehouse space in some locations, especially good quality large space in Ayutthaya and some Bangna areas. Lamchabang, where there is strong demand for free zones, also seems short of supply. "Developers should understand more of the market demands and requirements in terms of specification, locations, layout, and general/free trade zones, etc. And we do hope that all new warehouse developments will all be raised floor", said Narumon.
Although the initial reaction after the flood will be for the relocation of manufacturing, in reality manufacturers will remain rather sanguine according to Patima Jeerapaet, Managing Director of Colliers. "Many have invested significant amounts of money over time and they are just not going to walk away", he said. "It also takes time to create a supplier network as well" he added. Patima also noted that serious damage was not limited to Thailand and the horrors of the flood are also evident in Cambodia, Philippines and Laos. "Manufacturers will be wary of relocating to countries with less reliable infrastructure to cope with floods and they may decide that Thailand is a better location than say Vietnam or Cambodia due to this fact. However new investment for manufacturing locations may be shifted towards non flooding areas in Thailand. All factories, distribution centers, and logistics companies also must create and work out their contingency plan well enough in advance”, said Patima.
One possible ramification could be the development of back up storage centres in locations upon higher ground that can protect goods from damage. "After the riots in 2010 many office occupiers considered back up locations and the same may now apply for industrial activity", said Patima. However, unfortunately the flooding story has not run its course and a better assessment can be made in a week or so time. "We only hope that further damage is kept to a minimum"' added Patima.
Residential market likely to remain uncertain for sometime after the floods
With the ever growing inundation of Bangkok and exhausting uncertainties regarding the potential flooding situation in the centre of the city; even in the best case scenario the pattern for the residential market will be difficult to assess even after the floods have receded, according to real estate company Colliers International Thailand. For the rest of the quarter residential launches are very likely to remain subdued due to current sentiment and logistics. However unlike the post May 17 2010 situation, when buyers jumped straight into the market, many will probably be cautious about making such a big decision as a property purchase until the ongoing events have ended and an analysis of the flood is undertaken, according to Patima Jeerapaet, Managing Director of Colliers. "The full story will need to be known before buyers come rushing in again and developers will also need to reevaluate projects", he said.
The decision as to whether to purchase landed property versus a high-rise condominium will likely be in favour of the latter due to the floods but even then people will evaluate which areas are less prone to floods. "Even if your high-rise home is protected you still don't want the area inundated with flood water for weeks", pointed out Mr Jeerapaet. However long the delays in buyers coming back in the market the pent up demand is likely to increase and eventually a significant number of launches will take place. According to Tony Picon, Associate Director at Colliers, condominiums will be even more popular than they were before the floods. "We are noticing that more older people and children are staying in condominiums at the moment and the reason is that the owners are using units as temporary accommodation for their extended families", he said. In the aftermath of the floods many who were forced to evacuate to centres may rethink their options. "You could find families encouraging one of their number to purchase a condominium unit and even help in financing, as it would then function as a back-up residence", pointed out Mr Picon.
At the high-income end of the market the same reasoning could add to the trend for purchasing second homes in resorts such as Hua Hin or Pattaya. "Many have fled to these resorts especially people who don't need to work in Bangkok such as children and the elderly", stated Monchai Orawongpaisan, Senior Manager for Residential Project Sales and Marketing. Again family pressure could result in more property being purchased not only as a weekend retreat but also as a back- up residence. "We could see significant activity in the market during the first half of next year based on this trend in Hua Hin, Pattaya and other nearby resorts", he added.
While high rises will prove more popular, landed property will still remain a strong presence in the city. There are dire warnings of global warning leading to more regular flooding problems, including flash floods as a result of heavy downpours and a future trend could be simply opting for houses on stilts which reflected a common mode of living in the past. "Many countries have been affected by floods and stilt based housing is proving more popular with innovative designs coming to the fore which exclude the use of hardwood pilling", said Mr Picon. The existence of such properties would also support the city in allowing water to run off quickly. "It is basically a way of accepting Mother Nature and living with it rather than trying to confront the situation ", he added.
Mr Picon pointed out that the problem for buyers finding locations that will be relatively safe from future floods is that effects can vary based on a number of factors. "Firstly, flooding is a combination of run-off from the north, heavy rains and high tides in November; and the impact of each differs for every flood leading to different geographical patterns of inundation ", said Mr Picon. The other variable is that the elaborate flood protection system for Bangkok is managed by politicians and administrators, and their priorities can change. "If the whole of Bangkok is inundated this time then buyers will face a big dilemma as to finding suitable locations in the future", warned Mr Picon.
The decision as to whether to purchase landed property versus a high-rise condominium will likely be in favour of the latter due to the floods but even then people will evaluate which areas are less prone to floods. "Even if your high-rise home is protected you still don't want the area inundated with flood water for weeks", pointed out Mr Jeerapaet. However long the delays in buyers coming back in the market the pent up demand is likely to increase and eventually a significant number of launches will take place. According to Tony Picon, Associate Director at Colliers, condominiums will be even more popular than they were before the floods. "We are noticing that more older people and children are staying in condominiums at the moment and the reason is that the owners are using units as temporary accommodation for their extended families", he said. In the aftermath of the floods many who were forced to evacuate to centres may rethink their options. "You could find families encouraging one of their number to purchase a condominium unit and even help in financing, as it would then function as a back-up residence", pointed out Mr Picon.
At the high-income end of the market the same reasoning could add to the trend for purchasing second homes in resorts such as Hua Hin or Pattaya. "Many have fled to these resorts especially people who don't need to work in Bangkok such as children and the elderly", stated Monchai Orawongpaisan, Senior Manager for Residential Project Sales and Marketing. Again family pressure could result in more property being purchased not only as a weekend retreat but also as a back- up residence. "We could see significant activity in the market during the first half of next year based on this trend in Hua Hin, Pattaya and other nearby resorts", he added.
While high rises will prove more popular, landed property will still remain a strong presence in the city. There are dire warnings of global warning leading to more regular flooding problems, including flash floods as a result of heavy downpours and a future trend could be simply opting for houses on stilts which reflected a common mode of living in the past. "Many countries have been affected by floods and stilt based housing is proving more popular with innovative designs coming to the fore which exclude the use of hardwood pilling", said Mr Picon. The existence of such properties would also support the city in allowing water to run off quickly. "It is basically a way of accepting Mother Nature and living with it rather than trying to confront the situation ", he added.
Mr Picon pointed out that the problem for buyers finding locations that will be relatively safe from future floods is that effects can vary based on a number of factors. "Firstly, flooding is a combination of run-off from the north, heavy rains and high tides in November; and the impact of each differs for every flood leading to different geographical patterns of inundation ", said Mr Picon. The other variable is that the elaborate flood protection system for Bangkok is managed by politicians and administrators, and their priorities can change. "If the whole of Bangkok is inundated this time then buyers will face a big dilemma as to finding suitable locations in the future", warned Mr Picon.
ตลาดที่อยู่อาศัยยังคงมีแนวโน้มผันผวนหลังผ่านสถานการณ์น้ำท่วม
คอลลิเออร์ส อินเตอร์เนชั่นแนล ประเทศไทย บริษัทที่ปรึกษาด้านอสังหาริมทรัพย์ชั้นนำเผยว่า ปัญหาน้ำท่วมในกรุงเทพฯ และความไม่ชัดเจนเกี่ยวกับความเสี่ยงต่อน้ำท่วมของบริเวณกรุงเทพฯชั้นใน ทำให้ยากต่อการประเมินสถานการณ์ตลาดที่อยู่อาศัยช่วงหลังน้ำลด แม้ว่าจะอยู่สถานการณ์ที่ดีที่สุดก็ตาม นายปฏิมา จีระแพทย์ กรรมการผู้จัดการของคอลลิเออร์ส อินเตอร์เนชั่นแนล ประเทศไทย ให้ข้อมูลว่า ตลอดช่วงเวลาที่เหลือของไตรมาส การเปิดตัวโครงการที่พักอาศัยคงจะค่อนข้างเงียบตามสภาวะความรู้สึกของตลาดและปัญหาด้านการเดินทาง สถานการณ์จะไม่เหมือนกับช่วงหลังเกิดเหตุการณ์ในวันที่ 17 พฤษภาคม 2553 ซึ่งผู้ซื้อกระโดดเข้าสู่ตลาดในทันที เพราะหลายคนคงจะระมัดระวังมากขึ้นเกี่ยวกับการตัดสินใจครั้งใหญ่ อย่างการซื้ออสังหาริมทรัพย์จนกว่าเหตุการณ์ที่เกิดขึ้นจะยุติลง และมีการวิเคราะห์ผลที่เกิดขึ้นจากเหตุการณ์น้ำท่วมในครั้งนี้ “รายละเอียดทั้งหมดต้องถูกเปิดเผยก่อนที่ผู้ซื้อจะเร่งหวนคืนสู่ตลาด และเจ้าของโครงการเองก็จำเป็นต้องประเมินโครงการต่างๆ ใหม่” นายปฏิมากล่าว
การตัดสินใจเลือกซื้อระหว่างบ้านพร้อมที่ดินกับคอนโดสูง อย่างหลังน่าจะได้เปรียบมากกว่าเมื่อคำนึงถึงปัจจัยเรื่องน้ำท่วม แต่ถึงแม้จะเป็นที่พักอาศัยในอาคารสูง ประชาชนก็ยังต้องพิจารณาว่าทำเลไหนเสี่ยงต่อน้ำท่วมน้อยกว่า “แม้ว่าที่อยู่อาศัยบนอาคารสูงของคุณจะไม่ได้รับผลกระทบจากน้ำท่วม แต่คุณก็คงไม่อยากอยู่ในบริเวณที่มีน้ำท่วมนานหลายสัปดาห์” นายปฏิมาชี้ อย่างไรก็ตาม เมื่อผู้ซื้อหวนคืนสู่ตลาดหลังจากชะลอไปนาน น่าจะทำให้อุปสงค์ที่อั้นไว้เพิ่มสูงขึ้น ซึ่งจะส่งผลให้มีการเปิดตัวโครงการต่างๆ ตามมาอีกหลายโครงการ นายโทนี พิคอนวิเคราะห์ว่า ความนิยมในคอนโดมิเนียมนั้นจะเพิ่มสูงขึ้นกว่าเมื่อครั้งที่ยังไม่เกิดอุทกภัย “เราสังเกตเห็นว่า ณ ขณะนี้ มีจำนวนผู้สูงอายุและเด็กมาพักอาศัยอยู่ในคอนโดมิเนียมเพิ่มขึ้น ซึ่งเป็นผลจากเจ้าของห้องชุดหลายคนได้ใช้ห้องพักเป็นที่พักอาศัยชั่วคราวสำหรับครอบครัวขยายของพวกเขา” นายโทนีอธิบาย ผลกระทบที่ตามมาจากน้ำท่วมจะทำให้ประชาชนจำนวนมากที่จำเป็นต้องย้ายไป อาศัยอยู่ตามศูนย์อพยพต้องพิจารณาทางเลือกของตนเสียใหม่ “คุณจะพบว่ามีหลายครอบครัวสนับสนุนให้สมาชิกในครอบครัวซื้อห้องในอาคารชุดรวมไปถึงการเสนอให้ความช่วยเหลือด้านการ เงินเนื่องจากห้องในอาคารชุดจะทำหน้าที่เป็นที่พักอาศัยสำรอง” นายโทนีชี้
ในตลาดกลุ่มผู้มีรายได้สูง เหตุผลเดียวกันนี้ ทำให้แนวโน้มในการซื้อบ้านหลังที่สองในบริเวณสถานที่พักตากอากาศอย่างหัวหินหรือพัทยา เพิ่งสูงขึ้น “หลายๆ คนหนีไปยังสถานที่ตากอากาศ โดยเฉพาะอย่างยิ่ง กลุ่มคนที่ไม่มีความจำเป็นต้องทำงานในกรุงเทพฯอย่างเด็กและคนชรา” นายมนต์ชัย อรวงศ์ไพศาล ผู้จัดการอาวุโสฝ่ายขายโครงการที่พักอาศัยระบุ แรงกดดันจากครอบครัวอาจส่งผลให้มีการซื้ออสังหาริมทรัพย์เพิ่มมากขึ้น ไม่ใช่สำหรับการพักผ่อนในช่วงสุดสัปดาห์เพียงอย่างเดียว แต่ยังเป็นที่พักอาศัยสำรองด้วย “เราจะเห็นการเคลื่อนไหวอย่างมีนัยสำคัญของตลาดในช่วงครึ่งแรกของปีหน้า โดยแนวโน้มอยู่ที่หัวหิน พัทยาและสถานที่ตากอากาศใกล้กรุงเทพฯ” นายมนต์ชัยให้ข้อมูลเพิ่มเติม
แม้อาคารสูงจะเป็นที่นิยมมากกว่า แต่อสังหาริมทรัพย์พร้อมที่ดินก็ยังคงมาแรงในกรุงเทพฯ คำเตือนเรื่องโลกร้อนก่อให้เกิดปัญหาน้ำท่วมบ่อยครั้งยิ่งขึ้น รวมถึงน้ำท่วมฉับพลันที่เกิดจากฝนตกหนัก ส่งผลให้ประชาชนมีแนวโน้มจะเลือกบ้านยกพื้นสูงซึ่งสะท้อนวิถีชีวิตทั่วไปในอดีต “หลายๆ ประเทศได้รับผลกระทบจากน้ำท่วมและบ้านยกพื้นสูงเป็นที่นิยมมากขึ้น โดยมีนวัตกรรมใหม่ๆ ออกมาเรื่อยๆ รวมทั้งการปูพื้นด้วยไม้เนื้อแข็ง” นายโทนีกล่าว อสังหาริมทรัพย์ในรูปแบบดังกล่าวยังมีส่วนช่วยให้น้ำไหลผ่านกรุงเทพฯได้เร็ว ขึ้น “เป็นวิธีพื้นฐานในการยอมรับสภาพธรรมชาติและ ปรับตัวให้เข้ากับธรรมชาติแทนการเผชิญหน้า” นายโทนีเสริม
นายโทนีชี้ว่า ผู้ซื้อมีปัญหาในการหาทำเลที่เสี่ยงต่ออุทกภัยน้อยเนื่องจากผลกระทบจากน้ำท่วมขึ้นอยู่กับหลายปัจจัย “ประการแรก น้ำท่วมเป็นผลจากน้ำที่ไหลบ่าลงมาจากภาคเหนือ ฝนตกหนักและน้ำทะเลหนุนในเดือนพฤศจิกายน ผลของแต่ละปัจจัยทำให้สถานการณ์น้ำท่วมแต่ละครั้งแตกต่างกัน ซึ่งทำให้บริเวณที่ได้รับผลกระทบจากอุทกภัยแตกต่างกันด้วย” นายโทนีกล่าว ปัจจัยอื่นๆ ได้แก่ระบบการป้องกันน้ำท่วมอันสลับซับซ้อนของกรุงเทพฯ การบริหารจัดการโดยนักการเมืองและข้าราชการซึ่งลำดับความสำคัญอาจเปลี่ยนแปลงได้ “ถ้าครั้งนี้น้ำท่วมทั่วกรุงเทพฯ ผู้ซื้อจะตัดสินใจเลือกทำเลที่เหมาะสมได้ลำบากในอนาคต” นายโทนีเตือน
การตัดสินใจเลือกซื้อระหว่างบ้านพร้อมที่ดินกับคอนโดสูง อย่างหลังน่าจะได้เปรียบมากกว่าเมื่อคำนึงถึงปัจจัยเรื่องน้ำท่วม แต่ถึงแม้จะเป็นที่พักอาศัยในอาคารสูง ประชาชนก็ยังต้องพิจารณาว่าทำเลไหนเสี่ยงต่อน้ำท่วมน้อยกว่า “แม้ว่าที่อยู่อาศัยบนอาคารสูงของคุณจะไม่ได้รับผลกระทบจากน้ำท่วม แต่คุณก็คงไม่อยากอยู่ในบริเวณที่มีน้ำท่วมนานหลายสัปดาห์” นายปฏิมาชี้ อย่างไรก็ตาม เมื่อผู้ซื้อหวนคืนสู่ตลาดหลังจากชะลอไปนาน น่าจะทำให้อุปสงค์ที่อั้นไว้เพิ่มสูงขึ้น ซึ่งจะส่งผลให้มีการเปิดตัวโครงการต่างๆ ตามมาอีกหลายโครงการ นายโทนี พิคอนวิเคราะห์ว่า ความนิยมในคอนโดมิเนียมนั้นจะเพิ่มสูงขึ้นกว่าเมื่อครั้งที่ยังไม่เกิดอุทกภัย “เราสังเกตเห็นว่า ณ ขณะนี้ มีจำนวนผู้สูงอายุและเด็กมาพักอาศัยอยู่ในคอนโดมิเนียมเพิ่มขึ้น ซึ่งเป็นผลจากเจ้าของห้องชุดหลายคนได้ใช้ห้องพักเป็นที่พักอาศัยชั่วคราวสำหรับครอบครัวขยายของพวกเขา” นายโทนีอธิบาย ผลกระทบที่ตามมาจากน้ำท่วมจะทำให้ประชาชนจำนวนมากที่จำเป็นต้องย้ายไป อาศัยอยู่ตามศูนย์อพยพต้องพิจารณาทางเลือกของตนเสียใหม่ “คุณจะพบว่ามีหลายครอบครัวสนับสนุนให้สมาชิกในครอบครัวซื้อห้องในอาคารชุดรวมไปถึงการเสนอให้ความช่วยเหลือด้านการ เงินเนื่องจากห้องในอาคารชุดจะทำหน้าที่เป็นที่พักอาศัยสำรอง” นายโทนีชี้
ในตลาดกลุ่มผู้มีรายได้สูง เหตุผลเดียวกันนี้ ทำให้แนวโน้มในการซื้อบ้านหลังที่สองในบริเวณสถานที่พักตากอากาศอย่างหัวหินหรือพัทยา เพิ่งสูงขึ้น “หลายๆ คนหนีไปยังสถานที่ตากอากาศ โดยเฉพาะอย่างยิ่ง กลุ่มคนที่ไม่มีความจำเป็นต้องทำงานในกรุงเทพฯอย่างเด็กและคนชรา” นายมนต์ชัย อรวงศ์ไพศาล ผู้จัดการอาวุโสฝ่ายขายโครงการที่พักอาศัยระบุ แรงกดดันจากครอบครัวอาจส่งผลให้มีการซื้ออสังหาริมทรัพย์เพิ่มมากขึ้น ไม่ใช่สำหรับการพักผ่อนในช่วงสุดสัปดาห์เพียงอย่างเดียว แต่ยังเป็นที่พักอาศัยสำรองด้วย “เราจะเห็นการเคลื่อนไหวอย่างมีนัยสำคัญของตลาดในช่วงครึ่งแรกของปีหน้า โดยแนวโน้มอยู่ที่หัวหิน พัทยาและสถานที่ตากอากาศใกล้กรุงเทพฯ” นายมนต์ชัยให้ข้อมูลเพิ่มเติม
แม้อาคารสูงจะเป็นที่นิยมมากกว่า แต่อสังหาริมทรัพย์พร้อมที่ดินก็ยังคงมาแรงในกรุงเทพฯ คำเตือนเรื่องโลกร้อนก่อให้เกิดปัญหาน้ำท่วมบ่อยครั้งยิ่งขึ้น รวมถึงน้ำท่วมฉับพลันที่เกิดจากฝนตกหนัก ส่งผลให้ประชาชนมีแนวโน้มจะเลือกบ้านยกพื้นสูงซึ่งสะท้อนวิถีชีวิตทั่วไปในอดีต “หลายๆ ประเทศได้รับผลกระทบจากน้ำท่วมและบ้านยกพื้นสูงเป็นที่นิยมมากขึ้น โดยมีนวัตกรรมใหม่ๆ ออกมาเรื่อยๆ รวมทั้งการปูพื้นด้วยไม้เนื้อแข็ง” นายโทนีกล่าว อสังหาริมทรัพย์ในรูปแบบดังกล่าวยังมีส่วนช่วยให้น้ำไหลผ่านกรุงเทพฯได้เร็ว ขึ้น “เป็นวิธีพื้นฐานในการยอมรับสภาพธรรมชาติและ ปรับตัวให้เข้ากับธรรมชาติแทนการเผชิญหน้า” นายโทนีเสริม
นายโทนีชี้ว่า ผู้ซื้อมีปัญหาในการหาทำเลที่เสี่ยงต่ออุทกภัยน้อยเนื่องจากผลกระทบจากน้ำท่วมขึ้นอยู่กับหลายปัจจัย “ประการแรก น้ำท่วมเป็นผลจากน้ำที่ไหลบ่าลงมาจากภาคเหนือ ฝนตกหนักและน้ำทะเลหนุนในเดือนพฤศจิกายน ผลของแต่ละปัจจัยทำให้สถานการณ์น้ำท่วมแต่ละครั้งแตกต่างกัน ซึ่งทำให้บริเวณที่ได้รับผลกระทบจากอุทกภัยแตกต่างกันด้วย” นายโทนีกล่าว ปัจจัยอื่นๆ ได้แก่ระบบการป้องกันน้ำท่วมอันสลับซับซ้อนของกรุงเทพฯ การบริหารจัดการโดยนักการเมืองและข้าราชการซึ่งลำดับความสำคัญอาจเปลี่ยนแปลงได้ “ถ้าครั้งนี้น้ำท่วมทั่วกรุงเทพฯ ผู้ซื้อจะตัดสินใจเลือกทำเลที่เหมาะสมได้ลำบากในอนาคต” นายโทนีเตือน
Sunday 24 July 2011
ตลาดคอนโดยังคงสดใสและแข็งแกร่ง แม้จะมีสัญญาณเตือนภัยให้เห็นอยู่รำไร
รายงานฉบับล่าสุดของคอลลิเออร์ส อินเตอร์เนชั่นแนล ประเทศไทย (Colliers International Thailand) เผยให้เห็นว่า ตลาดคอนโดมิเนียมในกรุงเทพฯ ในไตรมาสที่ 2 ของปี 2554 ยังคงสดใสต่อเนื่องจากการรุกทำกิจกรรมในช่วงครึ่งหลังของปี 2553 ในไตรมาสที่สองนี้ มีอาคารชุดประมาณ 11,900 ยูนิต เปิดตัวสู่ตลาดซึ่งเพิ่มขึ้น 9.6% จากไตรมาสก่อน ยูนิตที่เปิดตัวใหม่บริเวณใจกลางกรุงเทพฯและชานเมืองกรุงเทพฯมีจำนวนใกล้เคียงกัน และเป้าหมายคือกลุ่มตลาดราคาย่อมเยาและใกล้เส้นทางขนส่งมวลชน
ข่าวเด่นประจำไตรมาสได้แก่การเปิดตัวโนเบิล เพลินจิตขนาด 1,442 ยูนิต เพียงวันแรกก็ทำยอดขายได้ถึงประมาณ 700 ยูนิต นายปฏิมา จีระแพทย์ กรรมการผู้จัดการบริษัทคอลลิเออร์สฯ ประเทศไทย เชื่อว่าอนาคตของกรุงเทพฯมีแววสดใสรุ่งโรจน์ “ความสำเร็จอันงดงามในการเปิดตัวโครงการทั้งๆ ที่เป็นช่วงเลือกตั้งซึ่งมีความผันผวนสูงนั้น แสดงให้เห็นว่าคนไทยไม่ได้หวั่นวิตกมากนัก” นายปฏิมาตั้งข้อสังเกตว่าขนาดห้องซึ่งค่อนข้างเล็กและส่วนใหญ่เป็นห้องประเภทหนึ่งห้องนอนนั้น แสดงให้เห็นว่าแม้แต่โครงการระดับบนยังคำนึงถึงกำลังซื้อ และยังกล่าวเสริมด้วยว่า “บริษัทผู้พัฒนาโครงการสำหรับลูกค้าทุกกลุ่มลดขนาดห้องชุดลงเพื่อดึงดูดอุปสงค์ของผู้ที่มีแนวโน้มว่าจะซื้อเพิ่มขึ้น” นายปฏิมาพอใจที่โนเบิล เพลินจิตและโครงการศูนย์การค้าเซ็นทรัล เอ็มบาสซีซึ่งอยู่ในระหว่างก่อสร้างจะเติมช่องว่างระหว่างชิดลมถึงต้นถนนสุขุมวิท “ฝั่งตะวันออกของเพลินจิตค่อนข้างจะร้างมาสักพักแล้ว” นายปฏิมาอธิบาย
ลุมพินี วิลล์ พัฒนาการ – เพชรบุรีตัดใหม่ของแอลพีเอ็น ดีเวลล็อปเมนท์ เป็นอีกหนึ่งโครงการที่ประสบความสำเร็จในการเปิดตัวในไตรมาสที่ 2 ยอดจองในช่วงเปิดตัวอยู่ที่ 70% จาก 1,605 ยูนิต ฝั่งใต้เองก็ไม่น้อยหน้า ยอดจองช่วงเปิดตัวพรีมา พระราม 3 - นราธิวาส ของศุภาลัยอยู่ที่ 80% โดยราคาขายเริ่มต้นที่ 56,000 บาท ต่อ ตร.ม. ระบบขนส่งมวลชนยังคงเป็นปัจจัยสำคัญในตลาด โดยโครงการในระยะ 200 เมตร จากสถานีนั้น ตั้งราคาขายได้สูงกว่าและมียอดจองมากกว่าโครงการที่อยู่ห่างออกไป
แม้ว่าคอลลิเออร์สฯยังคงเชื่อมั่นว่า ตลาดคอนโดมิเนียมจะยังคงเติบโตอย่างต่อเนื่อง แต่นายแอนโทนี พิคอน ผู้ช่วยผู้อำนวยการฝ่ายวิจัยของคอลลิเออร์สฯได้กล่าวเตือนว่า “เนื่องจากยังมีอีกหลายโครงการที่อยู่ในระหว่างก่อสร้าง และอัตราค่าแรงขั้นต่ำที่มีแนวโน้มพุ่งสูงขึ้นอาจส่งผลให้ต้นทุนการก่อสร้างในอนาคตเพิ่มขึ้น” นายพิคอนเตือน แรงกดดันจากเงินเฟ้อที่เพิ่มมากขึ้นส่งผลให้อัตราดอกเบี้ยเพิ่มสูงขึ้นไปอีก ซึ่งนายพิคอนกังวลว่าดอกเบี้ยสูงจะเป็นผลร้ายต่อผู้กู้ “ถ้าดอกเบี้ยสูงขึ้นถึงระดับหนึ่ง ผู้กู้จะชำระไม่ไหว และแม้ว่าวันนี้ยังไม่มีปัญหา แต่เศรษฐกิจที่ร้อนแรงเกินไปอาจกลายเป็นปัญหาเพราะการใช้จ่ายเกินตัว” นายพิคอนเสริม
โครงการใหม่ที่เพิ่งเปิดตัวในไตรมาสที่ 2 ของปี 2554 เพิ่มขึ้น 9.6% จากไตรมาสที่ 1 ของปี 2554 ห้องชุดประมาณ 11,900 ยูนิตจะออกสู่ตลาด ซึ่งแสดงให้เห็นว่าตลาดยังคงสดใสหลังจากครึ่งปีหลังของปี 2553 มีการเปิดตัวโครงการไปแล้วหลายโครงการ
ราคาขายเฉลี่ยสำหรับบริเวณใจกลางเมืองแตะระดับสูงสุดที่กว่า 130,000 บาทต่อ ตร.ม. ซึ่งสูงกว่าราคาขายเฉลี่ยในกรุงเทพฯถึง 45% ราคาขายเฉลี่ยในบริเวณชานเมืองฝั่งตะวันออกสูงเป็นอันดับสอง เนื่องจากบริษัทผู้พัฒนาโครงการซึ่งจดทะเบียนในตลาดหลักทรัพย์แห่งหนึ่งกำลังพัฒนาโครงการหนึ่งในย่านนี้ซึ่งราคาขายสูงกว่า 120,000 บาทต่อ ตร.ม.
http://www.colliers.co.th
Monday 27 June 2011
Colliers gives hope to children
On June 24, 2011, Colliers International Thailand has recently contributed money, toys, gifts and clothing to Santisuk Foundation to give hope and encouragement to the children, to live their lives with dignity and quality and support their various activities that Santisuk Foundation set up on special occasions.
ตลาดภูเก็ตกระเตื้องขึ้น แม้ยังสู้ยุคเฟื่องฟูไม่ได้
รายงานสภาพตลาดที่อยู่อาศัยในภูเก็ตของคอลลิเออร์ส อินเตอร์เนชั่นแนล ประเทศไทย (Colliers International Thailand) ระบุว่า ปี 2553 และห้าเดือนแรกของปี 2554 เป็นช่วงฟื้นตัวจากสภาพตลาดซบเซาอันสืบเนื่องมาจากวิกฤตการณ์ทางการเงินทั่วโลก นักลงทุนต่างชาติกำลังหวนคืนสู่เกาะภูเก็ต
รายงานฉบับนี้แยกตลาดในพื้นที่ไม่ติดทะเล ซึ่งเป็นที่ตั้งของอสังหาริมทรัพย์ส่วนใหญ่ กับตลาดบริเวณชายฝั่งที่ถึงแม้มีจำนวนอสังหาริมทรัพย์และที่ดินน้อยกว่าแต่มูลค่าของทรัพย์สินสูงกว่า นายปฏิมา จีระแพทย์ กรรมการผู้จัดการบริษัทคอลลิเออร์สฯ ชี้แจงว่า ชาวต่างชาติสนใจตลาดชายฝั่งทะเลภูเก็ตมากกว่ารีสอร์ทในพัทยาและหัวหิน “เศรษฐีคนไทยส่วนใหญ่เลือกซื้อบ้านหลังที่สองในรีสอร์ทใกล้ๆ กรุงเทพฯ เพราะเดินทางสะดวก ดังนั้นกลุ่มเป้าหมายของอสังหาริมทรัพย์บริเวณชายฝั่งทะเลภูเก็ตจึงเน้นชาวต่างชาติ ซึ่งอ่อนไหวต่อสถานการณ์เศรษฐกิจโลกมากกว่าที่อื่น”
แม้ว่าทรัพย์สินประเภทที่ดินจะครองตลาดที่อยู่อาศัยส่วนใหญ่ โดยเฉพาะอย่างยิ่งบริเวณไม่ติดทะเล แต่ในปี 2553 ที่ผ่านมา เป็นหนึ่งในจำนวนหลายๆ ปีที่มีจำนวนคอนโดมิเนียมออกสู่ตลาดมากกว่าปกติ ประมาณ 1,020 ยูนิต โดย ณ เดือนพฤษภาคมปี 2554 มีคอนโดมิเนียมจำนวน 200 ยูนิตออกสู่ตลาด ส่วนใหญ่ตั้งอยู่ในพื้นที่ไม่ติดทะเล และปัจจุบัน ตลาดในประเทศได้กลายเป็นกำลังซื้อหลักไปแล้ว
ตลาดชายฝั่งทะเลชั้นสูงยังต้องรอเวลาคืนสู่ความคึกคักเหมือนช่วงก่อนเกิดวิกฤติการณ์ทางการเงินทั่วโลก แต่ความสำเร็จของหลาย ๆ โครงการชี้ให้เห็นว่าตลาดกำลังฟื้นตัว “สภาพตลาดในปัจจุบันจะเปรียบเหมือนแก้วที่มีน้ำเหลือตั้งครึ่งแก้วหรือแค่ครึ่งแก้วนั้น ขึ้นอยู่กับว่าคุณนำไปเทียบกับช่วงปี 2549 – 2550 หรือปี 2552" นายแอนโทนี พิคอน ผู้ช่วยผู้อำนวยการฝ่ายวิจัยของคอลลิเออร์สฯกล่าว นายแอนโทนีชี้ให้เห็นถึงความสำเร็จหมาดๆ ของโครงการอันดาราบนหาดกมลาว่า เป็นตัวอย่างซึ่งแสดงให้เห็นว่าภูเก็ตยังคงครองความเป็นที่สุดในตลาดอสังหาริมทรัพย์ระดับหรู “ผู้ที่มีกำลังซื้อสูงมาจากหลากหลายประเทศ ไม่ใช่แค่ยุโรป แต่ฮ่องกง รัสเซียและตะวันออกกลางกลายเป็นผู้ซื้อรายสำคัญของตลาดในปัจจุบัน" นายแอนโทนีชี้ บริษัทผู้พัฒนาโครงการอยู่ระหว่างพิจารณาปรับกลยุทธ์ทางการตลาดเพื่อให้เหมาะสมกับโปรไฟล์ของผู้ซื้อที่เปลี่ยนไป "โครงการกมลา ฟอลล์เสนอขายในรูปสินทรัพย์แบบฮาลาล โดยมีสระว่ายน้ำเฉพาะสำหรับผู้หญิงเพื่อดึงดูดผู้ซื้อมุสลิม" นายแอนโทนีอธิบาย
อันที่จริง หาดกมลาและบริเวณชายฝั่งทะเลทางทิศตะวันตกเฉียงเหนือเป็นทำเลที่กำลังบูมสำหรับโครงการระดับไฮเอนด์ มิเลียนแนร์ส ไมล์ยังมีพื้นที่อีกมากให้สร้างอสังหาริมทรัพย์หรูหรา อีกโอกาสหนึ่งที่น่าสนใจคืออนาคตของภูเก็ตในฐานะท่าจอดเรือซูเปอร์ยอร์ช เอเชียกำลังกลายเป็นจุดหมายในการล่องเรือสำราญที่ได้รับความนิยมไม่แพ้คาริเบียนและเมดิเตอเรเนียน แต่น่านน้ำในเอเชียแออัดน้อยกว่า “เศรษฐีชาวเอเชียเป็นกำลังซื้อสำคัญของซูเปอร์ยอร์ช และสถานภาพของภูเก็ตในฐานะจุดหมายในการล่องเรือยอร์ชที่มีชื่อเสียงเพราะมีท่าจอดเรือชั้นดีและมีเกาะแก่งงดงาม อาจยิ่งดีขึ้นหากมีการพัฒนาและยกระดับตลาดอสังหาริมทรัพย์ระดับสูง” นายปฏิมาแนะนำ อันที่จริง บริเวณรอบๆ ภูเก็ต พังงาและกระบี่สามารถพัฒนาให้เป็นจุดหมายในการล่องเรือยอร์ชระดับโลกได้ในอนาคต โดยมีภูเก็ตเป็นศูนย์กลาง "ภูเก็ตเป็นสัญลักษณ์แห่งความหรูหรา” นายปฏิมาเสริม
ปัจจัยสำคัญอีกประการหนึ่งซึ่งเป็นผลดีต่อภูเก็ตได้แก่ จำนวนเที่ยวบินนานาชาติที่บินตรงสู่ภูเก็ตมีเพิ่มมากขึ้น ซึ่งเป็นผลจากการขยายตัวอย่างรวดเร็วของสายการบินต้นทุนต่ำ นายแอนโทนีเชื่อว่าปัจจัยส่งผลให้มีจำนวนนักท่องเที่ยวมาเยือนภูเก็ตมากขึ้น ซึ่งนักท่องเที่ยวก็จะกลายมาเป็นผู้ซื้ออสังหาริมทรัพย์ในที่สุด “ตลาดที่อยู่อาศัยสำหรับชาวต่างชาติในภูเก็ตยังต้องฟื้นตัวกลับสู่ช่วงก่อนเกิดเหตุการณ์เลย์แมน แต่ยืนอยู่ในจุดที่ดีโดยผู้ซื้อจากตลาดดั้งเดิมอย่างยุโรปและสหรัฐอเมริกากลับมาเป็นแรงหนุนตลาดประเทศกำลังพัฒนาที่กำลังเติบโต" นายแอนโทนีชี้แจง
Monday 2 May 2011
Tokyo Records Highest Warehouse Rentals Globally In 2010
Asia Pacific warehouse demand is expected to take a dip due to the impact on the regional trade after the March 11 earthquake and tsunami in Japan
Colliers International recently released the Global Industrial Highlights – Second Half 2010, with Asia Pacific emerging yet again as the most robust region, North America registering a pick-up in leasing activity while Europe, Middle East and Africa (EMEA) reported a modest growth.
In terms of warehouse rental, Tokyo topped the world at USD 22.56 as of end 2010. This is followed by London – Heathrow, Zurich, Hong Kong and Geneva – the global top five industrial warehouse rentals.
Asia Pacific
In the second half of 2010, exports in many countries posted encouraging growth rates, with healthy economic growth in the region and exporters boosting sales both within the region and globally. Asia Pacific continued to be the world’s most robust region. Across most markets in Asia Pacific, warehouse rentals were steady or in upward swing. Tokyo’s warehouse rentals were the highest at the end of 2010, followed by Hong Kong and Singapore at the 4th and 7th spot respectively.
Thailand witnessed a continued surge in industrial estate activity over the course of 2010 with an additional supply of 8,914 rai (3,523 acres) of Serviced Industrial Land Plots being added to the market.
However, with Japan’s devastating earthquake on March 2011, trade across the region will feel some effects with demand for warehouse space in the region expected to be sluggish compared to 2010. Disruptions in the supply chain have been felt in Thailand, a strong manufacturing base for Japanese companies. However over the medium and long term Thailand is expected to benefit as Japanese multinationals consider moving more production away from its own shores.
North America
Both the United States and Canadian warehouse market registered a noticeable pick-up in the second half of 2010. Warehouse demand in the United States was concentrated in a number of port-related markets, while in Canada, most markets recorded a fairly brisk period in the second half of 2010. Meanwhile, with a return of demand and continued drop-off in construction, vacancies in Canada and the United States decreased.
Amid signs of economic recovery in both countries, occupancy gains are expected to be sizeable in 2011 given healthy gains in manufacturing and a continued bounce-back in consumer spending. However, rentals are expected to remain largely directionless this year. Taking the second half of 2010 as an example, rental in United States fell 2.9% while those in Canada increased marginally by 0.2%.
EMEA
In EMEA, various markets were characterised by sluggish leasing activity and little expansion. Warehouse rentals again kept steady in the second half of 2010, similar to the first six months in the year, although Europe is home to some of the most expensive warehouse rentals in the world. For example, London – Heathrow, Zurich and Geneva were included in the top five most expensive warehouse rentals in the world.
London - Heathrow not only registered the most expensive warehouse rentals in EMEA, its prime industrial land prices at USD 56.82 per sq ft was the highest in the region and remained far in excess of any other markets in EMEA.
Colliers International recently released the Global Industrial Highlights – Second Half 2010, with Asia Pacific emerging yet again as the most robust region, North America registering a pick-up in leasing activity while Europe, Middle East and Africa (EMEA) reported a modest growth.
In terms of warehouse rental, Tokyo topped the world at USD 22.56 as of end 2010. This is followed by London – Heathrow, Zurich, Hong Kong and Geneva – the global top five industrial warehouse rentals.
Asia Pacific
In the second half of 2010, exports in many countries posted encouraging growth rates, with healthy economic growth in the region and exporters boosting sales both within the region and globally. Asia Pacific continued to be the world’s most robust region. Across most markets in Asia Pacific, warehouse rentals were steady or in upward swing. Tokyo’s warehouse rentals were the highest at the end of 2010, followed by Hong Kong and Singapore at the 4th and 7th spot respectively.
Thailand witnessed a continued surge in industrial estate activity over the course of 2010 with an additional supply of 8,914 rai (3,523 acres) of Serviced Industrial Land Plots being added to the market.
However, with Japan’s devastating earthquake on March 2011, trade across the region will feel some effects with demand for warehouse space in the region expected to be sluggish compared to 2010. Disruptions in the supply chain have been felt in Thailand, a strong manufacturing base for Japanese companies. However over the medium and long term Thailand is expected to benefit as Japanese multinationals consider moving more production away from its own shores.
North America
Both the United States and Canadian warehouse market registered a noticeable pick-up in the second half of 2010. Warehouse demand in the United States was concentrated in a number of port-related markets, while in Canada, most markets recorded a fairly brisk period in the second half of 2010. Meanwhile, with a return of demand and continued drop-off in construction, vacancies in Canada and the United States decreased.
Amid signs of economic recovery in both countries, occupancy gains are expected to be sizeable in 2011 given healthy gains in manufacturing and a continued bounce-back in consumer spending. However, rentals are expected to remain largely directionless this year. Taking the second half of 2010 as an example, rental in United States fell 2.9% while those in Canada increased marginally by 0.2%.
EMEA
In EMEA, various markets were characterised by sluggish leasing activity and little expansion. Warehouse rentals again kept steady in the second half of 2010, similar to the first six months in the year, although Europe is home to some of the most expensive warehouse rentals in the world. For example, London – Heathrow, Zurich and Geneva were included in the top five most expensive warehouse rentals in the world.
London - Heathrow not only registered the most expensive warehouse rentals in EMEA, its prime industrial land prices at USD 56.82 per sq ft was the highest in the region and remained far in excess of any other markets in EMEA.
Thursday 28 April 2011
Bangkok condominium market cools down for Q1 2011
Concerns regarding an overheating condominium market supply were allayed in Q1 2011 with a fall of around 46% of new launches compared to the previous quarter according to the latest Condominium Market Report from Colliers International Thailand.
Approximately 10,800 units were launched in Q1 2011 with slightly more coming from suburban Bangkok . The six months prior to Q1 were a frenetic time for the condominium market and Antony Picon, Associate Director of Research at Colliers believes this represented an aberration rather than a trend. "Many of the launches were tapping into the first time buyer market with small unit sizes and affordable prices and the reaction was similar to any new high profile product hitting the market for the first time such as the ipad", he said. "After a while things steadied and become more sustainable and that is what we are seeing with condominiums now", he added.
Patima Jeerapaet, Managing Director of Colliers, stated that the recent Bank of Thailand's loan to value requirements and the steady rises in interest rates went a long way to restrain the breakneck pace of launches. "There was considerable media attention at the end of last year regarding the high number of launches and prudent action has been taken that allows the market to consolidate rather than come to a complete halt and this can only be good for the market in the long term", Mr Patima pointed out.
Increasing land prices and construction costs are creating pricing pressures and it will be difficult for developers to pass these on the buyers, claimed Mr Picon. "Unit sizes can only be reduced by so much and already there is talk of action to limit this so any future price rises will only be possible with strong economic growth translating into higher wages", he said.
New launches for Q1 2011 were down compared with the previous quarter by around 46%. Just under 10,800 units were launched in Q1 compared to around 20,000 in Q4 2010.
In Q1 2011, the Suburban Bangkok area trumped urban Bangkok with the higher number of units launched. Many projects in the Suburban Bangkok area contain over 600 units.
Within urban Bangkok, the Northern Fringe and Southern Fringe areas have shown the highest numbers with approximately 1,600 units or 15% of each location from the total.
New supply
Approximately 3,500 new condominium units were completed and registered at the Department of Land in Q1 2011 and the total number of the whole of Bangkok was approximately 300,000 units, and more than 39,500 units are scheduled to be completed in 2011. The number of condominium units under construction and scheduled to be completed in 2011 is the highest since the global financial crisis in 1997.
The average selling price in the City area is the highest at more than THB 95,000 per sq m, however this is nearly 13% lower than the average selling price in 2010. This was due to less prestigious projects being launched in Q1 2011.
Approximately 10,800 units were launched in Q1 2011 with slightly more coming from suburban Bangkok . The six months prior to Q1 were a frenetic time for the condominium market and Antony Picon, Associate Director of Research at Colliers believes this represented an aberration rather than a trend. "Many of the launches were tapping into the first time buyer market with small unit sizes and affordable prices and the reaction was similar to any new high profile product hitting the market for the first time such as the ipad", he said. "After a while things steadied and become more sustainable and that is what we are seeing with condominiums now", he added.
Patima Jeerapaet, Managing Director of Colliers, stated that the recent Bank of Thailand's loan to value requirements and the steady rises in interest rates went a long way to restrain the breakneck pace of launches. "There was considerable media attention at the end of last year regarding the high number of launches and prudent action has been taken that allows the market to consolidate rather than come to a complete halt and this can only be good for the market in the long term", Mr Patima pointed out.
Increasing land prices and construction costs are creating pricing pressures and it will be difficult for developers to pass these on the buyers, claimed Mr Picon. "Unit sizes can only be reduced by so much and already there is talk of action to limit this so any future price rises will only be possible with strong economic growth translating into higher wages", he said.
New launches for Q1 2011 were down compared with the previous quarter by around 46%. Just under 10,800 units were launched in Q1 compared to around 20,000 in Q4 2010.
In Q1 2011, the Suburban Bangkok area trumped urban Bangkok with the higher number of units launched. Many projects in the Suburban Bangkok area contain over 600 units.
Within urban Bangkok, the Northern Fringe and Southern Fringe areas have shown the highest numbers with approximately 1,600 units or 15% of each location from the total.
New supply
Approximately 3,500 new condominium units were completed and registered at the Department of Land in Q1 2011 and the total number of the whole of Bangkok was approximately 300,000 units, and more than 39,500 units are scheduled to be completed in 2011. The number of condominium units under construction and scheduled to be completed in 2011 is the highest since the global financial crisis in 1997.
The average selling price in the City area is the highest at more than THB 95,000 per sq m, however this is nearly 13% lower than the average selling price in 2010. This was due to less prestigious projects being launched in Q1 2011.
Monday 21 March 2011
Bangkok remains the biggest supply of office space in ASEAN
Bangkok contains most office space compared to other ASEAN commercial cities including Singapore according to research by Colliers International throughout Asia Pacific. Tokyo contains by far the greatest amount of space in Asia as a whole with around ten times the amount as Bangkok. Patima Jeerapaet, Managing Director of Colliers in Thailand asserted that Bangkok's strong position is a springboard for Bangkok to benefit from the ASEAN Economic Community (AEC) in 2015. "The service sector will be a key factor in the changes that will occur in 2015 and the fact that there is a significant amount of office space already and potential for more is a huge advantage for the city" he said.
Research by Colliers shows that Bangkok has around 7,900,000 square metres compared to Singapore's just over seven million. The other cities of Manila, Jakarta and Kuala Lumpur are further behind but not by much, according to Antony Picon, Associate Director for Research at Colliers. Most of the supply in Bangkok occurred in the 1990's. "Other cities are catching up but opening up the service sector in Thailand should lead to the next wave of office development" he pointed out. Mr Picon also explained that commercial activity in Thailand was centralized in Bangkok while in other countries it was more dispersed. "In Philippines there is a large office market in Cebu, Indonesia has Surabaya, Malaysia has Penang and Vietnam has an additional office market in Hanoi and Danang; in Thailand it is limited to Bangkok".
One of the key components of the AEC is the allowance for 70% ASEAN foreign equity participation in all domestic service industries by 2015. "It takes time for companies to really pay attention to the changes and make plans for benefiting from this, stated Mr Picon. "Thailand has many service sectors that can compete in the region such as architecture and IT but companies must hone the skills of their employees to become true regional champions", he said. "Language skills will be a key factor in all types of business in the future and this is one area that Thailand must move forward on", he stressed. The danger for Thailand, according to Mr Picon, is the wish to have greater protection from non-ASEAN companies using the AEC to further penetrate the market."The more protectionist clothing you wrap yourself in, the weaker you become" he warned. "Manchester United wouldn't be where they are today if they didn't play the likes of Chelsea and Liverpool", he contended.
Mr Patima recognizes the great potential for Bangkok to be a key service sector provider in the coming decades. "There is still plentiful land available for office development especially close to the mass transit lines and rentals will remain very competitive within ASEAN", he said. Mr Patima believes that concerted action by both private and public sectors should take place as soon as possible to ensure that 2015 will be a positive for the country. "If this happens then we will see a renaissance of the office market in the second half of the decade and Bangkok will continue to lead the way", he added.
Research by Colliers shows that Bangkok has around 7,900,000 square metres compared to Singapore's just over seven million. The other cities of Manila, Jakarta and Kuala Lumpur are further behind but not by much, according to Antony Picon, Associate Director for Research at Colliers. Most of the supply in Bangkok occurred in the 1990's. "Other cities are catching up but opening up the service sector in Thailand should lead to the next wave of office development" he pointed out. Mr Picon also explained that commercial activity in Thailand was centralized in Bangkok while in other countries it was more dispersed. "In Philippines there is a large office market in Cebu, Indonesia has Surabaya, Malaysia has Penang and Vietnam has an additional office market in Hanoi and Danang; in Thailand it is limited to Bangkok".
One of the key components of the AEC is the allowance for 70% ASEAN foreign equity participation in all domestic service industries by 2015. "It takes time for companies to really pay attention to the changes and make plans for benefiting from this, stated Mr Picon. "Thailand has many service sectors that can compete in the region such as architecture and IT but companies must hone the skills of their employees to become true regional champions", he said. "Language skills will be a key factor in all types of business in the future and this is one area that Thailand must move forward on", he stressed. The danger for Thailand, according to Mr Picon, is the wish to have greater protection from non-ASEAN companies using the AEC to further penetrate the market."The more protectionist clothing you wrap yourself in, the weaker you become" he warned. "Manchester United wouldn't be where they are today if they didn't play the likes of Chelsea and Liverpool", he contended.
Mr Patima recognizes the great potential for Bangkok to be a key service sector provider in the coming decades. "There is still plentiful land available for office development especially close to the mass transit lines and rentals will remain very competitive within ASEAN", he said. Mr Patima believes that concerted action by both private and public sectors should take place as soon as possible to ensure that 2015 will be a positive for the country. "If this happens then we will see a renaissance of the office market in the second half of the decade and Bangkok will continue to lead the way", he added.
Friday 18 March 2011
EARTH HOUR 2011 : One hand for our WORLD
Colliers International Thailand would like to invite everyone to be a part of EARTH HOUR 2011 campaign to help the EARTH.
Earth Hour 2011, the annual ‘Lights Out’ event, will take place on Saturday 26 March 2011 at 8:30pm. By turn off the lights for 1+ hour. “We are creating a campaign to public and our clients to be aware and to understand Earth Hour initiatives. We would like to raise awareness about better environment and sustainability living on the public’s perspective. We want everyone to get involved and have the sense of belonging of their own contribution to the earth.” said Patima Jeerapaet, Managing Director of Colliers International Thailand.
“We start this campaign since 1st of March 2011 with 3 properties under our management, Deutsche Bank, Assumption University (Suvarnabhumi Campus) for AU Mall, Dormitory, Sport Complex, Car Parking and The Tepp Serviced Apartment and we are promoting this campaign with our clients during this period” he added.
Colliers International Selected By International Association of Outsourcing Professionals (IAOP) as Top Outsourcing Provider
-- Leading Real Estate Services Firm Makes Elite List for Sixth Consecutive Year --
Reinforcing its position as a best-in-class commercial real estate organisation, Colliers International has been selected as one of the world's top 100 outsourcing providers for the sixth consecutive year as part of the 2011 Global Outsourcing 100®. The list recognises the best outsourcing firms across multiple industries, as selected by an independent judging panel organised by the International Association of Outsourcing Professionals (IAOP).
The Global Outsourcing 100 is a critical resource for all companies seeking to do business with best-in-class service providers and vendors. In this way, The Global Outsourcing 100 is more than just a ranking - - it is a critically important referral tool for any company seeking to find top-quality business partners.
“It comes as no surprise to us that Colliers International has once again been recognised as a leading firm by the 2011 Global Outsourcing 100,” said Douglas P. Frye, Global President and CEO of Colliers International. “Our enterprising service philosophy and approach truly differentiates our professionals from other service providers. In addition, our shared culture and commitment to excellence has enabled Colliers International to accelerate the success of clients throughout the world.”
“To make this prestigious list for the sixth consecutive year is a great achievement for us and a true reflection of our company’s essence. At Colliers, our people are our asset,” said Piers Brunner, CEO of Colliers International Asia. “In Asia, we have carved a name for ourselves in service excellence and we will continue to advance further this year to become the undisputed top real estate organisation in the region. We look forward to collectively accelerating our success.”
Tuesday 15 March 2011
Condominium growth matching demand in Pattaya's vibrant market
The Pattaya condominium development market is in good health according to the latest market report from Colliers International Thailand. Supply of units in 2010 was the greatest since 1997 with around 4,700 being added and launches for last year were also strong with over 3,400 being introduced. However take up remains robust throughout all zones so the new supply is being absorbed well. "There are no concerns regarding a bubble in Pattaya as many are talking about in Bangkok at the moment", said Antony Picon, Associate Director of Research at Colliers. "Take up was high at around 70% in Jomtien which reflected the popularity of the lower end products on the market there" he added.
The new darling of the condominium scene in Pattaya is Cosy Beach located in the Pratumnak Hill area, according to Mark Bowling, Senior Sales Manager at Colliers Pattaya Branch located on Second Road opposite Central Festival. "Several high rise condominiums are either currently under construction or in the relatively early stages of sales and marketing" he said. The Cliff by Nova Group was the first to enter the race in late 2009 and has successfully sold approximately 70% of its 427 units in little over 12 months, "a fantastic achievement taking into account the economic climate during that period", added Mr. Bowling.
Following on from the success of The Cliff, Nova Group recently introduced the similarly priced Legend on Cosy Beach, which together with five other proposed high rises in the same area, will increase the supply hugely in this hot spot by several thousand units between 2012 and 2013. Wongamat will also fuel future supply for 2013 with the introduction of three large scale luxury projects The Palm, Zire and W Tower.
The success of Pattaya stems from a number of factors maintains Patima Jeerapaet, Managing Director of Colliers, ranging from the introduction of retail outlets such as Central Festival shopping mall, a wider choice of trendy entertainment and dining venues, faster access to Bangkok and an increasing number of family friendly tourist attractions. "That is why many Thais are now purchasing property in the city like never before", he added.
Mr. Bowling was also keen to point out the number of local developers who are now well established in Pattaya, which provides buyers with confidence when purchasing off plan. "Local developers such as Nova Group, Heights Holdings, Iguana, View Talay and Rattanakorn Asset have a strong portfolio of already constructed products", he said. "Also two well known listed developers, Raimon Land and Major Development, are engaged in the market here and for others the city is appearing on the radar screen", he added.
Despite the continued strength in the Baht foreign buyers from the Euro zone, United Kingdom and USA continue to buy property in Pattaya in large numbers. Nevertheless spending power has been curbed with the most popular price range being between three to six million Baht. Mr Bowling added "There is plenty of availability in this market segment as we see designers and architects have given much thought to innovatively maximizing limited floor space more efficiently thus reducing sales prices without sacrificing location, facilities and overall quality".
The Russian market has become a force to be reckoned with especially in Cosy Beach and Wong Amat. Growth in tourism from India and Middle East also presents an opportunity but one for the future claims Mr. Bowling. "They mostly have a huge desire to buy property here, but are still very cautious and many have modest budgets. I do however see these countries becoming super powers on the Pattaya property scene in the near future, just as the Russians started off slowly several years ago" he explained.
Friday 4 March 2011
Large building sales buoy Thailand property market in 2H 2010
Large building sales buoy Thailand property market in 2H 2010
Kanchana Paha | Mar 03, 2011
Thailand’s real estate investment market in the second half of 2010 remained buoyant with several major transactions being sealed, according to the latest report from Colliers International.
The THB35.5 billion (US$1.16 billion) sale of Carrefour retail stores to the French retail operator Big C Supercenter boosted up the Kingdom’s investment market sentiment last year amidst unfavourable conditions including political uncertainty and legal impediments.
Other transactions included sales of 302 units of Millennium Residence by City Development to Lee Don Assets at THB5 billion (US$165.8 million). L.P.N. Development managed to acquire two plots of land on Rama III (22,968 sqm) and Sukhumvit Soi 24 (5,690) for THB779.01 million (US$25.84 million) and THB387.33 million (US$12.85) respectively.
Rojana Property, the developer of the Madison condominium on Sukhumvit 41 bought a plot on Sukhumvit Road from Metrostar Property at THB512.96 million (US$17.01 million).
Two major commercial property transactions last year were sales of Pacific Place I and II buildings of Lehman Brothers to Thai Property at THB727 million (US$24.11 million), and a purchase of Siripinyo Building of the country’s leading developer Sansiri from Kasikornbank at THB540 billion (US$17.91 million).
Kanchana Paha | Mar 03, 2011
Thailand’s real estate investment market in the second half of 2010 remained buoyant with several major transactions being sealed, according to the latest report from Colliers International.
The THB35.5 billion (US$1.16 billion) sale of Carrefour retail stores to the French retail operator Big C Supercenter boosted up the Kingdom’s investment market sentiment last year amidst unfavourable conditions including political uncertainty and legal impediments.
Other transactions included sales of 302 units of Millennium Residence by City Development to Lee Don Assets at THB5 billion (US$165.8 million). L.P.N. Development managed to acquire two plots of land on Rama III (22,968 sqm) and Sukhumvit Soi 24 (5,690) for THB779.01 million (US$25.84 million) and THB387.33 million (US$12.85) respectively.
Rojana Property, the developer of the Madison condominium on Sukhumvit 41 bought a plot on Sukhumvit Road from Metrostar Property at THB512.96 million (US$17.01 million).
Two major commercial property transactions last year were sales of Pacific Place I and II buildings of Lehman Brothers to Thai Property at THB727 million (US$24.11 million), and a purchase of Siripinyo Building of the country’s leading developer Sansiri from Kasikornbank at THB540 billion (US$17.91 million).
Friday 4 February 2011
Bangkok Office Market Q4 2010
The year 2010 represented one of the least active years for the office market as a whole in Bangkok as businesses were preoccupied with political disturbances and a possible double dip recession for many of its export destinations. The latest Bangkok Office Market Report Q4 2010 by Colliers International Thailand was released with one positive being that limited new supply over the coming few years should help bring occupancy levels back up. Antony Picon, Senior Manager of Research, pointed to issues facing the office market. “Future limited new supply can provide the market with an opportunity to reduce vacancy rates over the next few years”, he said. Mr Picon feels that Bangkok should try to capitalize on future opportunities for service sector growth especially in the form of ASEAN 2015 liberalization. “Thailand should compete harder by improving education as well as more incentives from the Board of Investment . Other countries are moving fast in the Business Process Outsourcing market such as Philippines and Vietnam; Thailand shouldn’t be left behind”, he remarked.
Patima Jeerapaet, Managing Director of Colliers emphasized the positives including new incentives for Regional Operating Headquarters and growing interest from China in Thailand as a regional hub. “Thailand is located in the heart of South East Asia and could gain significantly from the dramatic changes that are shaping the region and this will be very beneficial for the office market,” he pointed out. Mr Patima was also optimistic regarding Sathorn Square, the largest office building in the CBD since Empire Tower. “It is time that we saw new modern office towers being built in our city which reflects the energy and optimism we feel about the future”, he added.
Occupancy rates remained stable over the course of the year as a whole but with variance according to area. The Northern Fringe dipped from just over 86% to just below 84%, while the Outer CBD improved by about the same amount and now reaches 86%. The CBD registered about a 1% improvement over the course of 2010. Rental rates remained fairly static in 2010 as landlords maintain rates and provide incentives to attract tenant s to stay put. Only just under 6,000 sq m was added to supply in 2010 in the form of Office@Sivatel . “In many ways the big story of the office market in 2010 was that there was no story,” asserted Mr Picon. “ My forecast for 2011 is the same again although the opening of Sathorn Square in Q1 2011 will alter the dynamics in the Sathorn Road area but overall the tense global financial situation and lingering domestic tensions will keep many businesses in a holding pattern” he said. However Mr Picon ended on a more optimistic note. “If the country can move forward in the latter half of the year with developing its service sector in a more stable environment, then we might see a big improvement ”.
For more information please contact
Colliers International Thailand
Antony Picon
Associate Director | Research
T: 662 656 7000
E: antony.picon@colliers.com
Surachet Kongcheep
Senior Manager | Research
T: 662 656 7000
E: surachet.kongcheep@colliers.com
Patima Jeerapaet, Managing Director of Colliers emphasized the positives including new incentives for Regional Operating Headquarters and growing interest from China in Thailand as a regional hub. “Thailand is located in the heart of South East Asia and could gain significantly from the dramatic changes that are shaping the region and this will be very beneficial for the office market,” he pointed out. Mr Patima was also optimistic regarding Sathorn Square, the largest office building in the CBD since Empire Tower. “It is time that we saw new modern office towers being built in our city which reflects the energy and optimism we feel about the future”, he added.
Occupancy rates remained stable over the course of the year as a whole but with variance according to area. The Northern Fringe dipped from just over 86% to just below 84%, while the Outer CBD improved by about the same amount and now reaches 86%. The CBD registered about a 1% improvement over the course of 2010. Rental rates remained fairly static in 2010 as landlords maintain rates and provide incentives to attract tenant s to stay put. Only just under 6,000 sq m was added to supply in 2010 in the form of Office@Sivatel . “In many ways the big story of the office market in 2010 was that there was no story,” asserted Mr Picon. “ My forecast for 2011 is the same again although the opening of Sathorn Square in Q1 2011 will alter the dynamics in the Sathorn Road area but overall the tense global financial situation and lingering domestic tensions will keep many businesses in a holding pattern” he said. However Mr Picon ended on a more optimistic note. “If the country can move forward in the latter half of the year with developing its service sector in a more stable environment, then we might see a big improvement ”.
For more information please contact
Colliers International Thailand
Antony Picon
Associate Director | Research
T: 662 656 7000
E: antony.picon@colliers.com
Surachet Kongcheep
Senior Manager | Research
T: 662 656 7000
E: surachet.kongcheep@colliers.com
Tuesday 25 January 2011
Bangkok Retail Market Report Year End 2010
The retail market in Bangkok remained resilient in 2010 against the backdrop of the troubles in April and May, according the latest report from the Colliers International Thailand. Rentals remained stable over the year and th ere was even a slight uptick in occupancy in all areas. Around 185,000 sq m of retail space was added to supply in 2010 and in Q4 five community malls came online adding approximately 38,000 sq m. Although these community malls are small in size they represent an increasing feature of people’s daily lives, according to Patima Jeerapaet, Managing Director of Colliers. “They fit into the pattern of condominium development around the city”, he pointed out. “They are also beneficial to the environment as they reduce the need to drive long distances to shop”, he added.
The big story for 2010 was the sale of Carrefour’s hypermarkets to Big C, another hypermarket chain. This will create something approaching a duopoly and the high price recorded for the sale reflects the new reality for the retail sector in Bangkok’s urban area, contends Antony Picon, Senior Manager for Research at Colliers. “Impending legislation restricting large scale retail development in the centre of the city will lead to existing retail centres having a premium attached to them”, he said. Mr Picon believes that the Carrefour episode is unlikely to be last. “Developers are likely to scramble for these increasingly prized assets”, he added.
Future supply for 2011 is expected to be just shy of 300,000 sq m based on current projections. However one of the key stories over the next few years is the renovation of existing centres. Mr Picon referred to the total difference in design of retail centres now and those that are decades old. “Modern centres have designs that entice people to move up its levels by allowing them to see what is above, where older centres just have straight forward ceilings that block the views of the uppers floors”, he explained. Mr Picon pointed out that older retail centres need to be refurbished in order to maintain their customer base. “When a new centre is placed alongside a much older one the difference in appeal can be stark, so developers have no choice but to upgrade in order to remain competitive” he said.
The big story for 2010 was the sale of Carrefour’s hypermarkets to Big C, another hypermarket chain. This will create something approaching a duopoly and the high price recorded for the sale reflects the new reality for the retail sector in Bangkok’s urban area, contends Antony Picon, Senior Manager for Research at Colliers. “Impending legislation restricting large scale retail development in the centre of the city will lead to existing retail centres having a premium attached to them”, he said. Mr Picon believes that the Carrefour episode is unlikely to be last. “Developers are likely to scramble for these increasingly prized assets”, he added.
Future supply for 2011 is expected to be just shy of 300,000 sq m based on current projections. However one of the key stories over the next few years is the renovation of existing centres. Mr Picon referred to the total difference in design of retail centres now and those that are decades old. “Modern centres have designs that entice people to move up its levels by allowing them to see what is above, where older centres just have straight forward ceilings that block the views of the uppers floors”, he explained. Mr Picon pointed out that older retail centres need to be refurbished in order to maintain their customer base. “When a new centre is placed alongside a much older one the difference in appeal can be stark, so developers have no choice but to upgrade in order to remain competitive” he said.
Saturday 22 January 2011
RICS Thailand announces the new appointment of new Chairman and office bearers (2011-2012)
RICS (Royal Institution of Chartered Surveyors) announced today the new Chairman and office bearers for its Thailand board were elected on 13 January, 2011 (Thursday) for a one year term of office with immediate effect.
Patima Jeerapaet, PhD, MRICS, MVAT, MTVA, is Managing Director of CIT (Colliers International Thailand) Property Consultants Co Ltd, a global real estate services firm equipped with more than 23 years of knowledge of Thailand’s property market. In addition, he also chairs the Property Committee of Joint Foreign Chamber of Commerce in Thailand (JFCCT) in monitoring and enhancing Thailand’s property industry’s competitiveness. He also serves as board member of Thai-Singapore Chamber of Commerce and Thai-Swedish Chamber of Commerce to promote Thai properties to Singapore and Swedish investors.
The newly elected office bearers and members of Thailand Board are as follows:
Major Office bearers:
Chairman: Patima Jeerapaet
Honorary Treasurer: Navaporn Wongurai
Honorary Secretary: Nicholas Brown
Elected Members:
Apibarn Ariyakulkarn
Roy Beevor
Sonthaya Vanichvatana
Janet Geddes
Ian Hamilton
Simon Landy
C P Leong
Sutee Sumatanonsak
Dr Patima Jeerapaet, the first Thai elected as Chairman of RICS Thailand, says “I am honoured to take up the post and hope to build on the achievements of Ian Hamilton and the executive team. Having built a presence in Thailand for more than ten years, RICS Thailand has over 100 Chartered Surveyors practicing in the country. I foresee the market of Thailand will continue to grow and become one of the key markets in South East Asia. I am looking forward to further strengthen membership services locally and create a strong RICS brand by working closely with fellow board members and staff of RICS.”
About RICS & RICS Asia
RICS (Royal Institution of Chartered Surveyors) is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity – providing impartial, authoritative advice on key issues affecting businesses and society.
RICS is the worlds’ leading qualification when it comes to professional standards in land, property and construction. With over 150,000 members globally, RICS represents, regulates and promotes the work of property professionals throughout 146 countries.
RICS Asia supports a network of over 11,000 individual professionals across the Asia region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members.
RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People’s Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam.
Monday 17 January 2011
Investing in Thai property market, be ready for the big changes, AEC 2015!!
Thailand’s property market is considered one of the major business sectors in Thailand which is inevitably on the boom with the economical development of the country.
Thailand has passed its turbulences in year 2010 which is considered one of the most difficult years in the Thai history as well as for businesses in all sectors. Surprisingly, despite the political turbulence, many huge deals were closed during 2010. In fact, some property investment sales did hit the highest record. This is an indication of high confidence in the property sector as investing in a property is a long term investment.
The property market is mainly categorized into 5 different sectors which includes: industrial, commercial, residential, retail and hospitality. But when property is talked or discussed about, the general public will most likely perceive on the residential market or condominiums. So, what about the property market in Thailand? Will prices go up in 2011? Is there really scarcity of land? Is it equilibrium for the property market and what will happen in 2011?
We have so many questions on our minds. There is no doubt that prices of property along the BTS or MRT lines will increase continuously because of the limited amount of land and the high demand. This is a scarcity amongst developers because these are considered the prime locations. However in the future, should these lines expand, I believe that land along the extended lines would then become more attractive for developers.
For year 2011 - the right defined statement would be “Certainty is uncertainty”. We should be ready to surf the changing wave if there is any!! We should plan for uncertainty and be ready to apply all strategies for each challenge and each circumstance.
Judging from the Q4, 2010, I would view the Thai property marketing in each sector for below for 2011.
Industrial
Many key industrial estate developers were able to achieve their targets in 2010. The overall industrial market seemed to have improved and growth is expected by 10% in 2011, especially in manufacturing, automobile and parts, electronics and IT businesses. There are also more demand from foreign and local manufacturers for the expansion of industrial estates. The many concern for the industrial sector would be Environment Impact Assessment (EIA) and Health Impact Assessment (HIA).
Commercial
The office market has improved slightly especially for Grade B office buildings because of the extended mass transit. Many office buildings outside the CBD seem to attract interest from Tenants as well. Within the CBD, many office buildings are adopting the trend of renovating their office buildings with a more modern look to retain existing tenants as well as attract new tenants.
Where Regional Operating Headquarter (ROH) is concerned, no clear movement can be seen as yet but can expect to see results with 2011. This year should be a brighter year for the office market.
Residential
The overall residential market in 2010 mainly condominium was on the rise. In 2011, this will rather be stable. Condominium prices ranging between 80,000 – 120,000 baht per square meter will still be available within the city while on the outskirts prices would range between 50,000 – 75,000 baht per square meter. Upper-end condominiums for foreign investment have slowed down because of the strong Thai currency there are still some investors who look for quality products at bargained prices. This year we can expect for developers to gear their interest to building town houses or detached houses along the new mass transit extension lines.
Retail
The retail market has shown continuous improvement. Local demand continue to grow strongly but for tourists, this might be a little hesitant because of the strong Thai currency. There are many newly launched retail projects, for example supporting retail space in residential projects and community malls along the new mass transit lines.
Many big retailers and department stores are also adopting the trend to renovating / face lift / re-branding their stores to attract shoppers both in the capital and upcountry. There are also a number of new shopping centers which is likely to be completed in 2011.
Hospitality
For hotels industry in 2011, we can expect that there will be approximately 1,662 new rooms for the upper scale and luxury hotel. Hotel investors look for long term investment. Please do not perceive this to be an oversupply because the expected payback period for hotel investors in between 10 – 12 years. Hotel investors invest with an objective for capital gain in the future. The low labor costs, low material costs and low import cost since 2010 are striving hotel investors to seize the opportunity for construction.
Like other businesses, the property market also has its life cycle. Certain properties within the main business and shopping areas are also starting to rejuvenate their assets such as properties within the Sam Yan area of Chulalongkorn University properties, Bangkok Bazaar and Langsuan of Crown Property Bureau, some old shop house projects along Sukhumvit Roads and other main roads.
Nevertheless, there is another sector that the locals should look into as another choice of property investment. This is the agricultural sector which is rather sensitive, complex and controversial with regards to property rights and cultural rights. This is an opportunity for the local property investors and is a way for life’s sustainability as well.
Another major change in the Thai property market we look towards in 2011, is the possibility of leasehold extension that will encourage and assist Thai developers, Thai investors as well as foreign investors in their property investment. This will also bring in foreign direct investment into the country.
Looking a little bit further, the major change in 2015 would be the Asian Economic Community (AEC) which will positively impact the property market in all sectors as well as transportation and logistics. The high speed trains from China and the roads connecting countries will hugely benefit Thailand. AEC will open up businesses amongst the Asian countries. Geographically with Thailand in the center of many countries, Thailand will have a larger distribution channel. The public may be scared of over supply of condominiums but once AEC is introduced this will no longer be on ‘over supply’ as we will have more demand for residential. There will be a higher possibility and opportunities for Commercial, Industrial, Retail and Hospitality sectors as well..
Some of the property investment tips are:
1. Aim for best price, high return with low risks
2. Be well aware of the rules & regulations
3. Select for good location
Use them wisely and they could make you rich.
Dr. Patima Jeerapaet is the Managing Director of Colliers International Thailand
Please feel free to drop your comments or questions to patima.jeerapaet@colliers.com
Thailand has passed its turbulences in year 2010 which is considered one of the most difficult years in the Thai history as well as for businesses in all sectors. Surprisingly, despite the political turbulence, many huge deals were closed during 2010. In fact, some property investment sales did hit the highest record. This is an indication of high confidence in the property sector as investing in a property is a long term investment.
The property market is mainly categorized into 5 different sectors which includes: industrial, commercial, residential, retail and hospitality. But when property is talked or discussed about, the general public will most likely perceive on the residential market or condominiums. So, what about the property market in Thailand? Will prices go up in 2011? Is there really scarcity of land? Is it equilibrium for the property market and what will happen in 2011?
We have so many questions on our minds. There is no doubt that prices of property along the BTS or MRT lines will increase continuously because of the limited amount of land and the high demand. This is a scarcity amongst developers because these are considered the prime locations. However in the future, should these lines expand, I believe that land along the extended lines would then become more attractive for developers.
For year 2011 - the right defined statement would be “Certainty is uncertainty”. We should be ready to surf the changing wave if there is any!! We should plan for uncertainty and be ready to apply all strategies for each challenge and each circumstance.
Judging from the Q4, 2010, I would view the Thai property marketing in each sector for below for 2011.
Industrial
Many key industrial estate developers were able to achieve their targets in 2010. The overall industrial market seemed to have improved and growth is expected by 10% in 2011, especially in manufacturing, automobile and parts, electronics and IT businesses. There are also more demand from foreign and local manufacturers for the expansion of industrial estates. The many concern for the industrial sector would be Environment Impact Assessment (EIA) and Health Impact Assessment (HIA).
Commercial
The office market has improved slightly especially for Grade B office buildings because of the extended mass transit. Many office buildings outside the CBD seem to attract interest from Tenants as well. Within the CBD, many office buildings are adopting the trend of renovating their office buildings with a more modern look to retain existing tenants as well as attract new tenants.
Where Regional Operating Headquarter (ROH) is concerned, no clear movement can be seen as yet but can expect to see results with 2011. This year should be a brighter year for the office market.
Residential
The overall residential market in 2010 mainly condominium was on the rise. In 2011, this will rather be stable. Condominium prices ranging between 80,000 – 120,000 baht per square meter will still be available within the city while on the outskirts prices would range between 50,000 – 75,000 baht per square meter. Upper-end condominiums for foreign investment have slowed down because of the strong Thai currency there are still some investors who look for quality products at bargained prices. This year we can expect for developers to gear their interest to building town houses or detached houses along the new mass transit extension lines.
Retail
The retail market has shown continuous improvement. Local demand continue to grow strongly but for tourists, this might be a little hesitant because of the strong Thai currency. There are many newly launched retail projects, for example supporting retail space in residential projects and community malls along the new mass transit lines.
Many big retailers and department stores are also adopting the trend to renovating / face lift / re-branding their stores to attract shoppers both in the capital and upcountry. There are also a number of new shopping centers which is likely to be completed in 2011.
Hospitality
For hotels industry in 2011, we can expect that there will be approximately 1,662 new rooms for the upper scale and luxury hotel. Hotel investors look for long term investment. Please do not perceive this to be an oversupply because the expected payback period for hotel investors in between 10 – 12 years. Hotel investors invest with an objective for capital gain in the future. The low labor costs, low material costs and low import cost since 2010 are striving hotel investors to seize the opportunity for construction.
Like other businesses, the property market also has its life cycle. Certain properties within the main business and shopping areas are also starting to rejuvenate their assets such as properties within the Sam Yan area of Chulalongkorn University properties, Bangkok Bazaar and Langsuan of Crown Property Bureau, some old shop house projects along Sukhumvit Roads and other main roads.
Nevertheless, there is another sector that the locals should look into as another choice of property investment. This is the agricultural sector which is rather sensitive, complex and controversial with regards to property rights and cultural rights. This is an opportunity for the local property investors and is a way for life’s sustainability as well.
Another major change in the Thai property market we look towards in 2011, is the possibility of leasehold extension that will encourage and assist Thai developers, Thai investors as well as foreign investors in their property investment. This will also bring in foreign direct investment into the country.
Looking a little bit further, the major change in 2015 would be the Asian Economic Community (AEC) which will positively impact the property market in all sectors as well as transportation and logistics. The high speed trains from China and the roads connecting countries will hugely benefit Thailand. AEC will open up businesses amongst the Asian countries. Geographically with Thailand in the center of many countries, Thailand will have a larger distribution channel. The public may be scared of over supply of condominiums but once AEC is introduced this will no longer be on ‘over supply’ as we will have more demand for residential. There will be a higher possibility and opportunities for Commercial, Industrial, Retail and Hospitality sectors as well..
Some of the property investment tips are:
1. Aim for best price, high return with low risks
2. Be well aware of the rules & regulations
3. Select for good location
Use them wisely and they could make you rich.
Dr. Patima Jeerapaet is the Managing Director of Colliers International Thailand
Please feel free to drop your comments or questions to patima.jeerapaet@colliers.com
Subscribe to:
Posts (Atom)
