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Bangkok rental yields remain strong with a gross average of 5.9 per cent, according to property consulting firm CB Richard Ellis.
The average rental yields have stayed within a narrow band between five and six per cent over the past six quarters with one-bedroom units achieving higher yields in excess of 6 per cent and four-bedroom units achieving lower yields around three per cent.
While the international property market is crawling at a snail pace, business is booming in Thailand. Sansiri is launching another condominium project immediately due to the unprecedented take up rate for its first Phuket venture.
CBD which includes Lumpini, Silom, Sathorn and early Sukhumvit will be the preferred area, other areas will be assessed after the flooding is over. Demand for high rise condominiums is likely to rise as people may want to buy them to use as a second home in the city center.
Purchasers considering buying residential properties in the future will pay more attention to the product, design features and flood protection measures of individual developments. Housing developers will also need to ensure flood prevention measures and features are incorporated when launching new developments.
Due to continued flooding, the MBK shopping centre has reported a slight decline in number of tourists and is revising its strategic plan for its recently announced property development. The company is reviewing its decision to launch its project on 32 hectares of land adjacent to the Riverdale Golf and Country Club in Pathum Thanis Bang Kradee area.
Pattaya’s largest resort condominium project was unveiled on Saturday night at the launch party held at the Centara Grand Ballroom at Wong Amat, Pattaya.
The Mayor of Pattaya, Khun Ittipon Khunpluem, cut the ribbon to reveal the giant model of the project, he went on to welcome Blue Sky’s commitment to Pattaya, and praised the concept saying he was sure it would be successful. In recognition of the devastating flooding throughout Thailand, Blue Sky director Mohan Chawla donated a cheque for THB100,000 (US$3,243) to Mayor Itipon for the food victims’ relief fund.