JLL predicts 10 world-class mixed-use properties that will transform Bangkok as a destination for investors. and skilled workers Foreign goods in 2018, Grade A offices of more than 900,000 square meters, shopping centers of more than 300,000 square meters.The Thai real estate market will clearly signal its readiness for adjustment during the next 12 months. Through pushing for domestic policy and building confidence in the domestic market. In response to the current global macro-economic conditions that are still fluctuating.Important statistics from the past year 2023 show the dynamic movement of the Thai real estate market. Including significant growth of 66% year-on-year in investment volumes in target industries. The number of tourists increased 152% compared to last year, exceeding the government's target.Mr. Michael Glancie, Managing Director of Jones Lang LaSalle (Thailand) Company Limited (JLL), said that despite facing challenges from the global economic situation, But Thailand has always shown outstanding potential. With the determination of policy makers to upgrade the infrastructure strategy and grade A real estate in Bangkok to be of high quality. It will become an important driving force for growth. It is also something that will help alleviate the impact of macroeconomic fluctuations, high costs, and other geopolitical factors.Throughout 2024, JLL expects the key growth drivers to be which will influence the Thai real estate market will consist of 4 factors as follows:The era of mega projectsIn 2024, the Thai and Southeast Asian real estate markets will be increasingly influenced by strategic improvements in infrastructure and the quality of Grade A real estate in Bangkok. Up to 10 projects worldwide. The development of these projects is expected to add more than 900,000 square meters of Grade A office space.More than 300,000 square meters of shopping centers, 5,400 luxury condominium units and 5,900 luxury hotel rooms in the Central Business District by 2028. The emergence of these premium real estate projects will make Bangkok It has become an attractive destination for investors. Multinational corporations (MNCs) and highly skilled workers from abroadOld buildings and challengesWith over 60% of office space in Bangkok and the surrounding area being more than 20 years old, premium supply entering the market poses a challenge to the competitiveness of these aging buildings. Office building owners with investment strategies and creative building management Brings a competitive advantage and stands out from other competitors in the market Therefore, strategic building renovation investment planning is extremely important. To meet the changing needs of the marketData from JLL shows that An old office building that is more than 10 years old in the Central Business District and has undergone major renovations. Able to maintain rent levels close to the market average. While the office buildings have not been renovated and remain in their original condition. Still seeing tenants moving out. Including the continuous reduction of rent, the rental difference of the building. Both of these segments increased by 8.8% as of Q4 2023. This trend is not limited to the office market. due to current Flight-to-quality and Flight-to-green It is starting to appear more in the market of shopping centers and logistics warehouses. It has the potential to expand further into the hotel and residential sectors.Integrating ESG conceptsESG concepts have become essential in the Bangkok office market. Developers and investors are striving to meet standards through certifications such as LEED and WELL for multinational companies, which is a key demand driver for office and logistics space. Office space is often designated as only ESG-certified, with JL L's database indicating that over 90% of new office leases over the past five years have occurred in green buildings. With average rents fetching 14% higher than similar buildings, this puts even more pressure on older buildings that are not yet ESG certified.Foreign investment surgesIt is undeniable that foreign investment is very important to the growth of the Thai real estate market. This is supported by significant capital flows into Thailand. In 2023, over 65% of office space will be leased by multinational companies. Moreover, foreigners purchased no less than 10% of the number of condominium units traded in Bangkok last year, as Thailand continues its efforts to attract foreign investment.Mr. Rattawat Kuwichitsuwan Senior Assistant Managing Director of Hotel Advisory and Asset Management Services, Jones Lang LaSalle Co., Ltd. (JLL), said that over the past 10 years, more than 47% of sales of assets that were not vacant land came from the hotel business. This is a testament to the strong investment attraction in the tourism sector and the strong basis for our rapid recovery. If the form of property ownership of foreigners in Thailand is more developed. It will provide even more opportunities for foreign investors in the tourism and service related industries.Mr. Anawil Jiamprasert Head of the Research and Consulting Services Department of Jones Lang LaSalle (Thailand) Company Limited (JLL) said that in the face of global economic fluctuations The Thai real estate market has not only remained stable but is also ready to develop further in a variety of assets, making Thailand an important foreign investment destination in the Asia-Pacific region.This is an eye-catching change for the downtown area of Bangkok!!!

"Vice President of the Supreme Administrative Court" advises Construction permit withdrawal case “Ashton Asoke Condo” has 3 months left to find a solution. If there is no progress, the BMA may have to order the demolition of the part of the building that is taller than the road width to be completed within 90 days.Today (March 6, 2024) Mr. Prawit Bunthiam, Chairman of the Tort Litigation and Other Liability Division at the highest administrative level. Help work temporarily in the position of Vice President of the Supreme Administrative Court. Addressing the issue of enforcement "Ashton Asoke Case" in which the Supreme Administrative Court ruled to revoke the construction permit said that in this case the court ordered the revocation of the construction permit for the Ashton Asoke building. because it was seen that It is an unlawful issuance of a license.Therefore, legal enforcement is a matter for Bangkok Metropolitan Administration (Bangkok) to proceed in accordance with the Building Control Act. The court did not order that it must be demolished or that it would enforce the case in any other way.“So about 3 months from now. It will be due according to the judgment that ordered the BMA, Ananda FM Asia Asoke Company Limited and the Mass Rapid Transit Authority of Thailand (MRTA) to expedite the resolution of the problem in accordance with the Building Control Act. within 180 days

“L.W.S.” recommends 5 factors in choosing to buy a condo for rent to meet the living habits of the new generation who prefer to rent rather than buy.Praphansak Rakchaiwan, Managing Director of L.W.S. Wisdom and Solutions Company Limited or L.W.S., said about the trend of buying homes for the new generation that From the results of surveying the behavior of living in residential condominiums over the past 2-3 years, the service research team (Service Design Center: SDC) of LWS found that the new generation of people, Gen Y & Gen Z (First Jobber) At present there is more demand for renting housing than buying. The survey results found that People in this group make up more than 50% of renters and have the ability to pay an average rent of 6,000-10,000 baht/month. Their average monthly income is 20,000-40,000 bahtThis is because people in this group have a need for housing that meets their lifestyle needs. who are more likely to be alone and like living quarters that are comfortable Use technology that meets living needs. Including the behavior of living a hybrid life (Hybrid Work) and being flexible (Flexible) in working and living. At the same time, they do not want to be burdened with high costs. that will affect daily life Renting is therefore a better answer than buying a residence, which currently has a higher price level in line with the land price situation. and higher costs of housing development From the LWS research report, it was found that the average housing price in Bangkok-metropolitan area in 2023 was 5.49 million baht per unit, an increase of 24% from the average price of 4.43 million baht per unit in the year. 2022 Current housing prices have increased. higher than the purchasing ability of the new generation who just started working This causes this group of people to choose to rent rather than buy housing. This is an opportunity for investors, currently more than 65% of investment buyers are Gen that provides an average return on investment of 4-6% depending on the locationFrom the behavior of the customer group that is renters who want housing that meets the needs of renters who want housing that is in a convenient location. Able to meet the needs of living alone that comes with convenience and technology Choosing to buy a residence, especially a condominium for investors who are investors, should take into account the needs of tenants. From the results of LWS's survey of tenant behavior, it was found that there are 5 important factors for the development and selection of housing for rental that meets the needs of the tenant group as follows:1. Location with potentialIt is the first factor that investors must consider and evaluate carefully because it is the key factor that determines the value of a condominium. They should choose to invest in a condominium in a location that has the potential to meet the lifestyle needs of the Gen Y & Gen Z group, especially near the electric train line. and close to various conveniences, and from a survey by LWS, it was found that the behavior of more than 90% of residents considers choosing a residence based on the convenience of traveling to and from their workplace/educational institution. More than 5 kilometers or traveling no more than 20 minutes and in the case of renting It will be a long-term rental with no change of residence. Due to familiarity with that area  2. Real estate developers and professional building management companiesYou should choose a condominium from a reliable real estate developer that is well known in the market. and has the idea of developing a residential project that places importance on the environment from design, construction, and sustainable living. Including providing various after-sales services. Through technology channels and a team of building management companies with expertise in managing and maintaining common areas. Able to add value (Value Added) to the project very well. It will build confidence among investors. and makes it easier to rent out   3. Development of SMART LIVING apartmentsThere are complete amenities in the common areas. According to the behavior of the new generation, they place importance on the convenience of living, with more than 50% wanting an IoT device that can control electrical appliances in their residence. There is a common area that meets the needs of the new generation, namely CO -WORKING SPACE with WIFI to support HYBRID WORK. There are both single and group seating, fitness, swimming pool, automatic service kiosk. and should be open 24 hours to meet the lifestyle needs of the new generation and help attract more tenants. Ready to adjust the rental price to be higher.  4. Professional real estate agentYou should choose to use services with rental management service experts. or a professional real estate agent providing complete services from marketing Can screen potential tenants and can be rented out quickly From the L.W.S. survey results, it was found that 48% of respondents thought that finding technicians to repair/install equipment was a hassle for condominium residents. Next, 44% was moving things. It's a hassle for condominium residents and they need help. Therefore, having a professional assistant to facilitate coordination on behalf of investors from CHECK-IN day until CHECK-OUT day is another matter that investors should not overlook.5. Special services for rentersIn addition to decorating and maintaining rental rooms in good condition, Investors should provide special services during the rental period, such as free air conditioning cleaning services every 6 months, and maid cleaning once within the 12-month lease period. In addition to getting satisfaction from the tenants, it can also help maintain the room. Another way Offer lease renewal incentives, such as rent discounts or free parking. It will help encourage current tenants to renew their leases. Avoid the expense of finding a new tenant every year.“The 5 factors mentioned are alternatives for current housing development, especially in the residential condominium type. that both real estate entrepreneurs and real estate buyers For investment must be taken into account.”From the behavior of the new generation we call Generation Rent, a group that has the ability to rent more than buy. Therefore, developing projects to sell to investors in order to rent out. Therefore, it is one option for real estate entrepreneurs to develop projects to meet the needs of both investors and tenants.Source:https://www.bangkokbiznews.com/property/1116023at 05/3/2024

Property DNA reveals revenue and profit figures for 10 real estate companies in 2023. "Sansiri" holds the title with the highest profit of 6 billion. "AP" ranks second in both revenue and profits. While "Supalai" is ranked 3rd with revenue of 31 billion.Surachet Kongcheep Property DNA said that 2023 was considered a challenging year due to the impact of the recent COVID outbreak, affecting Thai people's decision to purchase housing. Either a house or a condominium "delays" the purchasing decision. This, along with the strictness in considering home loans by various financial institutions, has been a challenge for the housing project development business market in the past year.This has caused many entrepreneurs to change their business plans, including reducing the launch of condominium projects. and increase the proportion in housing projects Including adding more expensive projects for sale. When the results came out, there were some operators who had increased income and profits compared to 2022. In 2023, Sansiri was the operator with the highest profits at 6,060 million baht, an increase of 42%. Two AP (Thailand) is ranked second in revenue and profit, with income of 38,399 million baht, decreasing from 2022 by approximately 1%, third place Supalai. There are profits and incomes in 2023 at 31,818 million baht, a decrease of 10%, and profits at 5,989 million baht, a decrease of 15% compared to the previous year.3. Supalai ranked 3rd in profit and income, which decreased compared to 2022. Income in 2023 was 31,818 million baht, a decrease of approximately 10%, and profit was 5,989 million baht, a decrease of approximately 15%. Compared to the previous year