after China opened the country resulting in the office and condominiums in the Huai Khwang - Ratchada area Including the Rama 9 - Phetchaburi area has returned to bustling again. When Chinese people flock to rent-buy business, trading, hospitality and real estate in Thailand to diversify investment abroad.

Panya Jankitwattanalert Executive Director and Head of Office Space Brokers, Knight Frank Thailand Co., Ltd. said that the office building market this year has improved due to the return to work in the offices of many organizations, resulting in increased rental demand. As a result, the space occupancy rate has increased accordingly.

Especially in the Ratchada-Rama 9 location. Because Chinese customers are interested in investing in Thailand in 3 main businesses: trading, hospitality and real estate, including multinational companies. Foreign financial institutions are interested in using Thailand as a business hub in Southeast Asia.

“The motivation that makes foreigners want to live and do business in Thailand is Cost of living is cheaper than Singapore. Both in terms of food, accommodation, offices, etc., this is a good opportunity for the real estate business. Both office and condo

  Panya stated that this year, the supply of offices entering the market amounts to 400,000 square meters, able to adequately support the needs of customers. At present, 30% of foreign customers are Chinese, 20% are the main ones, and the remaining 10% are other nationalities. regarded as new demand That comes to create more bustle in the market, and 70% are tenants from old buildings who want to move to new offices according to the cycle. from before The office market has been affected by the COVID-19 situation for some time.

However, from market analysis in Phetchaburi-Rama 9-Ratchada locations, it was found that in Q4/2022, the total rental area was 937,222 sq.m., the vacant area was 178,942 sq.m., the rental fee was 732 baht/sq.m./ month Leased area 758,280 sq.m., 80.9% occupancy rate from 35 buildings, while in the first quarter of 2023, the total leased area was 937,222 sq.m., with 189,814 sq.m. of available space, rental fee 723 baht/ sq.m./month Leased area 747,408 square meters, 79.7% occupancy rate from 35 buildings

with demand from Chinese tenants The proportion is about 20%, representing an area of 19,000 square meters in the past 1 year, while the building with the best performance in the first quarter of 2023 is The 9th Tower. m. and Skyy9 Tower has a leased area of 1,800 square meters, etc.

Bodinthorn Juangroongruangkit Chief Executive Officer of Real Asset Development Co., Ltd. said that the company launched The Stage Made by Me condo in Ratchada-Huai Khwang area worth 2,130 million baht on Pracharat Bamphen Road, an area of more than 2 rai. It is a 31-storey building with 454 units and 4 units of shops, with a usable area starting from 26-52 square meters, focusing on both Thai and foreign customers. Especially Chinese, Hong Kong and Taiwanese who like to live in this area, it is expected that within 1 year, sales will be 50-60%.

“This is the second project under The Stage brand. The first project, The Stage Mindscape Ratchada-Huay Kwang Under construction with more than 50% sales.”

In addition, there are also condos of SC Asset Corporation Public Company Limited on Ratchada-Rama 9 (Tiam Ruam Mit) location near the Cultural Center MRT under the brand COBE (COBE), which is a new brand launch. Focus on building and developing housing in the form of a community targeting the new generation. Focusing on the design of common areas for urban people and creating a sustainable living society.

for Cobb Ratchada-Rama 9 It is considered a big project of SC Asset. There are 9 buildings in total, starting at 2.39 million baht, which is the price level that meets the needs of buyers who still have tangible purchasing power.

Source:https://www.bangkokbiznews.com/property/1070119

Date 25/05/2023