News

Bangkok properties have always been a favored investment due to low prices and high returns (with starting prices of HK$550,000 for a freehold unit, rental yield of 6% p.a.). Due to popular demand, we hosted another Bangkok property exhibition and seminar in Hong Kong in partnership with Thailand’s largest property developer, Sansiri.

The featured projects were Base Park West and Garden Square, the latest premium residential development by Sansiri in Sukhumvit soi 77. This project has a concept similar to that of the Residence Bel-Air in Cyberport Hong Kong, and is designed with greenery and expansive spaces as its central themes. Inspired by the iconic Central Park in New York, Base Park is a master-planned township developed to provide Bangkok residents with a haven away from the hustle and bustle of Bangkok city. Green parks, canal and other water features, luxurious town homes and neighborhood malls are integrated features of the development, creating a resort-like environment in one of Asia’s busiest cities. The Sukhumvit neigborhood is known to attract Japanese tenants, and boasts 2 international schools.

Golden Emperor provided its clients with the rare opportunity to own a freehold unit in one of the Base Park residential developments, Base Park West. Priority selection of choice units, special discounts and benefits were offered at the exhibition. A total of more than 100 guests attended the event and a large number of units of The Base Park West have been sold to our clients.

Above: Kingston Lai, Managing Partner of Golden Emperor presented information onthe Bangkok property market and the Base Park West project

Above: Terence Chan, Sales Director & Partner of Golden Emperor Properties presented a Cantonese version of the investment information to local investors

Above: Attending guests were provided a special deal for investment purchases of Base Park West made during the two-day exhibition

The Base Park West has sold out completely during the weekend exhibition.

Prestige Singapore Magazine quotes Golden Emperor & Asia Bankers Club CEO Kingston Lai’s viewpoints on the Phuket property market.

Article sourced from Prestige Singapore magazine (Wealth supplement) – August 2014 issue

Source: c9 Hotelworks (Sept 2014)

Source: Bangkok Post (18 Sept 2014)

Land for property development in Bangkok from lower Sukhumvit Road to Ekamai is in demand, with prices hitting another record high in the first half of this year at 1.8 million baht per square wah, four times higher than the appraised price.

Kitisak Jampathippong, chief executive of property consultant Century 21 Thailand, said the area from Nana to Ekamai was the hottest location where developers sought prime plots.

“Land prices in this area have risen significantly by a higher percentage than those in other locations, as there are new consecutive developments like EmQuartier upcoming in the Phrom Phong area,” he said.

Phloenchit Road and lower Sukhumvit will continue to be prime locations. Despite high land prices, developers are prepared to invest in projects if the cost is feasible.

The locations are popular with expats and many offices. Condo buyers in this area are in the upper-end segment, preferring a large unit of 50 square metres or more.

A land transaction in May represented another new high in lower Sukhumvit at 1.8 million baht per sq w. The plot on Sukhumvit Soi 6 was acquired by Quality Houses Plc.

Last year, land prices on Sukhumvit Soi 6 finalised at 1.6 million baht per sq w, while the appraised land price by the Treasury Department was only 445,000 baht.

“There was a plot on Sukhumvit Soi 24 where the price was 2 million baht per sq w, the highest in the country. But it was an exceptional case,” said Mr Kitisak.

The second-highest land price this year was on Soi Sala Daeng at 1.5 million baht per sq w, up 25% from 1.2 million baht last year. The appraised land price was 800,000 baht. It was followed by Sukhumvit Soi 36 at 1.3 million baht per sq w in the first half of 2014, up from 1.2 million baht last year. Appraised land price was 390,000 baht.

“New mass-transit lines have triggered an interest in outer Bangkok locations. Current land prices are future prices in the next 3-5 years, as the locations are seen as a prospective economic area,” said Mr Kitisak.

They include Phetkasem-Charan Sanitwong and Bang Pho-Bang Sue, where the Blue Line is being built, and the Bang Na intersection, where a shopping centre, Bangkok Mall, will be developed.

Outside lower Sukhumvit, the most popular locations were Thong Lor-Ekamai, where land prices were between 1.2 and 1.8 million baht per sq w, followed by Phaya Thai-Phahon Yothin-Sanam Pao-Saphan Kwai (750,000 to 850,000 baht). The third most popular location was Sathon-Sala Daeng-Suan Phlu.

Source: Bangkok Post (17 Sept 2014)

Bangkok condominium demand is expected to remain strong even with another 30,000 units set to be launched by year-end.

Poomipak Julmanichoti, managing director of the consultancy Plus Property Co, said despite the take-up rate averaging only 68% in the first half of 2014, slightly less than the 70% rate of the past two years, it was still satisfactory and reflected relatively healthy purchasing power and consumer confidence.

“The condo market in these final four months is expected to see a very good trend, as seen from our resale condo event in June, where sales surpassed the target,” said Mr Poomipak.  “The only negative factor today is the global situation.”

He said gloomy property market sentiment in the first quarter prompted a freeze on sales activities at many projects.  But sentiment picked up in the second quarter once the political situation settled down.

The company sells three resale condo units a day, up from three every town days during the political turmoil and two a day last year.

Thong Lor, Phrom Phong and Ratchathewi see the highest demand for resale condos, while units at the 185 Rajadamri project commands the highest price per square metre at 340,000 baht.

During the first half, 94,718 condo units at 168 projects were offered in Bangkok, newly launched between 2012 and the first half of this year.

Of this number, 35% were completed units, 35% will be finished between now and the end of next year and the rest will be ready starting in 2016.

All of this supply is expected to be absorbed within a year.

Average price per sq m rose by 7%, from 88,000 baht at the end of 2013 to 94,000 baht in this year’s first half.

Units in high-rise buildings, defined as having more than eight storeys, had a higher average price than those in buildings with eight storeys or less – 104,000 and 67,000 baht, respectively.

“Average condo price per sq m neared 100,000 baht during the period, a price that many people considered too high in recent years,” Mr Poomipak said.  “But with land and construction costs soaring each year, now it’s become acceptable”

The skytrain stations with the highest price per sq m in their neighbourhoods were Ratchadamri (270,000 baht); Ratchathewi and Phoenchit (220,000 baht each); and Phrom Phong and Surasak (200,000 baht each).

The central business district saw the highest take-up rate at an average of 74%, with the Silom-Sathorn-Rama IV area on top at 84%, followed by Siam Square-Ratchathewi-Phaya Thai (74%).

The next most-popular zones were northern and eastern Bangkok, each with an average take-up rate of 68%.

The highest in northern Bangkok was the Ngam Wong Wan-Chaeng Watthana area at 80%, while in the eastern Bangkok it was in Kaset-Nawamin/Ram Intra, also at 80%.