News

Above: Bangkok office demand has remained strong despite the weak economy.

Bangkok has some of the cheapest office space in the world, ranked 109th among 126 major cities surveyed in 2016 by international consulting firm CBRE.

In its latest Global Prime Office Occupancy Costs survey in March 2016, the company ranked Hong Kong as the most expensive office location.

Asia continued to dominate the list of the world’s most expensive office locations, accounting for seven of the top ten markets worldwide including China, Japan and India. (continues below)

Although the average rent for prime Grade A offices in Bangkok’s central business district has increased by 6.6% year-on-year and is among the top 25 annual rental increases, Bangkok has been ranked almost at the bottom, dropping four notches from 105th in 2015.

The average prime Grade A rent was 959 baht per square metre per month, roughly one-tenth the cost in Hong Kong (Central) – the world’s priciest market. The rent in Thailand has risen from 900 baht in 2015.

“Bangkok office demand has remained strong despite the weak economy and this, combined with the limited amount of new space completed, will continue to push up rents,” said Nithipat Tongpun, head of office services, CBRE Thailand.

Above: In its latest Global Prime Office Occupancy Costs survey in March 2016, the company ranked Hong Kong as the most expensive office location.

“We expect the global economy to keep growing, and the global service sector, the primary occupier of prime office properties, will continue to expand through periods of volatility,” said Richard Barkham, CBRE’s global chief economist.

The service sector should show particularly strong growth in Asia as pensions and insurance products gain market share so occupancy cost growth will continue to trend upwards at a moderate pace.

“With low vacancy rates and lack of prime space in Hong Kong, this has allowed landlords to push rents upwards,” said Henry Chin, head of research, CBRE Asia Pacific.

“Mainland Chinese financial firms have been seeking prime office space in Hong Kong to support their overseas business expansion and to cater for the clients’ need to manage their capital outside China.”

Above: Mainland Chinese financial firms have been seeking prime office space in Hong Kong.

Source: Bangkok Post

Demand from Thai buyers for British properties will continue to rise regardless of whether Britain votes to leave the European Union tomorrow, say property consultants.

“A Brexit scenario could affect market sentiment in the short term without a significant effect on property prices,” said Phanom Kanjanathiemthao, managing director of Knight Frank Chartered (Thailand).

Attractive investment gains and rental returns of as much as 10% a year should continue in capital London, he said.

London property has drawn great interest from Thai investors in recent years.

The property market seems to be pausing as buyers and sellers await the result of the referendum in Britain.

“The market is softening a little bit but that doesn’t mean a fall in prices. A negative impact from Brexit will be a weakening of the pound, which would be a good chance for overseas buyers to get a lower price from the depreciation,” Mr Phanom said.

Nicholas Holt, head of research for Asia-Pacific at Knight Frank, said the situation was similar to London’s mayor election, which froze property activities for a while.

“If Britain remains [in the EU], activities will rebound. If it exits, the pound will fall by around 15-20%,” said Mr Holt, a British-born expatriate in Singapore.

Mr Phanom said a falling pound would boost property demand in Britain among foreign investors and buyers, possibly leading to a rise in prices.

According to Knight Frank, Savills and Jones Lang LaSalle, British property will remain attractive to high-net-worth buyers. Residential prices in prime central London areas are expected to grow by 19-21% from 2016 until 2020, with properties in prime outer London areas set to rise by 18-22%.

Thais have bought a huge number of British properties, especially in London, with more than 80% of properties bought for their children studying there. The most popular educational institutions among Thais are King’s College, Imperial College and University College London.

According to Knight Frank’s Wealth Report 2016, Thailand’s outward investments rose by 1,054% to US$76 billion from 2005-15, second only to China’s growth of 1,471% to $1 trillion.

The number of Thai ultra-high-net-worth people with assets of more than $30 million increased by 135% to 572 in 2015 from 243 in 2005. The figure is expected to rise by 80% to 1,030 in 2025.

The growth of super-rich Thais was higher than Asia’s average of 134%. Asia was ranked the second-largest area for growth following Russia and the Commonwealth of Independent States countries.

Thais with assets of more than $1 billion totalled nine in 2015, up from four in 2005, and the number is expected to rise to 16 in 2025, while those with assets of $1 million totalled 20,700, up from 8,800 in 2005.

Last year Vancouver was ranked the city with the largest growth in the prime residential index with an increase of 24.5%, followed by Sydney (14.8%) and Istanbul (13.5%), while Bangkok and Phuket were ranked 15th and 25th with increases of 6.3% and 4.1% respectively.

In Asia, Bangkok was second only to Shanghai (14.1%).

Souce:Bangkok Post

Above: Agent have received higher offers on property than all other offers made since the start of the year.

A flood of foreign money will pour into London’s post-Brexit housing market, according to one of the capital’s oldest property agents.

Foreign investors are apparently seeing huge savings after the value of the pound plummeted following the leave vote.

Luxury estate agent John Taylor said since referendum, they have received higher offers on property than all other offers made since the start of the year.

Above: A flood of foreign money will pour into London’s post-Brexit housing market

John Taylor managing director David Adams said: “I was inundated with more calls from the Middle East on Friday than any other day of my career.”

Mr Adams said he fielded a number of calls from Jordan, Saudi Arabia, Kuwait and Dubai and had interest from Monaco, France and Switzerland.

He believes that investors are interested in doing business within what they see as a currency window, before the pound recovers value.

He added: “The currency which fell over 11 per cent against US backed currencies appeared a major incentive as the speed of transaction became more important than the price.”

Above: A number of calls from Jordan, Saudi Arabia, Kuwait and Dubai.

According to Mr Adams, the current property market is back to where it was in 2009 when a collapse of the pound against the Euro made investment in London a safe haven during concerns about a Greek default.

Market regional director of agent Anscombe & Ringland Robert Bixby said that while some domestic buyers were waiting to see the impact of Brexit, overseas buyers were making up the demand.

He added: “Over the past three days we have seen a significant rise in the activity from those overseas investors.”

This contrasts with other news from the sector, with estate agent Foxtons yesterday issuing a Brexit-linked profit warning and some big planned developments in question.

Foxtons CEO Nic Budden said: “The result of the referendum has increased uncertainty.”

Above:  The investors are interested in doing business within what they see as a currency window, before the pound recovers value.

Source: Evening Standard

Have you ever dreamed of owning a palatial landed home with a private garden, a fully equipped kitchen, and spacious bed and bathrooms set in a picturesque and nature-filled community? Your dreams can now be fulfilled! With only HKD1.2 million, you can own the home of your dreams in Chiang Mai. Golden Emperor hosted an exclusive launch of Burasiri, the landed properties developed by Sansiri last weekend. Over 200 customers attended over the weekend and learnt how owners can use Airbnb to maximise their rental yield in the informative investment seminar.

Above：We in partnership with Sansiri to held an exhibition and over 200 customers attended over the weekend.

Above: Terence Chan, Director of Golden Emperor, provided a presentation on the Chiang Mai property market.

The BTS Group and Sansiri launched their latest joint-venture project in the heart of the new CBD of Bangkok, Asoke-Ratchada. In partnership with Sansiri, Golden Emperor launched this project for the first time globally last weekend. Our clients in Hong Kong had first pick of units, and over 800 customers attended over the weekend, all quotas for Hong Kong people are sold out. This project launched in Thailand last weekend, and the developer announced  all units are sold out immediately.

Above: Terence Chan, Director of Golden Emperor, provided a presentation on the BTS-Sansiri project and Bangkok’s new CBD

THE LINE Asoke Ratchada launched in Shanghai on June too, many investors came to the event, they believed that Bangkok properties have great potential, and interest in these properties.

Above: Many investor came to Shanghai property event, and bought THE LINE Asoke Ratchada for investment.

THE LINE Asoke Ratchada launched in Thailand this weekend, many Thai visit the showroom, and all units are sold out now.

Above：THE LINE Asoke Ratchada launched in Thailand this weekend, many Thai visit the showroom.