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New land appraisal prices nationwide for 2016-19 are up 27.8% from the levels set in 2012-15, while property on Silom Road remains the most expensive in the country, according to the Treasury Department.

Average land prices in Bangkok are up 15.8% since the last review four years ago, while those in the provinces increased by 27.9% in the same period, Treasury Department director-general Chakkrit Parapuntakul said on Saturday.

The highest appraisal price was on Silom Road from Soi Sala Daeng to Narathiwat Road, at 1 million baht per square wah (four square metres), up 17.6% from 2012-15.

The second highest prices, averaging 900,000 baht per square wah and up 12.5%, are found along Ratchadamri Road between the Ratchaprasong intersection and Khlong Saen Saep; Rama I Road between the Pathumwan and Ratchaprasong intersections, and all of Phloenchit Road.

Outside Bangkok, Hat Yai district in the southern province of Songkhla was the most expensive with land at 400,000 baht per square wah, followed by downtown Chiang Mai (250,000 baht) and Pattaya Beach Road in Chon Buri (220,000 baht).

The least valuable plots were in Omkoi district of Chiang Mai with land appraised at just 10 baht per square wah.

Source: Bangkok Post

Above:A model of the operations control centre is displayed at a ceremony held on Saturday to officially launch the Thai-Chinese train project at Chiang Rak Noi station in Bang Pa-in district of Ayutthaya. (Photo from Bangkok Post)

Thailand and China on Saturday officially launched their joint railway project even though construction will not start until May next year at the earliest.

The launch ceremony was a face-saving gesture intended to live up to pledges by both countries that work would begin this year. However, a disagreement over shareholding and financing of the venture has put it behind schedule.

Deputy Prime Minister Prajin Juntong and Chinese State Councillor Wang Yong led the ceremony at Chiang Rak Noi station in Bang Pa-in district of this central province as a symbol of their commitment to the 530-billion-baht scheme.

They promised no turning back on the project although negotiators of the two countries remain apart on several issues including loan conditions offered by Beijing.

Chiang Rai Noi is slated to be used as an operations control centre for the train to be jointly invested by the two countries.

China also handed over some heavy equipment to Thailand at the event.

Thailand and China have agreed to build two medium-speed lines on the 1.435-metre gauge from Nong Khai to Map Ta Phut in Rayong via Kaeng Koi district in Saraburi and another route from Kaeng Koi to Bangkok.

Transport Minister Arkhom Termpittayapaisith said May 2016 construction start date remained unchanged despite their differences. The work is expected to take about four years.

The two countries have still not settled on their respective stakes in the joint venture, the investment cost and the interest rate on a loan from China.

Beijing wants to charge 2.5% interest while Thailand wants a rate no higher than 2%. Mr Arkom repeated on Saturday that China had promised the best it could offer to Thailand.

Since becoming deputy prime minister in charge of economic policy, Somkid Jatusripitak has put the Finance Ministry in charge of negotiations with China, taking over from the Transport Ministry.

Source: Bangkok Post

Above:Chinese Foreign Minister Wang Yi (Left) shakes hands with Cypriot President Nicos Anastasiades in Nicosia, Cyprus, Dec. 21, 2015. (Photo from:Xinhua)

The Chinese FM, who is on an official visit to Cyprus, was received by President of the House of Representatives Yiannakis Omirou.

During the meeting, the Chinese Foreign Minister noted that Beijing always follows a diplomacy to equally approach big and small countries and pointed out that the relations between China and Cyprus can be an example of good relations between big and small countries.

He also said that the governments of the two countries always maintained good relations and that the cooperation between China and Cyprus is a good one.

House Speaker Yiannakis Omirou underlined that relations of Cyprus with China that go back in time are based on mutual respect and common principles and values.

China’s foreign minister says his country is interested in operating Cyprus’ ports and to help turn the small east Mediterranean island nation into a regional shipping hub.

Wang Yi said after talks with his Cypriot counterpart that China is looking to develop industrial zones around the ports.

Cyprus issued tenders earlier this year for a new operator to manage its largest port in the town of Limassol as a container hub, a cruise liner port of call or to offer sea services.

Cypriot Foreign Minister Ioannis Kasoulides said he conveyed his government’s “great wish” that Chinese companies succeed in the tender.

Kasoulides pointed to the “successful participation” of China’s Cosco in Greece’s main port of Piraeus, where it has a concession to operate two of three container terminals.

Source:Manila Bulletin

Back by popular demand, Golden Emperor and Sansiri hosted its second Thai language class for their customers.

Over 50 clients attended this session and learnt about the basics of the language and practical terms for tourists and business travelers to communicate with the locals.

Above: The Thai language teacher covered the basics of the language such as numbers and letters

Abovc: Over 50 customers attended the Thai language lesson

Brisbane and Darwin have shifted from balanced markets in favour of buyers, while Sydney and Melbourne remain favourable for sellers, according to the latest Commonwealth Bank CoreLogic RP Data Home Buyers Index.

The October quarter (August to October) Home Buyers Index – which provides an indication of how well market conditions are suited to buyers or sellers – found that while the national property market continues to be balanced, there was a slight shift in favour of buyers.

At a state-level, the Queensland, Western Australian, Tasmania and Northern Territory property markets remain in favour of buyers; Victoria and the Australian Capital Territory favour sellers; while New South Wales and South Australia remain balanced.

Brisbane and Darwin recorded the most significant movements quarter-on-quarter, moving from balanced markets to ones that favour buyers; Adelaide has shifted in favour of sellers after previously being a balanced market. Sydney, Melbourne and Canberra remain sellers’ markets.

Dan Huggins, executive general manager home buying, Commonwealth Bank, says: “While the national property market remains balanced, Brisbane, Darwin and Adelaide have experienced the most notable shifts. Brisbane and Darwin have moved in favour of buyers, while Adelaide’s moved in favour of sellers.”

The top five buyers’ markets in Australia are:

1. Northern, SA
2. Wide Bay-Burnett, Qld
3. Central West, Qld
4. Far West, NSW
5. Pilbara, WA.

The top five sellers’ markets in Australia are:

1. Sydney, NSW
2. Melbourne, VIC
3. Adelaide, SA
4. Canberra, ACT
5. Central Highlands, VIC.

“CommBank’s Home Buyers Index shows there are opportunities for buyers and sellers across Australia,” Huggins says. “Prospective buyers should ensure they do their research and consult a home lending specialist, so they can make an informed decision about where to buy.”

Source: Australian Property Investor Magazine