The Bangkok real estate market is one of the best for international investors

Because of low labour costs and relatively inexpensive housing, many multinational corporations have made Bangkok one of their overseas homes. This has, in turn, drawn a lot of international businessmen and expatriates to the city looking for high quality housing at reasonable prices. There continues to be a healthy demand for property, meaning that investments should continue to rise in value for the foreseeable future.

Local seers foresee a challenging year ahead

Everyone is captivated by the future. Will my business be successful? Should I invest in the stock market? Will I earn more if I invest my money elsewhere? Maybe in real estate?

No one is absolutely sure about the answers, yet some people seem to have uncanny ability when it comes to predicting the future.

Dusit International to launch region's largest Thai-inspired 'Devarana Spa'

Devarana Spa, the luxurious Thai-inspired spa chain and part of the internationally reputed Dusit International Group, has announced the launch of a 1800 square metre spa at the Al Osaimi Group's AED 1 billion luxury resort, spa and residence project located on the Crescent of The Palm Jumeirah. The move follows an earlier agreement signed by Dusit International and Al Osaimi Group for the management of the project and the inclusion of the hotel's world-class spa facility featuring traditional Thai service and hospitality.

Millennium Resort Patong opens in Phuket

Millennium Resort Patong hotel is owned by Phuket Square Company Ltd and managed by M&C. Phuket Square Company Ltd is the owner and developer of the Phuket Jungceylon shopping and leisure complex where the M&C hotel is located.

In March 2006, Real Estate Capital Asia Partners L.P (RECAP) through Dolruethai Co.,Ltd acquired a 95% interest in the Phuket Jungceylon project, a mega hotel and retail complex of two million square feet. RECAP is a private real estate fund in which the City Developments Limited Group (CDL) has significant interest with a US-based investment fund and other limited partners.

Building an attractive investment platform

Thailand's property market has come a long way in the last 10 years, but more needs to be done to build investor confidence, shore up the industry's foundations and further develop Thai real estate's international appeal.

A new government brings with it the opportunity for change, in particular the chance to alter existing policies on the foreign ownership of property. Moves should be made in the opening up of access to local finance for non-Thai buyers, and in creating more flexibility in the current juristic arrangements for condominiums, to ensure longer-term upkeep and maintenance of developments.

Phuket land prices skyrocket

The highest land price increase as a percentage for plots along a main road was 535%, for land on the Baan Don-Layan road in Cherng Talay. Prices for plots along that road rose from 2,000 baht per square wah (four square meters) to 12,700 baht, due to the large number of high-end developments in the area.

Land plots along Baan Layan-Baan Sakoo road in Sakoo also saw a dramatic price rise – an increase of 400% – from 2,000 baht to 10,000 baht per square wah, while land plots along Ton Sai Rd in Thepkrasattri rose 324%, from 2,500 baht to 10,600 baht per square wah.