CBRE’s weekly property news snapshot features the latest residential and commercial real estate stories in Thailand and elsewhere that you cannot afford to miss.
The top residential and commercial real estate news of the week – 29 January 2024
Land Bridge roadshow to woo Chinese
Transport Minister Suriya Jungrungreangkit said on Thursday that his ministry will send a Land Bridge megaproject roadshow to China next month.
Bangkok land prices set for record
The land price per square wah in Bangkok is expected to reach a new record high of more than 4 million baht for a plot on Ploenchit Road owned by the Sukosol family being purchased by Central Group, according to a source in the property industry who requested anonymity.
Air force loath to surrender golf courses
The air force has opposed a movement pressuring it to hand back two land plots, currently used as golf courses, to the government for conversion into public parks.
150 transport projects worth B652bn planned
The Transport Ministry has unveiled its plans to invest 652 billion baht in about 150 transport projects this and next year to improve the country’s infrastructure.
Hotel eyeing 80% occupancy
Courtyard by Marriott Bangkok Suvarnabhumi Airport, a new hotel owned by members of the Jiaravanont and Lamsam families, aims to achieve an 80% occupancy rate in its first year, given its strategic location that attracts a varied segment.
TikTok hints at challenge to YouTube
TikTok wants to leverage its 3 million content creators and 2.4 million sellers to help foster Thailand’s creative industry while it prepares to compete with YouTube.
China’s real estate crisis ‘has not touched bottom’
The Business Times
The unwavering belief of Chinese homebuyers that real estate was a can’t-lose investment propelled the country’s property sector to become the backbone of its economy.
Impact of visa exemption expected to be delayed
Even with a permanent visa-free policy between Thailand and China, air ticket prices are not expected to immediately surge as demand will pick up gradually, while seat capacity has yet to fully recover.
Lalin targets flat sales growth in year ahead
SET-listed housing developer Lalin Property is continuing with a cautious approach, with plans to launch 8-12 new projects worth a combined 7-8 billion baht while aiming for flat growth in terms of sales, considering the ongoing negative factors.
AoT pushes Andaman airport build
The Phuket Express
Airports of Thailand Public Company Limited (AOT) is expediting the construction of the new Andaman International Airport, envisioned as a direct long-haul flight hub in Thailand’s southern region.
Lessons for Land Bridge advocates
During the mobile cabinet meeting in Ranong last week, the Land Bridge project once again became a disputed topic as locals in the proposed area met Prime Minister Srettha Thavisin and voiced concerns over the possible impact on their way of life and environmental damage.
Tourism to recover to pre-pandemic levels in 2024
Global tourism will likely achieve a full recovery from the COVID-19 shock in 2024, with the Asia-Pacific region having lagged behind other destinations in the number of tourist arrivals, according to an estimate by a U.N. agency.
High hopes for Thai tourism in 2024
Thai PBS World
Industry leaders are expressing optimism for 2024 even though Thailand’s tourism industry has not fully recovered to pre-pandemic levels either in terms of foreign tourist arrivals or revenues.