Thai Construction Industry

Demand for new homes in Thailand remained robust in the first quarter despite measures passed by the Bank of Thailand limiting loans to 90 per cent of the value of condo units.

Apartment rentals in Bangkok's prime expatriate area decreased slightly in the fourth quarter of 2010 due to a surge in condominium developments, according to CBRE's latest market research.

Leading property firm Pruksa Real Estate will propose measures to treat wastewater from its four residential projects in Rangsit in Pathum Thani province to the Senate subcommittee on the environment at the end of this month.

Rising business confidence evidenced by more jobs, abundant liquidity Asia's real-estate investment market has seen encouraging growth in terms of the total value of sales this year and the second half of 2010 thanks primarily to the abundant liquidity and continued inflow of capital, a study by Collier International showed.

The three main real-estate-industry associations, namely the Thai Real Estate Association, the Housing Business Association and the Thai Condominium Association, have jointly organised the 24th semi-annual "House and Condo Expo" over the past weekend.

Property funds offer attractive returns but liquidity is a concern. All investors want their investments to deliver handsome returns, or at least to beat inflation.Thailand's inflation rate is expected to stand around 3-4% this year, with high oil prices caused by unrest in the Middle East one key factor.The Bank of Thailand last week lifted its policy rate by 0.25 percentage points to 2.5% to curb rising inflation.

Quality Houses Plc says it plans to launch 22 projects worth Bt28.6b this year, mostly detached houses.

Housing prices are forecast to rise by at least 5% this year, reflecting the higher costs of construction, wages and land, says the Housing Business Association.

Luxury property developer Raimon Land has announced the forthcoming opening of Vue, a boutique fusion mall adjacent to The River, its prestigious development along the Chao Phraya. Located by The River's main road entrance on Charoen Nakorn Road, Vue will be completed by the end of the year, before The River's owners and tenants move in to their units during the course of 2012.

Thailand’s Asian Property Development (AP) is eyeing revenue growth of 25 per cent to THB17 billion (US$559 million) this year, with plans to launch 20 new projects focusing on both condominiums and low-rise developments.