Thai Construction Industry

The real estate market in Thailand is looking up, with markets in Bangkok and resort areas expected to see the biggest boom, according to recent research from real estate developer Knight Frank.

Land appraisal prices in Bangkok will rise 15-30% on average in the next revision to take effect next year while condominium valuations will rise 15%, according to the Treasury department.

Land appraisal prices and condominium valuations in Bangkok are expected to increase in 2012, with growth driven by infrastructure improvements and the expansion of mass transit systems, particularly in prime areas such as Sathorn, Sukhumvit, and Ratchadamri.

The French Embassy in Bangkok has sold its property holdings on South Sathorn Road to City Virtue Limited, as the French government is moving all Embassy operations to a new facility .

Property developers believe the new government's policies offering special financial packages for first-home buyers will create growth in the property market, but they are waiting to see what conditions might be imposed with the new deal.

As the dust settles on Pheu Thai’s landslide victory, the political situation in Thailand has become clearer but the economic situation for the property sector is still ambiguous.

Stock investors reacted positively to the election result, with the Stock Exchange of Thailand Composite Index opening 33.48 points or 3.21 per cent higher.

S.P.S. Group, a major local furniture exporter, is targeting 5 billion baht worth of exports in three years after being named a major supplier to Ikea, the popular Swedish do-it-yourself furniture chain.

Colliers Thailand has announced the sale of the former Embassy of Japan to Singha Property Development and Max Future Co, both wholly-owned subsidiaries of Boon Rawd Brewery which produces Thailand’s famous Singha Beer.

Asian are expanding their investment in Thailand's property market, both in Bangkok and upcountry, as prices here are still lower than elsewhere in the region and because the Asean Economic Community (ABC) will come into full effect in 2015.