Thailand Real Estate

The Government Housing Bank was swamped yesterday on the launch of the Bt25-billion First Home Loan scheme, with nearly 6,000 eager applicants seeking almost Bt9 billion in zero-interest mortgages.

LPN Development is expected to be a prime beneficiary of a government plan to offer zero interest loans for first-time homebuyers who purchase properties costing below Bt3 million, said DBS Vickers Securities (Thailand).

Thailand saw strong growth in launches of new property projects in the first quarter with a total of 28,683 units, up 28.4% yearon-year, with the value rising 35% to 68.75 billion, according to Agency for Real Estate Affairs.

The Tourism Council of Thailand is has re-forecasted 2011 numbers, with expectations in the range of 16.76 to 17.21 million.

The GHB zero interest campaign would help buyers afford units for under THB3 million at developments like Pruksa's Plum Condos.

Concerns about an overheating condominium market were allayed in the first quarter of 2011, with a fall of around 46% of new launches when compared to the previous quarter.

Singapore headquartered City Development has budgeted US$600 million (THB18 billion) to develop residential projects and take over hotels and resorts in Thailand and other Asian markets, according to The Nation.

K Village and Crystal Park are two retail malls in Bangkok that are very different. Large open areas, low – slung buildings and lots of parking area make malls like this popular very quickly.

Tourist arrivals to Thailand during the first quarter of this year improved 14.96%, the Tourism Council of Thailand reported, Monday, but it says it will review the year's target due to natural disasters both in Thailand and Japan.

Low interest rates on bank deposit savings accounts are driving investment demand in the residential market, where investors are seeking annual yields as well as capital appreciation.