Alternative State Quarantine – Golfing Quarantine!!

A newly authorised, government approved scheme has been added to the list of places to quarantine in Thailand. While the quarantine forced on many has been seen to have a huge impact on the number of arrivals to Thailand, making quarantine as palatable as possible of course makes sense.

Whilst everyone including the Government is hoping to open the borders sooner rather than later. The measures put in place by the Government have to be commended based on the number of known cases of Covid that have occurred. With the measures in place, what better way to spend your compulsory 2 weeks confined to a hotel room, or the golf course!!

There are now six government-certified golf resorts that are available to complete the quarantine. You can complete quarantine whilst playing golf daily. Located in Kanchanaburi, Nakhon Nayok, Petchaburi and Chiang Mai, the six different courses offer varying challenges and locations that should be able to suit anyones needs. With all courses offering restaurants, driving ranges, swimming pools and club houses, the quarantine period has never looked better.

Courses and locations:

Evergreen Hills Golf Club, Kanchanaburi
Blue Star Golf Course, Kanchanaburi
Mida Gold Club, Kanchanaburi
Sawang Resort and Golf Club, Petchaburi
Artitaya Golf and Resort, Nakhon Nayok
Artitaya Golf and Resort, Chiang Mai

For golfers wishing to take part need to make arrangements in advance including; visa (Single-Entry Tourist Visa or Special Tourist Visa), medical and travel insurance that covers Covid 19 fully and a Certificate of Entry. With this paper work in place you can participate in rounds daily during your quarantine entry to Thailand.

Bangkok Waterfront Living – a timeless investment.

The riverside area in Bangkok is a blend of the historic original city and the central modern city. Creating a vibrant atmosphere with a multitude of facilities and a range of accommodation including branded residences, serviced apartments, condominiums and 5 star hotels. The riverside Bangkok offers a sanctuary for your soul coupled with exceptional quality of living.

Bangkok was named the world’s most-visited city in 2018 for a fourth consecutive year. Ahead of Paris, London, Dubai and Singapore, according to a 2019 Mastercard’s ranking. With the current situation after covid, NPP Consultants and experts are still expecting growth in the property market this year. With tourist and investors expected back towards the years end, investment opportunities will be plentiful for all.

Bangkok has an array of options for purchasing property for personal or investment purposes and the riverside has always been a popular location for both. As with all major cities, the riverside areas play a significant role within the city. The surrounding area of Taksin Bridge offers sound investment opportunities due to limited availability in an area of such historical importance and the remarkable natural landmark.

The Chao Phraya River has shaped the way of life in Bangkok for generations. With a peaceful atmosphere and mix of historical landmarks and cultural treasures. With limited growth available. Between 2016 and 2018 the number of completed units remained at 15,506. This accounted for only 10 percent of the completed units in the downtown area.

There is a skyscraper coming to Bangkok, still yet to be named, during the time that the riverfront is experiencing its very own renaissance. The building will become the nation’s tallest building with a completion date of 2025. It will surpass the current tallest building, Magnolias Waterfront Residences that stands at 318 meters. The resurgence of the area has included Four Seasons opening its first riverfront development in Bangkok and the Mandarin Oriental is nearing the completion of its complete renovation. Other projects being developed include a pricing structure competitive against areas such as Sukumvit, Central Lumpini park and Ratchada making them very attractive opportunities for investors.

This is coupled with the business district continuing to expand and develop including the new complex of the Ministry of Interior. The ministry will move from the Grand Palace to the Charern Nakhon area on the banks of the Chao Phraya River. It will accommodate its five departments and the permanent secretaries office. With over 7,600 ministerial officers working in the zone is sure to raise the demand for condominiums as well as investment opportunities for both the short and long term. This project is exceptionally situated on the main Charern Nakhon thoroughfare which offers local eateries and upscale restaurants. With the Riverside Plaza community mall and in the same zone as the Anantara and Avani Hotels, this addition to the area is sure to increase demand for property and services.

With the extension of the BTS making mass transit convenient within this area, the popularity is continuing to soar. While conveniences such as ICON Siam and Asiatique offer excellent facilities to cater for the residents and tourists alike.

With all this in mind, it makes it the best time to invest in water front living ensuring that you have your part in the soul of Bangkok.

 

 

The Impact of Covid-19 to Thailand Real Estate by NPP Consultants

NPP Realty and Consultants have been watching the market closely especially during the impact of Covid-19. Even before the pandemic, property demand was weakening in Thailand for the middle or lower segments, despite rental income on luxury condominiums offering attractive yields. With Thailand having currently contained the Covid situation, business has resumed to near normal levels although of course the impacts on certain industries have been phenomenal.

During the biggest lockdown in recent history the industry still saw a rise of 5.1% for single detached houses. That coupled with the bank of Thailand’s interest rate cut to a record low of 0.5% which followed on from 4 other rate cuts in the previous 10 months.

This led to the mortgage market growing to 18.3% of GDP rising from 13.8% a decade ago. Personal housing credits and total property credits rose by 3.9% and 5% respectively in quarter 1 of 2020.

Rental yields in Bangkok are pleasing, ranging from 5.0% to 8.0%, based on a Global Property Guide research. During the past three years, yields on medium-sized apartments (120 sq. m.) have risen significantly. Apartments in Bangkok’s upscale residential areas which include Sukhumvit Road, Silom, Sathorn, Riverside, and Central Lumpini have all shown steady growth leading industry advisers to believe that there is no property bubble. With the real demand not speculative, purchases have continued throughout the pandemic measures despite restrictions on travel for many. 

In most major cities, smaller apartments are deemed a stronger investment opportunity, offering higher rental yields. Bangkok differs in this sense. A 60 sqm apartment earns a gross rental yield of 5.6% while 120 sqm and larger apartments earns gross yield of around 8%.

The pandemic situation has weakened the residential construction work. While current projects are still being completed, fewer registrations of new buildings has been recognized by the real estate market. This will increase demand in the long term for the available units.

On the resale side of the market, sellers are reviewing their sales prices and are being realistic with their own expectations. This has led to a buyer’s market with investors keen to take advantage in the small dip in the depressed property prices. With international investors finding it difficult to visit the country with a travel ban being in effect from April 18th, fewer international transactions are taking place while a greater number of local buyers are investing in the properties. When the travel restrictions are lifted, the investors will return and engage with the property market once again.

At NPP we have been supporting our clients with purchases from distance and locally with many finding opportunities that suit their portfolios. We will continue to follow the market trends to ensure that the most up to date information is provided.

 

Space is the New Luxury

New trends have been emerging in recent months as noticed by realty experts at NPP Consultants. The new trends have affected the commercial and residential property acquisition markets, directing new markets and more open negotiations and opportunities for developers, landlords and tenants. A new direction in the commercial side has included a shift towards revenue sharing rather than fixed rents protecting both sides while the full return to normal occurs.

Another shift in the market is that hygiene and cleanliness of places has become of upmost importance to all parties. Ensuring that the facilities match the social distancing measures space has become the new luxury.

Commercial businesses have shifted focus to online retail that can continue if a lockdown situation should occur again. The property market has shifted in a different direction.

While the workers of Bangkok have returned, and business levels return to near normal, residential estate is always competitive in Bangkok. The shift has been where people are buying and renting properties in places outside of Bangkok within easy escape of the city. Pattaya and Hua Hin in particular have seen a vast upturn in purchases and rentals throughout this entire situation.

With travel restrictions still ongoing, people are choosing to travel locally rather than internationally, people are opting for large pool villas in seaside resorts as their escape from the city where they can enjoy fresh air, the seaside breeze and most importantly the open spaces.

The global impact of Covid is clear for all to see with over 2.6 billion people still living under some form of lockdown restrictions. As with all crisis and challenging times, businesses are beginning the journey to re-entry as industries adjust to the new normal.

With careers now being adjusted and people working from home as effectively as in the office. Buying items online effectively as going to the shops. Wellness items being offered at home rather than a centers. The new trends will certainly shake up many industries. It is time to adjust or be left behind. With Asia being the earliest effected it has also meant it was the quickest to take action and is leading the way out of the pandemic.

In recent years, Thailand has closed the gap on Malaysia that currently sits in second place in the Asia’s real estate market behind Singapore. With a strong baht and the market opening up to international buyers any moment, Thailand sits in a strong position in order to bounce back. This time has also allowed developers to enhance their properties including with better air filtrations systems and property management. Investors have also utilized the local travel by holding inventory for short term rentals to maximize the potential of their portfolios.

With space being at a premium, the resort towns of Pattaya and Hua Hin have seen an increase in properties coming to the market with many expats returning to their own countries until the full pandemic situation is over.

That being said, the Chinese, Singaporean and Japanese are the first investors expected to return. There are of course still many purchases ongoing with clients completing transactions at a distance and with the large remaining expat community and local purchases.

At NPP Consultants we continue work directly with clients in order to ensure that their requirements are fulfilled. Whatever the situation, there are always opportunities.

 

Current Trends in the Square Footage of Houses

Space has always been a luxury in any major city in the world. Bangkok is not exception with space a premium, particularly within the riverside and business district areas. Whilst people are always looking for spacious areas, modern, minimalist stylistic condos have been trending with ever greater popularity with both Thai’s and Expats alike.

Bangkok is a multicultural city that offers blends of contrasts of modern and historical sites next door to each other. With a huge variety of spaces available, finding the right advice is always a challenge. Two condos next door to each other can be at the complete opposite ends of the price spectrum so where to begin?

Choosing a location can be challenging enough as the BTS and MRT networks allow for ease of access to most areas within the city, even through rush hours and other busy times. Then, facilities, entertainment venues, green spaces, schools, shopping centers and much more must be considered in the locality.

NPP can offer expert advice on different locations for different individuals moving to or within Bangkok. With a detailed knowledge of Bangkok and its surrounding area, we can offer first hand advice and find the right place with the right budget for you. We are here to serve your needs.

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