property market - Housing Market Marketing by Housing Market Group https://housingmarketmarketing.com/da/ A world leader in international real estate marketing Mon, 22 Jun 2020 04:28:31 +0000 da-DK hourly 1 https://wordpress.org/?v=6.8.3 https://housingmarketmarketing.com/wp-content/uploads/2025/07/cropped-Housing-Market-Group-32x32.png property market - Housing Market Marketing by Housing Market Group https://housingmarketmarketing.com/da/ 32 32 Pattaya property market rebounds to end 2019, but future uncertain https://housingmarketmarketing.com/da/pattaya-property-market-rebounds-to-end-2019-but-future-uncertain/?utm_source=rss&utm_medium=rss&utm_campaign=pattaya-property-market-rebounds-to-end-2019-but-future-uncertain Mon, 22 Jun 2020 04:28:31 +0000 https://housingmarketgroup.com/?p=2304 The Pattaya property market showed signs of life to end last year, but uncertainty from global events could quickly bring the positive momentum to a halt in 2020. Colliers International Thailand found the number of new condo projects launched in the second half of 2019 hit a five year high as developers were preparing for […]

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The Pattaya property market showed signs of life to end last year, but uncertainty from global events could quickly bring the positive momentum to a halt in 2020. Colliers International Thailand found the number of new condo projects launched in the second half of 2019 hit a five year high as developers were preparing for the benefits of the Eastern Economic Corridor (EEC) project to kick in.

The government-backed plan has moved forward with several infrastructure projects now either completed or close to being finished. These were expected to bring an influx of foreign investment to the region with a report from Colliers citing this as reason to believe the Pattaya property market would recover.

The consultancy found that 10,592 new condo units were placed on the market in the second half of last year, an increase of more than 113 percent from the previous six months. This was the first time since the first half of 2012 that more than 10,000 condo units were launched in Pattaya during a six month span. Overseas developers played a huge role in this surge of supply.

“Supply of more than 5,100 newly launched units have been developed by Chinese developers who were interested in developing condominium projects in the Pattaya,” Colliers Thailand research noted.

Foreign demand still key driver of Pattaya property market

However, these developers had been targeting overseas buyers, a group that could be retreating in light of the spreading coronavirus outbreak that is harming tourism and the global economy.

“Chinese buyers have become the main clients of the Pattaya condominium market. Most developers have been trying to attract them through both local agencies and agencies from Bangkok in order to substitute the Thai purchasing power that slowed down from the overall economic downturn and from the impact of the new LTV measure in the past years,” the reported found.

A lot has changed between the end of 2019 and now. Many developers were able to sell out their 49 percent foreign quota at condominium projects in Pattaya during the second half of last year because of strong demand from Chinese buyers, according to Colliers Thailand. That is unlikely to repeat itself in the current half in light of global events.  

COVID-19 derails recovery momentum

Early estimates from the Real Estate Information Center (REIC) paint a disappointing picture for the Eastern Seaboard property market in 2020. With tourism having ground to a halt and the economy expected to contract, demand and supply will be affected.

According to REIC estimates, residential transfers will drop by almost 12 percent in 2020 with transfer value predicted to decline by 21.5 percent year-on-year. The condo market will be hit the hardest since it is reliant on foreign investment.

There will be a drop in the number of new condo units launched in the EEC. Developers are only expected to bring 6,557 units to the market in 2020, the REIC reported. Assuming a return to normalcy by the end of the year, things could bounce back in 2021. In the meantime, some investors will look to take advantage of developers offering aggressive discounts.

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Here are 7 Philippine real estate trends to watch for in 2020 https://housingmarketmarketing.com/da/here-are-7-philippine-real-estate-trends-to-watch-for-in-2020/?utm_source=rss&utm_medium=rss&utm_campaign=here-are-7-philippine-real-estate-trends-to-watch-for-in-2020 Mon, 11 May 2020 05:24:43 +0000 https://housingmarketgroup.com/?p=1805

Several unexpected events have rattled the nerves of some, but there are still reasons to be optimistic about the Philippine property market. While 2020 may be a challenging one, Santos Knight Frank has identified seven Philippine real estate trends to watch for this year.

  1. REITs take centerstage

    Real Estate Investment Trusts (REITs) finally got the green light in the Philippines earlier this year. Since then, Ayala Land filed an application to create a REIT subsidiary while DoubleDragon Properties Corp is looking at raising a substantial amount of capital via REITs. Santos Knight Frank believes that REITs will unlock a number of opportunities for the property market as more developers get involved.

  2. BPO to remain strong

    The BPO sector has been a key driver for the office market, especially in Metro Manila. Joint research from IBPAP and Everest found demand for office space from BPO companies will grow 3-7 percent annually.

    “In 2020, we expect BPO demand to be strong, despite the limited amount of Philippine Economic Zone Authority-accredited office space. BPO demand is strongest in BGC and Pasay, where rents should be going up. Conversely, Ortigas and Quezon City may have more supply than demand, and rents will stay flat in those areas as the vacancy rates increase,” Morgan McGilvray, Senior Director, Occupier Services & Commercial Agency, Santos Knight Frank, said.

  3. Co-working moves into Cebu

    Co-working is hardly new with several major operators active in Metro Manila. The sector is now growing in Metro Cebu. Santos Knight Frank estimates that 3 percent of the office market is occupied by co-working spaces spread across Cebu IT Park, Cebu Business Park and other buildings around the region.

  4. BCG goes green

    More than 300 buildings in the Philippines have begun implementing LEED guidelines with half of this total already certified by LEED. Nowhere is the shift to green more evident than Bonifacio Global City. Santos Knight Frank reported that 100 percent of new office buildings in BGC are LEED-certified.

  5. Metro Manila suburbs to be logistics growth hub

    The next wave of industrial and logistics real estate sector growth will most likely take place in the provincial areas to the north and south of Metro Manila.

    “The areas of Calabarzon and the corridor NLEX-SCTEX-TPLEX in North Luzon are prime spots for logistics and industrial real estate to grow. These would be the next hubs for distribution centers and warehouses,” Kash Salvador, Associate Director for Investment & Capital Markets, Santos Knight Frank, explained.

  6. Demand for luxury homes still hot

    Metro Manila’s prime residential market remains hot as a limited supply of luxury residences can’t keep up with demand from the increasing number of Filipino ultra-high net worth individuals and foreign buyers.

    Knight Frank’s Prime International Residential Index ranked the Manila prime residential market as one of the fastest risers in the world, ranking eighth globally and third in Asia.

  7. Developers embrace co-living

    Co-living has become a popular solution among young professionals who want to live near their workplace but can’t afford to buy or rent larger condo units. Several developers are tapping into the co-living segment with SMDC having launched MyTown and Ayala Land bringing The Flats to the market. More developers are expected to follow suit.

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The post-Covid-19 era: Radical changes in Bangkok’s property market https://housingmarketmarketing.com/da/the-post-covid-19-era-radical-changes-in-bangkoks-property-market/?utm_source=rss&utm_medium=rss&utm_campaign=the-post-covid-19-era-radical-changes-in-bangkoks-property-market Mon, 20 Apr 2020 04:25:10 +0000 https://housingmarketgroup.com/?p=1490 Property consultants CBRE have come up with their own evaluation of the current Bangkok office market, already getting pounded by regional trends and a high baht, now suffering another challenge – the Covid-19 coronavirus outbreak. They report that this situation will “create another split in our historical timeline – pre and post Covid-19” in Thailand. […]

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Property consultants CBRE have come up with their own evaluation of the current Bangkok office market, already getting pounded by regional trends and a high baht, now suffering another challenge – the Covid-19 coronavirus outbreak. They report that this situation will “create another split in our historical timeline – pre and post Covid-19” in Thailand.

“At present, people are talking about how a 100 year event like the Covid-19 global outbreak will affect Bangkok property,” says CBRE property consultants.

“For many years now, companies have been exploring remote work or work-from-home strategies to either minimise costs or cope with the changes of Millennial behaviour during the pre-Covid-19 period. At this time, almost every company, even those who are underprepared, is being forced to undertake this new way of working without a choice,” according to Ms. Roongrat Veeraparkkaroon, Head of Advisory & Transaction Services, CBRE Thailand.

Companies are experimenting a work-from-home policy and perceive an opportunity that it could work when applied to certain business functions and set the right balance between empowering and monitoring teams. This could mean that the future workplace will have a combination of agile workplaces which could be a permanent office as well as work-from-home, and co-working space.

The outbreak is acting as a catalyst that will give a company a clear view whether its remote working policy, which it has been considering, works. Once businesses realise what platform or infrastructure they are missing to support remote work, tech services companies will be one of the first beneficiaries after the storm has passed.

“Many organisations will be looking for satellite offices and cloud-based platforms as a Business Continuity Plan to ensure their businesses will not go dark if their headquarters could not be accessed. Co-working space will be one of the best choices in this case as the company can rent space on demand only when needed. However, in the post-Covid-19 world, co-working space operators will need solid measures to satisfy users that their space are safe and well-prepared.”

CBRE found that while some hotels in Bangkok have decided to shut down during the lockdown period as occupancy rates were in a single-digit level, some organisations have been renting meeting or conference rooms within hotels for weeks to be their backup meeting space when needed.

“Agile workplace has been a hot topic in the pre-Covid-19 world, where collaboration and engagement are encouraged. Initially, agile workplace might sound like a high-risk option for companies at this time; however, as the name suggests, agile workplace or Activity Based Work areas can be easily reconfigured to support social distancing strategies and split teams within offices. Paperless office makes this transition even more seamless.”

In a bigger picture, CBRE Research witnesses many office developments in Bangkok will be delayed as construction activities are halted or postponed as developers take a more defensive stance to assess the situation on a daily basis.

It is also possible that development plans will be revised to make projects more appealing in the Post-Covid-19 era with better property management system, air filtration (as PM2.5 still lingers in the Bangkok skyline) or a well-thought-out BCP to support the tenants.

“Agile and adaptive will be key words in the post-Covid-19 office market, not only to increase efficiency of a workplace but to prepare a business for any unforeseen changes that could occur in the future.”

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