Latest news with #ColliersThailand
The Star
20-07-2025
- Business
- The Star
Thailand's condo market plummets to 16-year low
Condominium buildings are seen in Bangkok, Thailand, September 25, 2018. REUTERS/Athit Perawongmetha BANGKOK: Thailand's condominium market has hit a staggering 16-year low, with new launches in Bangkok plummeting to just 373 units in the second quarter of financila year 2025 (2Q25). This dramatic 94.2% contraction from the previous year marks the lowest level since 2009, when the market was only just beginning to recover from the subprime crisis, and is even worse than the slump experienced during the peak of the Covid-19 pandemic. According to Colliers Thailand's Research and Communication Department, the dire figures have forced property developers and analysts to urgently re-evaluate their strategies. 'This is not merely a seasonal slowdown but a clear signal reflecting buyer hesitation and cautious decision-making from developers,' commented Pattarachai Thaweewong, director of research at Colliers International Thailand. He noted that despite a modest recovery in 2022 to 2023, the market has failed to return to its pre-crisis strength. The extent of the current downturn is particularly striking when compared to the typical 2Q25 average of 8,000 to 12,000 new condo launches over the past decade. The sharp contraction in 2025 is attributed to a confluence of economic pressures: >Elevated interest rates are significantly curbing the purchasing power of genuine buyers. >Rising development costs, driven by increases in construction materials and land prices, are squeezing developer margins. >Persistent economic uncertainty and a lack of clear government policy direction are further eroding confidence. Unsurprisingly, many developers have opted to 'delay' new project launches, instead focusing on managing existing inventory and shoring up cash flow. 'Today's silence may become tomorrow's momentum if the timing and conditions are right,' Pattarachai suggested. — The Nation/ANN
The Star
18-05-2025
- Business
- The Star
Nai Thon Beach: Phuket's emerging property hotspot in recent years
PHUKET: Nai Thon Beach in Phuket province has emerged as a new battleground for property developers, aiming to attract both Thai and international buyers in recent years. According to Colliers Thailand's Research Department, the first quarter of 2025 saw the launch of over 45 new condominium and holiday home projects, representing a total investment value of 49.16 billion baht. Despite a slight slowdown in newly available units—falling to between 8,000 and 10,000 units from the peak of 20,000 units over the past two years—Phuket's property market remains highly dynamic. An intriguing aspect of Nai Thon Beach is its strong growth potential coupled with relatively low competition. Currently, only two condominium projects, totalling 820 units, are on the market, accounting for a mere 2.18% of the total condominium supply. Meanwhile, the villa segment consists of just six projects with 113 units, representing only 2.75% of the holiday home market. Foreign investors, particularly from Russia, have been driving demand in Nai Thon Beach, seeking sanctuary from conflict. Buyers from Europe, Scandinavia, China and India are also expressing interest, looking for both second homes and long-term leasehold investments of up to 30 years. Meanwhile, high-end Thai investors are increasingly purchasing properties in this tranquil, beachfront location, favouring private, peaceful developments with strong management systems and rental potential. - Photo: The Nation/ANN Another key appeal of Nai Thon Beach is its prime location, just 10–15 minutes from Phuket International Airport, and surrounded by premium amenities, including golf courses, five-star hotels, and high-end restaurants. As a result, land prices continue to rise. Mountain plots range from 15–30 million baht per rai, while beachfront land has surged to 25–50 million baht per rai. While some areas in Phuket have become fiercely competitive "red ocean" markets, Nai Thon Beach retains its 'strategic whitespace' for visionary investors willing to take the plunge. Previous luxury villa projects, priced at around 100 million baht per unit, have sold out quickly, illustrating the sustained interest from high-net-worth buyers. With Phuket's tourism sector recovering rapidly, especially among long-stay visitors and foreign retirees, Nai Thon Beach is not only a location worth watching today—it also holds a promising advantage for the future. - The Nation/ANN
