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20
THAILAND LIVE Thailand Live Monday 30 September 2024
EEC housing market crashes: It’s a real estate shake-up by Bob Scott Bob Picture courtesy of WHA Industrial Development Sales of residential units in the Eastern Economic Corridor (EEC) have taken a nosedive, particularly near industrial estates, following a wave of factory closures. Full story: https://aseannow.com/topic/1339416-eec-housing-market-crashes-it’s-a-real-estate-shake-up/ -
0
EEC housing market crashes: It’s a real estate shake-up
Sales of residential units in the Eastern Economic Corridor (EEC) have taken a nosedive, particularly near industrial estates, following a wave of factory closures. Vichai Viratkapan, acting director-general of the Real Estate Information Center (REIC), pointed the finger at the shuttering of large factories since last year, which has severely impacted housing demand in Chon Buri and Rayong. “New sales of condos and townhouses in industrial zones have fallen for two consecutive quarters, from the first to the second quarter of this year.” In the second quarter of 2024, new residential unit sales across Chon Buri, Rayong, and Chachoengsao totalled just 5,132 units, valued at 16.8 billion baht, the lowest figures recorded since REIC began its quarterly surveys in early 2022. This represents a sharp decline from 6,563 units worth 21.7 billion baht in the first quarter, and 7,872 units worth 25.8 billion baht in the fourth quarter of 2023, which was the highest since early 2022. By category, low-rise housing in Rayong faces the longest sell-out timeframe, projected at 29 months, assuming no new supply hits the market, thanks to a surplus of stock. This trend is particularly pronounced in the 2-3 million baht price range, especially in areas like Nikhom Amata City-Eastern, Nikhom Hemaraj, and Nikhom Map Ta Phut. Nikhom Amata City-Eastern holds the largest supply of low-rise homes with 1,426 units available, but only 116 units were sold in the second quarter, resulting in a dismal absorption rate of 2.7% and an estimated 33.9 months to sell out. Similarly, Nikhom Hemaraj and Nikhom Map Ta Phut had supplies of 1,093 and 1,065 units respectively, yet only 93 and 80 units were sold in the same period. Chon Buri also mirrored this trend, with the largest inventory of low-rise homes priced between 2-3 million baht located near industrial estates. Notably, areas like Nikhom Pan Thong-Phanat Nikhom boasted 1,147 units, while Nikhom Amata Nakorn-Bypass had 1,119 units—but sales were just 129 and 84 units respectively in the second quarter. The first half of 2024 has seen housing demand in the EEC dwindle, contrasting sharply with year-on-year price index increases of 3.3% and 8.3% for vacant land, fuelled by a surge of Chinese investors entering the electric vehicle sector, said Premsorn Sriviboonchai, managing director of Rayong-based developer VP Real Estate Property Development. “The arrival of big names like BYD and Changan in Rayong hasn’t sparked a housing demand boost because they rely heavily on automation.” by Bob Scott Bob Picture courtesy of WHA Industrial Development Source: The Thaiger -- 2024-09-30 -
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Campaigners Urge Handout Recipients to Avoid Alcohol Amid Payout Uncertainty
The politicians more than likely know exactly where the majority of this money will be spent and, if they were smart, made preparations to make investments in or setup business to take advantage of this influx of cash into the economy. The gap between rich and poor is huge here and ever widening in most parts of the world. The rich here run the country as is the case in the majority of world societies. -
37
Rising Baht Sparks Fears of Another 'Tom Yam Kung' Crisis
Until and unless Thailand cobbled all the relevant agencies together and focus in resolving the crisis without personal agenda,, the left hand will just undo what the right hand achieved. Implementing too many policies at once while some of them are not even consolidated yet is foolhardy and Thai civil servants are not known to be the sharpest tool in the box.- 1
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24
Kemi Badenoch on Immigration: 'Not All Cultures Are Equal'
Which makes the point you were making below somewhat silly, no? -
55
Getting a credit card
I’ve got more chance of winning the lottery than getting a credit card and that’s with 19 years of banking with the same bank and always having a good amount in my account ! Unless your a Thai don’t waste your time -
12
Elderly Man Kills Wife’s Former Lover in Drunken Rage Over Advances
What about this seems casual? -
37
Rising Baht Sparks Fears of Another 'Tom Yam Kung' Crisis
We can only hope! -
1
Salt cell prices gone through the roof.
8 years is a good innings for a salt cell. Especially that brand. PM me for options. -
5
Is street food good for you? Old rancid oil. Cheap oil. Food dripping with oil.
All good in moderation. There's some damn yummie street food out there 😀 -
96
Moustached Man Refuses to Leave Women's Restroom, Citing Gender Identity
How do you tell one from the other? If he actually identifies as a woman, what's the moustache about? If I got caught skulking around in a lady's restroom, claiming that I'm trans would be my go-to response. Might even buy me enough time to get away before any consequences. An an aside, do you have any data to support that factual claim? The only way you can tell what gender a person identifes with is to ask them. You can make a guess at that by their appearance. Both genders have facial hair. Some women have mustaches, but most of those remove them. I would never be "sulking around" in a lady's restroom. I might go in one to relieve myself if the men's restroom was closed, but I would do what I had to do quickly and leave ASAP. I didn't have any data to support my claim that 99.9% of rapes were done my straight males, but I did not look in up on the WWW, and found that 93.6% of sexual assaults were done by males, and hetrosexual men are responsible for the "majority" of sexual assults. So, my claim of 99.9% was an overstatement, but the data online, although not conclusive, would support maybe an 80% claim. Quick Facts on Sexual Abuse Offenses (ussc.gov) Statistics In-Depth | National Sexual Violence Resource Center (NSVRC) -
27
Baht strength - How long?
Well, you do seem to realize it is a trend - look at a graph, it goes up and down... did you take note and exchange money, bring more money here when the rate was favorable? Did you comment here? The wheels on the bus go round and round - -
10
First UK Lawmaker Resigns from Labour Party, Accuses PM of Hypocrisy
one member at least is highly conspicuous by his absence from this thread, Will he be paying us a visit today? -
20
THAILAND LIVE Thailand Live Monday 30 September 2024
Thailand braces for severe weather with heavy rain, strong winds by Ryan Turner Image courtesy of KhaoSod Thailand faces severe weather conditions today, as the Meteorological Department (TMD) issues warnings of heavy rain, strong winds, and potential flash floods across 51 provinces. The northern and northeastern regions are expected to be particularly affected, with rain predicted to cover 70% of these areas. Full story: https://aseannow.com/topic/1339415-thailand-braces-for-severe-weather-with-heavy-rain-strong-winds/ -
146
White Culture
Bad news. My Black, Asian, Hispanic and Middle Eastern neighbors would fight tooth and nail to keep artificially low priced housing from being built in our neighborhood. It has nothing to do with skin color, and everything to do with the culture of accomplishment (vs entitlements), property values, and crime rates.- 2
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