BKKCONDOS News Summary: The week starting 9th February 2015
Welcome to BKKCONDOS 2015! We had a break from the blog over Christmas and New Year but are back to wish you a happy Chinese New Year and year of the Goat.
Over Christmas we sadly lost a very successful and popular member of our team, but we wish K. Mod the best of luck on her new life in Australia and hope she will come back to visit soon. More recently we hired a new member of the BKKCONDOS team, K. Gift. Gift has had experience with working in the Juristic Office of a large condominium project on Sukhumvit Road, so we hope that with this experience she can provide useful insights to help both buyers and sellers in Bangkok. We will be growing the Bangkok team even further from the beginning of March so we will have more time to spend working with clients to find the right property in central Bangkok, whether it be a studio for sale, 2 bedroom for rent or an exclusive Penthouse or mansion!
With regards Bangkok's current Real Estate market the strong baht is having a particular effect on our European and Singaporean clients. It could be a while until we are getting 41 THB to the Euro again as it was last December or above 44 THB as with last May. Last May it was 26 THB to the Singapore Dollar, now it is down at 24 THB. For us Brits we were getting 55 THB to the pound, not it is down at 50 THB. What this does mean is that some owners are looking to sell their properties at the moment to take advantage of the strong exchange rate when transferring the funds back to their home countries. So there could be some bargains out there for those who are not willing to wait!
Noble Ploen Chit is making a massive impact on the lower Sukhumvit skyline and Circle 11 on Sukhumvit Soi 11 has almost reached its ultimate height. It's amazing how quick these condominiums go up when they put their minds to it, or when the developers are in need for some cash flow from their buyers. There will be a new Hyde development by Grande Asset on Sukhumvit Soi 11 also, just next door to Prime 11, there are very few lights on in the evenings at Hyde Sukhumvit 13 so let's see how many people are at home when Hyde Soi 11 is finished. Along with these be expecting more high prices per square meter with Ashton Asoke, that was pre-launched in Singapore even before Thailand.
Our partners at Hipflat and Thailand-Property seen to be doing well which is a good sign for the overall Bangkok Real Estate market. Thailand-Property recently rebranded in align with their new DotProperty website. Hipflat have also made some innovative changes that should be helping those looking to rent or buy in particular condos or apartments.