BANGKOK: -- The long-delayed Airport Rail Link project, providing direct rail service to and from Suvarnabhumi Airport, will start providing free service to the public from this December 5 which coincides with the birthday celebrations of His Majesty the King, said State Railway of Thailand (SRT) Governor Yuthana Tupcharoen.
People interested in free rides on December 5 may apply for tickets beginning October 1 at either the Airport Rail Link office or at SRT headquarters, Mr. Yuthana said.
Test runs of the system have been conducted since February by Siemens, the manufacturer and installer of the rail system, and no problems have been found. However, independent engineers will inspect the safety system for the next three months and if no problems are found, the system will be ready for operation.
The SRT board has also hired Deutsche Bahn International of Germany for Bt85 million to train Airport Rail Link staff. The board exports to launch the system on December 5, Mr Yuttana added.
The 28-km rail link connects Suvarnabhumi International Airport in adjacent Samut Prakan province and the City Air Terminal in Bangkok’s Makkasan area.
The Airport Rail Link is owned and will be operated by SRT, through a subsidiary company, which will administer the overall operations.
According to a preliminary study, the fare for an express trip will be Bt150 per person, while fares for the City Line commuter trips, will vary from Bt30-50 per passenger.
Transport for airport express riders and local commuters will run on the same track with the same equipment, but with a staggered schedule.
Premium-fare express services will run on the hour between Suvarnabhumi Airport and City Air Terminal, while the City Line service will stop at six local stations along the route.
Source: MCOT News
Sunday, September 6, 2009
Thursday, August 27, 2009
Villa Cristal - SOLD
Anatta Property confirmed the sale of Villa Cristal at Siam Royal View this week. Property investors and wealthy expats have voted with their wallets on this successful housing development just off the Sukhumvit Road in Pattaya. Set a huge piece of land overlooking Jomtien and Pattaya bays and boasting a huge salt water infinity edge pool in the centre of the resort its easy to see why so many choose to call Siam Royal View home. Re-sale properties are rare and there are limited land plots still available in Phase 2 for those looking to have a new house built. This is also the village of choice for visiting executives looking for a long term rental in a safe sucrue and quiet compound with easy access the many industrial areas which are within an easy commute.
For more latest availabilty contact Anatta Property anattaproperty@gmail.com
For more latest availabilty contact Anatta Property anattaproperty@gmail.com
Hollywood Coming to Thailand....again
American Gangster. Tomorrow Never Dies. Just two of the many blockbusters shot on location in Thailand in recent years.
Now Peter Wright in ‘The Hollywood Reporter’ tells of a brand new $650,000 media venture in Thailand revealed this week.
“HONG KONG -- Los Angeles-based entertainment property developer Creative Kingdom Inc. is to build a film studio and residential complex near Chiang Mai in northern Thailand
Meanwhile Peter Lloyd writing in Pattaya Today last week noted
''there was a very interesting article in a UK Sunday newspaper which listed Thailand as having the world’s third highest price rises in the first 3 months of this year recording a 2.7% increase”
Now Peter Wright in ‘The Hollywood Reporter’ tells of a brand new $650,000 media venture in Thailand revealed this week.
“HONG KONG -- Los Angeles-based entertainment property developer Creative Kingdom Inc. is to build a film studio and residential complex near Chiang Mai in northern Thailand
Meanwhile Peter Lloyd writing in Pattaya Today last week noted
''there was a very interesting article in a UK Sunday newspaper which listed Thailand as having the world’s third highest price rises in the first 3 months of this year recording a 2.7% increase”
Wednesday, August 26, 2009
Property and Land Ownership in Thailand - News
PHUKET CITY: The governor of Phuket, Wichai Phraisa-ngop, on Tuesday responded to explosive claims by a Thai research body that foreigners own 90 percent of the island’s beach land.
The Thailand Research Foundation announced the results of its research into land ownership at a seminar attended by economics and law scholars last week.
The Bangkok Post quoted Siriporn Sajjanont, a member of the research team from the economics faculty at Sukhothai Thammathirat Open University, as saying foreigners controlled 90 percent of land along the coastline of Phuket through Thai nominees.
The claims have caused a furor in the Thai media, following reports that businessmen in the Middle East were snapping up rice farms in other parts of Thailand using local proxy companies.
Questioned by the media at a ceremony to give out scholarships to students at Phuket City Municipality offices, Gov Wichai refused to confirm or deny the 90 percent claim.
The governor nevertheless conceded that foreigners were exploiting legal loopholes in order to gain control of Phuket’s land.
“One way to own property is through a business registered as a juristic person,” Gov Wichai said.
“As long as Thai people own 51 percent or more of the company and foreigners 49 percent or less, that’s legally permissible.
“The Thais are then transferring their shares to the foreigners after the transaction is complete, so the foreigners get 100 percent control of the land.”
Gov Wichai said the government was drafting new laws to prevent this from happening.
Foreigners were also marrying Thais in order to own businesses to purchase property, he said.
“The law doesn’t allow foreigners to own land and property, except for condos, so they’re finding Thai husbands and wives,” he said.
“Sometimes they even use fake marriage documents,” Gov Wichai added.
The governor said that Phuket authorities were carrying out stringent checks to find out whether the money to buy land was coming from Thais or foreigners.
“If marriage licenses are fake or Thai nominees are used but the money used to buy the property isn’t coming from Thai people, we won’t let them buy property. In the past, many people have been refused permission to buy property in Phuket.” he said.
The governor expressed concern that foreigners were renting farmland in other parts of Thailand.
“Outside Phuket, we have to worry about people from the Middle East leasing our farmland. They can rent it for 30 years and can extend the lease two more times – that’s a very long time,” he said.
From the Phuket Gazette
The Thailand Research Foundation announced the results of its research into land ownership at a seminar attended by economics and law scholars last week.
The Bangkok Post quoted Siriporn Sajjanont, a member of the research team from the economics faculty at Sukhothai Thammathirat Open University, as saying foreigners controlled 90 percent of land along the coastline of Phuket through Thai nominees.
The claims have caused a furor in the Thai media, following reports that businessmen in the Middle East were snapping up rice farms in other parts of Thailand using local proxy companies.
Questioned by the media at a ceremony to give out scholarships to students at Phuket City Municipality offices, Gov Wichai refused to confirm or deny the 90 percent claim.
The governor nevertheless conceded that foreigners were exploiting legal loopholes in order to gain control of Phuket’s land.
“One way to own property is through a business registered as a juristic person,” Gov Wichai said.
“As long as Thai people own 51 percent or more of the company and foreigners 49 percent or less, that’s legally permissible.
“The Thais are then transferring their shares to the foreigners after the transaction is complete, so the foreigners get 100 percent control of the land.”
Gov Wichai said the government was drafting new laws to prevent this from happening.
Foreigners were also marrying Thais in order to own businesses to purchase property, he said.
“The law doesn’t allow foreigners to own land and property, except for condos, so they’re finding Thai husbands and wives,” he said.
“Sometimes they even use fake marriage documents,” Gov Wichai added.
The governor said that Phuket authorities were carrying out stringent checks to find out whether the money to buy land was coming from Thais or foreigners.
“If marriage licenses are fake or Thai nominees are used but the money used to buy the property isn’t coming from Thai people, we won’t let them buy property. In the past, many people have been refused permission to buy property in Phuket.” he said.
The governor expressed concern that foreigners were renting farmland in other parts of Thailand.
“Outside Phuket, we have to worry about people from the Middle East leasing our farmland. They can rent it for 30 years and can extend the lease two more times – that’s a very long time,” he said.
From the Phuket Gazette
Thursday, August 20, 2009
Why Invest... Pattaya
Welcome to the second edition of Why Invest... Pattaya, a publication prepared by Raimon Land's research team. The purpose of this document is to provide the latest facts, figures and trends relating to Thailand's eastern seaboard destination, so investors are equipped with quantifiable tools to use in their decision making.
It is about the destination and its future, containing opinions from property industry experts and investors who provide first-hand intelligence and insight that reveals existing, as well as the longer -term potential of the destination.
With more than six million tourists a year and growing by another million visitors every two years, Pattaya is Thailand's premier tourism destination and one of the top resorts in Southeast Asia.
The profile of tourists has changed over the past few years. The number of keys in five-star hotels has increased significantly, pulling in higher spenders to the city. Better infrastructure, schools, hospitals, golf courses and exciting nightlife are attracting regular visitors from Bangkok over the weekends and public holidays.
The opening of Suvarnabhumi International Airport, located closer to Pattaya, has further played a key role to attract more businesses to the eastern seaboard. The Board of Investment is regularly approving new projects within and around the boundaries of Pattaya, consequently attracting more employees to the city. Pattaya is no longer just a tourist area; it is now an authentic city with permanent residents and communities of foreign retirees, local business owners and workers from nearby industrial estates.
With rising standards in accommodation and resort developments, Pattaya is redefining itself to attract higher-spending tourists and this benefits all in the community. Our Northshore project was the first development to raise luxury standards in Pattaya and now we've moved standards even higher with Northpoint.
Our experience at Northshore and Northpoint combined with extensive research of the Pattaya residential market indicates strong demand for centrally located quality units with views - but limited supply. This is good news for investors.
It is about the destination and its future, containing opinions from property industry experts and investors who provide first-hand intelligence and insight that reveals existing, as well as the longer -term potential of the destination.
With more than six million tourists a year and growing by another million visitors every two years, Pattaya is Thailand's premier tourism destination and one of the top resorts in Southeast Asia.
The profile of tourists has changed over the past few years. The number of keys in five-star hotels has increased significantly, pulling in higher spenders to the city. Better infrastructure, schools, hospitals, golf courses and exciting nightlife are attracting regular visitors from Bangkok over the weekends and public holidays.
The opening of Suvarnabhumi International Airport, located closer to Pattaya, has further played a key role to attract more businesses to the eastern seaboard. The Board of Investment is regularly approving new projects within and around the boundaries of Pattaya, consequently attracting more employees to the city. Pattaya is no longer just a tourist area; it is now an authentic city with permanent residents and communities of foreign retirees, local business owners and workers from nearby industrial estates.
With rising standards in accommodation and resort developments, Pattaya is redefining itself to attract higher-spending tourists and this benefits all in the community. Our Northshore project was the first development to raise luxury standards in Pattaya and now we've moved standards even higher with Northpoint.
Our experience at Northshore and Northpoint combined with extensive research of the Pattaya residential market indicates strong demand for centrally located quality units with views - but limited supply. This is good news for investors.
Northpoint Condo Pattaya
Luxury property developer, Raimon Land, has recorded impressive sales growth for its Northpoint project on prime beachfront land in Pattaya, bucking the trend of Thailand''s overall property sales performance.
As of July, the company has sold 72% of the 376 residential units in the award-winning development on North Pattaya's prestigious Wong-Amat Beach. Due to open in early 2010, Northpoint's two towers of 54 and 46 storeys have achieved sales of THB3.3 billion, with 269 units sold.
Raimon Land Chief Executive Officer, Hubert Viriot, said the positive sales clearly show that property buyers remain confident in Pattaya's luxury real estate market and in a resort destination just 90 minutes' drive from Suvarnabhumi International Airport.
"These results demonstrate a belief amongst investors and ourselves in the destination, which is driven by its location, the increasing number of five-star hotels, new retail developments, and the great outdoors lifestyle available" Mr. Viriot said.
"Buyer movement has been particularly strong among Thai nationals, who see the long-term value of a high-quality investment vehicle that can be rented to executives living and working in the Eastern Seaboard region."
Northpoint is the tallest residential development completed in Pattaya to date and is now a landmark on the Pattaya skyline. Construction continues to make good progress with mechanical, electrical and plumbing installations having reached the penthouse levels of both towers. External decorative paint application works are ongoing while imported floor and wall tiling installations have significantly advanced at both towers, and landscaping and swimming pool works continue to progress at the beachfront.
Recognised as the "Best Condo Development Eastern Seaboard" at the Thailand Property Awards 2008, Northpoint redefines beachfront living in Pattaya with a mix of one, two and three bedroom luxury units, as well as three to four-bedroom duplexes and penthouses, ranging in size from 53-492 sq.m., with tropical modern designs, and every unit enjoying uninterrupted views of the Gulf of Thailand.
Located on 80-metres of beachfront amid tiered horizon pools and specially zoned sun decks, Northpoint also features spectacular Sky Gardens, state-of-the-art fitness facilities, a kids' playground and lush greenery.
For more information, please visit www.northpointpattaya.com
Latest Thailand condominium research by Raimon Land
Publicly-listed Thai condominium developer, Raimon Land PLC recently released their latest condominium research – Condominium Focus Thailand. Focusing primarily on Bangkok and Pattaya, there is no research on resorts markets such as Phuket as there has been in the past, presumably due to Raimon Land´s The Heights Phuket condominium development having been finished.
According to the report:
Thailand´s property sector is showing signs of an early recover, as selective investors return to purchasing real estate stocks and actual property.
The condominium market appears to be recovering, as all major developers reported stronger Q1/09 presales after a dismal Q4/08.
Developers are also enjoying lower construction and material costs alongside a selection of reasonable priced, quality land plots in 2009, but banks remain cautious in releasing new loans for condominium projects.
Condominium development indicators for Q1/09 reveal:
- Presales more than doubled those in Q4/08, signaling the market has already bottomed out.
- Construction costs by gross floor area (GFA) have fallen more than 10% since Q3/08.
- However, the drawdown on new loans tumbled 36.5% to THB1.8 billion from last year´s THB2.9 billion.
A drastic reduction in the condominium launches is taking much of the blame for slumping presales, and cancellations and returns led to negative presales in Q4/08. However, more projects launched in early 2009 are reporting good presales.
Despite the poor market sector performance in 2009, the report notes signs in 2009 remain positive where “Off-plan take is still high at 73%.”
With regards to new supply in the Bangkok market, the report goes on to say:
The latest inner-city Bangkok transfer figures shows:
- The gap between completed and transferred condominiums has widened after a shakeout of unqualified buyers.
- Recent high-end completions drove the average price/sqm. of transferred units to a new high.
- Sukhumvit led the want in transfers, followed by Silom/Sathron, and high-priced Central Lumpini.
Earlier this week Raimon Land reported an increase in IFA´s shareholding in the company, followed by the release of Q2 figures showing a loss of over THB200 million in 2009. This on the back of positive profit postings by many of Thailand´s publicly-listed real estate companies over the same period.
With regards to Pattaya, the report notes mixed results, with completed and resales of completed units showing some positives:
Much like tourist arrivals, condominium launches cooled in 2009 after a record H2/08, while the take-up rate sank to 35.2%, a low not seen in four years. With the gap between supply and demand widening, the average unit price began slipping from its H1/08 peak to below the THB100,000/sqm mark in 2009.
It is fair to say we see more glossy sales brochures and property billboards than actual cranes in Pattaya, and the lack of finished supply continues to guarantee strong annual returns in the range of 5-7%. While resale prices in finished properties are escalating to be more in line with current off-plan prices.
This trend is set to continue, with only a third of the total launches expected to be completed in the next two years, while the remaining units are scheduled to come be transferred to buyers in 2012 and 2013 onward, though it is unlikely that all developers will meet their targeted completion dates.
This is the 8th edition of the Condominium Focus Thailand, published by Raimon Land.
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