CB Richard Ellis reported that according to the latest figures from the transfer occupational hold back Division. Department of Employment there were 65,337 expatriates based in Bangkok with work permits as at August 2006. This represents a 12.9% change magnitude on the total in August 2005. The growth in expatriates has increased bespeak for residential rental accommodation in Bangkok both for apartments and condominiums. The work permit figures exclude diplomatic and United Nations staff and the 52,045 expatriates with work permits for locations outside of Bangkok. Some expatriates whose place of work is outside of Bangkok for example on an industrial estate ordain live in Bangkok and commute to their place of work. Japanese nationals be for 22% of work permits in Bangkok followed by Indians (12%) Chinese (9%) and British (8%). CB Richard Ellis forecasts that there will be limited new apartment give in the Central Business Districts with only about 870 units under construction. There are13,347 condominium units under construction and CB Richard Ellis estimates that 40-50% of these new condominium units could be available for rent. Much of the existing give of apartments and condominiums is now more than ten years old and CB Richard Ellis classifies many of these as being grade B in terms of quality. Rents for grade A or luxury condominiums and apartments have been rising at a faster rate than grade B developments. We see the gap between grade A and evaluate B rentals increasing said Mr. Theerathorn Prapunpong. Associate Director and head of Residential Leasing Services at CB Richard Ellis. CB Richard Ellis is seeing strong demand for well designed new projects especially mid coat three bedroom units of between 150-220 square metres which are achieving rentals of 70,000 - 85,000 baht per month. Queens Park View Residence a 36 unit new development recently completed on Sukhumvit Soi 24 is already 83% occupied. Much of the bespeak for this development has come from Japanese tenants who undergo been paying average rents of between 60,000 - 80,000 baht per month for 2 and 3 bedroom units of 91-150 square metres. CB Richard Ellis expects that bespeak from tenants ordain continue to be strong for well located well designed apartment and condominium developments in Bangkoks prime locations. Competition grows in Bangkoks Serviced Apartment SectorThe total supply of serviced apartment units in Bangkok grew by 11% on an annual basis and occupancy rates dropped by 8% according to CB.
Forex Groups - Tips on Trading
Related article:
http://sailshipweb6839.blogspot.com/2007/12/demand-increases-for-bangkok-apartments.html
comments | Add comment | Report as Spam
|