News for Investors

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New takeoffs

New project from Pruksa

Pruksa Real Estate Plc is introducing a 392-unit condominium project, Tree Privata, at Kiatkai with prices starting at Bt1.69 million.

The eight-storey building occupies six rai of land.

The units come with usable space of 26.5 square meters and also functions to serve the modern lifestyle.

The project will open for booking from May 9-12 during the Home & Condo Show at the Queen Sirikit National Convention Center, with a special price of Bt1.39 million.

Venice comes to Thailand

Iris Group is unveiling a shophouse and community mall project called Vanice D Iris Watcharapong.

The project's 263 units worth Bt1.47 billion are already 80 per cent sold out.

The project is designed in an Italian style under the concept "Romance in Venice". It sits on 40 rai of land. There are four designs that combine usable space of 158sqm per unit.

The Bt340 million community mall provides 9,000sqm of retail space.

New residences up for sale

Asian Property Development Plc is launching three residential projects - Aspire Ratanathibeth 2, Pleno Ring Road-Ramindra and Pleno Rattanathibeth - at the Home & Condo show.

The firm will also showcase its 26 existing residential projects at this event, which it expects to drive its pre-sales to the target of Bt9 billion in the first half of this year.

Buyers of the company's residences at this event will enjoy a zero interest rate for the first six monthly instalments.

Lucky draw for Plex Bangna

Real Estate Development Co is holding a lucky draw for a Honda Civic to promote its Plex Bangna project at the Home & Condo show.

The project has already sold Bt350 million or 65 per cent of its total value of Bt540 million.

The project features a modern townhouse design.

The Nation May 10, 2013 

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REAL ESTATE
More condos expected past Sukhumvit 55


Land scarcity in 'early zone' affects development trend

More condominium projects are expected along the "late zone" of Bangkok's Sukhumvit Road beyond Soi 55, according to consultant firm Knight Frank Chartered (Thailand).

"Because of the scarcity of new development sites in the CBD [central business district] and early Sukhumvit area, it is likely that new developments will expand towards the late Sukhumvit zone, as potential land plots for condominium development are still available.

As a consequence, a vast number of new condominium supply is expected in this zone, especially around On Nut BTS station," said Risinee Sarikaputra, director of research and consultancy.

She said that the overall condominium market along the Sukhumvit strip, from Soi 1 to Soi 107, still showed signs of prosperity, representing a good balance between supply and demand. This is due to various factors, resulting in an overall take-up rate of more than 70 per cent.

Condominium markets in different areas along Sukhumvit each have unique characteristics.

The company puts Sukhumvit into three sub-markets: Early Sukhumvit (Soi 1-Soi 55), and Late Sukhumvit (Soi 55 onwards).

Based on information collected from 2009 to the first quarter of this year, the take-up rate along the early Sukhumvit strip was a strong 77 per cent.

In particular, when taking a look at grade A to premium products, the early Sukhumvit zone is considered the hottest location for the luxury supply.

Of the 3,820 units that address the rising demand for luxury vertical living, more than 3,000 units have already been sold - a take-up rate of nearly 80 per cent.
Thus early Sukhumvit undoubtedly will remain one of the most prime condo locations among buyers who are looking for top-class urban units.

This market trend is anticipated to continue, because of the land limitation in the CBD and early Sukhumvit zone, pushing the prices of and demand for such condominiums even higher.

The average selling price per square metre varied depending on the unit type, location, accessibility to BTS Skytrain and the main road, and material specifications.

The price for high-rises was also higher than that of low-rise buildings.

In early Sukhumvit, most projects (either off-plan or ready to move in) located right on Sukhumvit Road in close proximity to the Skytrain line are priced from BT86,000-Bt327,000 per square metre, with an average price of more than Bt100,000 per square metre.

Luxury products

Prices are also expected to rise, and developers will focus on introducing high-quality luxury products, as the land is far too expensive for development of mid-range or economy-class projects.

Moreover, it should be noted that factors such as the Asean Economic Community integration, scarcity of land in the CBD, and the rise of construction costs are boosting prices in the prime Sukhumvit area.

According to the inspection of condominium projects from Sukhumvit 55 to Sukhumvit 107, the total supply accumulating from 2009 to the first quarter of this year is approximately 15,604 units. Of this figure, more than 11,000 units have been sold (take-up of 71 per cent), reflecting strong market performance.

There is some caution surrounding demand from speculators who aim to resell units for quick profit. According to condominium developers, about 30-40 per cent of the buyers at presale periods are short-term investors.
However, during the transfer period, the number of transferred units correlated with that on sale records, reflecting real demand.

Of the total supply, the new condominiums released in the market at the beginning of 2013 was around 2,933 units, achieving a take-up rate of 46 per cent within the first quarter.
Nevertheless, it is important to mention that the new condominium supply in late Sukhumvit is targeted for a different buyer group than the early Sukhumvit market, as all the new supply launched this year are economy-class products situated in sub-roads around the BTS extension route. High-end buyers will only focus on pursuing the remaining units near the existing BTS route in Thonglor, Ekamai, Phrakhanong and Onnut.

When taking a look at prices in the late Sukhumvit market, condominiums in close proximity to an existing BTS station (from Thong Lo to On Nut) and the main Sukhumvit Road have an average price of more than Bt100,000 per square metre.

For grade A supply along the existing BTS line, the average price per square metre is Bt138,000, with a range from Bt118,000-Bt150,000.

For lower-grade condominiums around the existing BTS route, the average price per square metre is still over Bt100,000, ranging from Bt87,000-Bt120,000.

On the other hand, supply with an average price of less than Bt100,000 per square metre can be found in the area around the BTS extension route, or located deep in sub-roads.

Moreover, the price of condominiums around the late Sukhumvit zone also depends on the proximity to the CBD area.

For example, the price of condominiums situated near Thong Lo Station would probably command higher rates than those further out near the extension line.

"The Sukhumvit condominium market's future is bright, particularly in the prime zone," Risinee concluded.

"With selling prices continuously rising, this market will attract all type of buyers, including those who exhibit real demand and long-term investors who are either affluent Thais or foreigners.



 
 

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University Property - Student Market

Property Perfect enters varsity market
 
After several years of planning, Property Perfect has turned its focus on the university-student market with the introduction of a new dormitory design under the Uniloft brand.
The company's first two Uniloft projects are located in Chiang Mai and the Salaya area of Nakhon Pathom.

The listed developer is also considering introducing the concept in Khon Kaen province, with the original projects having achieved an occupancy rate of 50 per cent during university breaks and more than 90 per cent during term time.

Saranyu Ngowsirimanee, senior manager of the company's project planning department, said the project design had been inspired by an Australian university hall of residence in which he stayed when studying in Melbourne 10 years ago.

Each unit is designed to have two bedrooms, living room, bathroom and walk-in clothes cupboards. Wall space is designed to accommodate student accessories, such as computers and books.

Meanwhile, project facilities take a leaf out condominium style by including a swimming pool, fitness room, study room, meeting room, laundry room, laboratory and convenience store.

Each project also separates the buildings into those for women only and men only, making sure the dormitories are safe for young residents.

"We took more than four years before launching the Uniloft project brand on the market, and we believe the concept will expand to other locations close to universities," he said.

Property Perfect also plans to launch the Uniloft design as condominiums for sale in the final quarter of the year, he added. Uniloft Condo projects in Salaya and Bang Na - the latter close to the Assumption Bang Na campus - will be worth Bt2.1 billion combined.

"After launching the Uniloft dormitory design, which received positive feedback from the market, many parents with both a son and daughter residing in the dormitories said they also wanted to buy a unit with the same design so that their children could stay close together," he said. This is a new Property Perfect business model for the future, said Saranyu

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BoT warns Thais to prepare for future fluctuation of baht

BANGKOK (NNT) – The Bank of Thailand (BoT) has warned the country regarding the fluctuation of the Thai currency, reasoning that the baht has been appeciating against other currencies since the beginning of this year even though its value has dropped slightly recently, thanks to the bank’s interest rate policy.

According to the BoT, capital outflow in May has caused the Thai baht to depreciate.

The Bank is urging all investors to be cautious and keep a close watch on the currency situation, adding that the baht could be volatile, moving up and down every day.

The bank said the factor behind the devaluation of baht was the cut in the policy interest rate by 0.25 percent.

The interest rate cut was an attempt to bolster economic growth.

The BoT also said the Chinese economy has begun to slow down, expanding only 7.7 percent in the first quarter of 2013, adding that the lower-than-expected growth could affect investors’ confidence in the second quarter, and will likely have a negative impact on the entire region as all Asian countries are connected.

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Thai stock market remains attractive despite index plunge



BANGKOK, June 13 

Foreign investors will continue their long-term investment in the Thai bourse despite an index plunge for almost two weeks, according to an executive of the Stock Exchange of Thailand (SET).

Pakorn Peetathawatchai, SET executive vice president, said the MSCI indices on the investment ratio and attractiveness of the Thai stock market remain unchanged and the current capital outflows should be only short term.

Investors in the Thai stock market are more diverse with newcomers and asset management institutions which have initiated stock funds by 39.4 per cent more than last year, apparently in accord with the higher SET index, he said, adding that trading volume has increased from Bt7-8 billion to Bt12 billion a day.

He said stock indices in the TIP group -- Thailand, Indonesia and the Philippines --dropped sharply with Thailand at 7.01 per cent, the Philippines at 6.63 per cent and Indonesia at 9.05 per cent during June 1-11.

However, the stock market sentiment will remain volatile from the global economic impact and a close monitoring of the US quantitative easing is necessary.

Thailand's fundamentals remain strong and the government's investment infrastructure development will stimulate the economy this year, he said.

MCOT online news

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01 July 2013

The housing market five months in 2556 (2013).



Residential building registration.

During Jan-Apr 2556 residential units completed registration in Bangkok - Bangkok, about 2.9 thousand units | (16 per cent decrease compared to the same period last year, which amounted to 2,555. 3.4 thousand units) with a total registered units completed 47 percent of housing units built, all new registrations. 42 percent compared to 56 percent through the year 2554 through the year 2553 and 57 percent through the year 2552.

For residential house with 30 percent of units | Residential New registration completed.

Townhouse with 10 percent of residential and commercial buildings account for 11 percent.

The registration of new housing units built for rent has decreased in Bangkok - Bangkok from 2555 onwards due to the shortage of labor and the impact of natural disasters. The building construction is delayed until completion. (I need to finish the building. To be registered as a new unit.)

Ownership housing.

During Jan-Apr 2556 with the transfer of ownership of housing in Bangkok - Bangkok Area units totaling approximately 4.8 billion (up 9 percent compared to 4.4 thousand units in the first four months of the year. 2555) with an ownership share of 08.01 thousand apartment units or 38 percent of all housing units. The house is home to 32 percent of the buildings are 19 percent and 9 percent, commercial residential house percentage.

Units from townhouse to a transfer of ownership. As new townhouse for sale townhouse 44 percent and 56 percent of the house that are transferred. 45 percent share of a new detached house for sale 55 percent.

I have seen that a horizontal transfer in Bangkok - Bangkok. Used mostly as a unit. The unit has been transferred to a new apartment, mostly. Because the market has launched many new projects on a continuous basis during the past 3-4 years.

Launched a new residential project.

During Jan-May of the year 2556 has launched a new residential project in the city - including the perimeter of the 173 projects totaling approximately five thousand units over the same period of the previous year.

Number of new projects all The project is divided into 94 housing units, approximately 1.6 billion units by the operator, which is listed on the Stock Exchange with a market share of around 65 percent in the number of housing units sold new.

The remaining 79 condominium units, including 3.3 thousand units by the number of households, which is listed on the Stock Exchange with a market share of approximately 70 percent of all new units sold units. Shows that the major operators also directs the movement of the housing market in Bangkok - Bangkok.

Compared to the first 5 months of 2555 with residential projects launched in Bangkok - Bangkok Area includes 141 projects with units totaling approximately 3.8 thousand units of this number as housing 79 the number of units, including 9,800 units of the company. Listed 61 percent.

As a condominium project with 62 units including 2.8 thousand units, a project of the listed 70 percent of the number of new units launched in this period.

Why has the number of projects and the number of units launched a large increase this year in both houses and condominiums. In the same period of last year, also during recovery after a major flood.

The opening of a new condominium project has started to slow down during 2556, with the opening of new selling Em.i.-p.c. only 6,000 units after the first quarter and 2.7 thousand units.

The launch of new housing projects in 2556 with approximately 6,100 units during the month Em.i.-p.c. after the first quarter, about one thousand units of data center real estate projects expected to have a greater proportion of new housing. During the rest of the year.

For the province. Entrepreneurs continue to launch new residential projects increased in both housing and condominiums. But less than a year, representing a growth except in some provinces in 2555 found that the number of such units are units of volume in Chonburi and Khon Kaen.

Meanwhile, the price of land, which had a very high rate doubled in several provinces of the Northeast began to slow down in the heat.

Despite the price will continue to increase, but the increase in the rate of decline.

LAND in UDON THANI hits 40 million Baht per Rai.



Economic pressure on land fertility Udon Thani Rush Ranch 40 million Plaza Hotel St. Louis seal Nippon Pack for AEC.

Mr. Financiers Weerachatyanukul School. President of the Executive Plaza Shopping Udon UD Town, Udon Thani, said that the rising price of land is very high.

By the year 2551, gold prices along six hundred acres at current price is 40 million baht per rai, a fast-growing economy and the province's border with Laos.

There is also the airline's Business Air from Korea. To have a direct flight path or directory or file. From Thailand to Korea with.

It starts to open in the third quarter of this year, which will result in more visitors in Udon Thani.

The possibilities of growth.
The company decided to expand the business with Nippon Pack (Thailand), a manufacturer and distributor of plastic packaging into the joint venture in proportion of 20.51%, or shares eight hundred thousand shares of 100 Baht 80 million for The 4-star hotel project.

For the hotel project.
Initial development of 120 rooms with an investment of 120 million acres of land in two UD Town project is expected to begin construction and open it up with the opening of the ASEAN Economic Community in 2558.

"I know the manager personally by Gen. Nippon Pack Wichita Drug Tip Chairman Nippon Pack (Thailand) to the shareholders to expand the customer base of UD Town and wider. And see that Udon Thani has a very high growth potential, "Mr. Korn said.

While UD Town project was opened in 2552 on an area of ​​25 acres consisting of UD Town Center area of ​​1.3 thousand square meters of shops UD Bazaar stores a new version of one thousand square meters area. . and UD Hall 1500 Sq current customers come to two thousand people a day on weekdays and from 2.5 to 3 thousand people are expected this year, revenue at 150 million. from 140 million in the prior year.

Mr. Surapong Triamchanchai Managing Nippon Pack said that in addition to the investment in Udon Plaza, the company is also interested in the acquisition of food to support the growth of its core business. Is a manufacturer and distributor of plastic packaging. It is aimed to have a return on investment of at least 10% of the Company's cash, 400 million of which provided for the acquisition of 300 million baht.

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Japan bought the Condo.



Terms of the Japanese invasion of Thailand by a lot. Investment by central Thailand after the AEC.

Hot Point Sukhumvit also does not deteriorate.

The landscape Foosriboon Microbiology Maneechot Senior Vice President Corporate Plus commuter Pettit said that now that the Japanese tend to focus a lot more real estate in Thailand.

In particular, the purchase of a condominium project for the lot to be leased to the Japanese together in the establishment of a legal entity, because the demand for housing in the city. The Japanese increased.

From the Japanese retail investors to invest in Thailand, and a major ongoing Although the issue of rising labor costs $ 300 per day to make new investments. Some of Japan's move to Indonesia. But Thailand is also the base of the Japanese.

The factors for the ASEAN Economic Community or AEC with the Japanese investors to use Thailand as a base contact border trade with neighboring countries. Thailand has the facilities and over those countries.

"Before you talk to the Chinese. Russia to buy the condo lot. Well, if the Japanese actually have a clearer picture than Especially this year, with more growth. The current demand for rental housing in the heart of Sukhumvit 70-80% more than the Japanese, "said landscape Foosriboon said.

While most Japanese business focus remains on Sukhumvit Soi 24 and Soi 55 (Soi Thonglor) Sukhumvit area and moved to present it.

The room is divided by a popular one for the Japanese single bedroom and two bedroom about 70 square meters (sqm) for family.

The Japanese are interested in purchasing a unit price of about 3-15 million baht

For such a move is consistent with the results of CB Richard Ellis (Thailand), Real Estate Consultants, stating that the current landowners to develop land is used in the heart of Sukhumvit apartment leased to the Japanese. Because the demand is much higher.

Room rate from 55 to 66 m² in size from 3.8 to 4.5 per thousand in size from 120 to 125 square meter two-bedroom rents space from 6.8 to 7.8 thousand per month and a 3 bedroom. 170 m from 9 to 9.4 thousand rent per month.

The survey research division of CB Richard Ellis at the end of 2555 found that the A and B grade apartments in the Sukhumvit area.

Between Soi 1-65 and Soi 2-44 of about 8,500 units in the year 2556 will have added about 250 new apartment units, and the average occupancy rate reached 91.4%.

Although Thailand has increased the minimum wage to 300 baht a day wage labor but also cheaper in Japan is very professional.

The Japanese investors to set up base in Thailand last segment continuous auto parts from Japan. The middle income households.

Small manufacturing base has moved up in Thailand.

In addition, the Japanese real estate investment groups include Mitsui Fung Sang Condo Residences Financial.

Japan's major real estate firm has expanded its investment into Thailand. Joint venture with Ananda VENTURES Limited. New company.

The initial investment of 1,800 million for development projects in the Metro. It brings innovative design and construction of the Japanese.

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Student demand drives Bang Saen's condo market

The total supply of condominiums in Chon Buri's Bang Saen area, completed or registered with the Department of Land, is approximately 4,380 units, according to the latest report on the area by Colliers International Thailand

Surachet Kongcheep, senior manager of the research department at Colliers International Thailand, said the more interesting areas were northern and southern Bang Saen, as there were many condominium projects under development in both areas.

Students from Burapha University are the main driver for condominium projects in these areas.

They have changed their lifestyles from using apartments to condominiums, and then sell their units after graduation.

"All condominium developers in the Bang Saen area are local developers, but some listed developers are planning to launch new projects too.

In addition, the average price as of May has increased year on year by around 7 per cent," he added.

Many condominium projects were launched in the past few years, so a lot are now under construction and will be completed in the next few years.

However, in Angsila, Surachet said only about 240 units were under construction and scheduled to be completed within the next two years.

More than 600 units are expected to be completed this year in northern Bang Saen and more than 440 units in southern Bang Saen.

Both areas have become fashionable for condominium developments in the past few years, because of the high number of land plots available at reasonable prices, said Surachet said.

The main buyers in the Bang Saen area are students from Burapha University or people who work at the university, as well as those who work in Muang district.

Approximately 87 per cent of units launched between May 2012 and May 2013," Surachet said.

He added that although condominiums were more expensive than apartments, students from Burapha University preferred condos because of the support facilities - such as car parks and security systems. This also attracted investment in condominiums around the university.

There are more than 30,000 students on Burapha University's Bang Saen campus, with about 6,000 new students this year.

The selling price in the Bang Saen area ranges from about Bt750,000 to more than Bt8 million per unit, or around Bt29,000-Bt115,000 per square metre.

The average price of condominium units in the area is about Bt45,600 per square metre - an increase of around 7 per cent from last year.

"The average selling price in southern Bang Saen is higher than other locations by 12-45 per cent as it is located closer to the university, where students and employees are the main target group," Surachet said. "Moreover, land prices in the area are higher, which directly affects the price of condominium units.

"The average price in northern Bang Saen has increased from 2012 by more than 15 per cent, because many condominium projects launched in the past two years are almost finished."

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August 12, 2013

SCB seeks to promote more condo mortgages

Siam Commercial Bank, the largest mortgage lender of the commercial banks, has attempted to expand the number of housing loans to condominium buyers because they are less likely to default, said first executive vice president Pikul Srimahunt.

She said the rate of non-performing loans (NPLs) from condominium buyers was less than 1 per cent, compared with 2 per cent for townhouses or detached homes.

In the first half of this year, SCB increased its condominium mortgages to 15 per cent of the total portfolio of Bt400 billion, up from 12 per cent as of the end of last year.

It wants to increase the proportion to 20 per cent, Pikul said.

She said reaching that target would be a challenge because condo buyers prefer paying cash.

SCB will join forces with developers to offer attractive campaigns to entice such buyers to opt for instalment plans.

Pikul said that despite the rising levels of household debt in Thailand, SCB's rejection rate was unchanged from 18 per cent.

On average, its mortgage customers have monthly incomes of Bt30,000 and the home price is Bt2 million.

SCB, this year, anticipates new housing loans of Bt110 billion; in the first six months, it saw Bt67 billion worth of new mortgages.

Outstanding loans this year are expected to climb to Bt420 billion.

Meanwhile, after testing the waters by way of a pilot project in cooperation with Pruksa Real Estate.

Thanachart Bank aims to start offering mortgages to self-employed individuals who are unable to access housing loans from other sources.

Nathapol Luepromchai, senior vice president of TBank, said the self-employed were regarded as high-risk customers because they have no financial statements.

Therefore, to avoid bad debts and help them access housing loans without requiring monthly income assessments, they will be required to show steady cash flows.

Already, half of TBank's mortgage customers are self-employed, but the pilot project with Pruksa focused on vendors.

This would be a new segment for TBank, but it will make sure they have sufficient income, he said.

The bank has designed a new programme allowing self-employed people to buy homes costing up to Bt3 million.

The customer has to keep a deposit account at the bank for at least 12 months, and the savings will be the down payment.

If the customer wants to buy a home for Bt1 million, for example, he or she should deposit about Bt7,000-Bt8,000 per month.

When the account has enough in it to cover the down payment, the bank will approve the mortgage, Nathapol said.

He said the interest rates for this segment might be 25 basis points higher than for general customers.

TBank projects Bt1 billion in new loans from the programme. He said the bank would expand the programme with other developers if it attracts high-quality borrowers with good credit.

In the first six months, TBank booked new housing loans of Bt7 billion.

The average credit line increased to between Bt2.5 million and Bt2.8 million from Bt2 million because of the rising price of homes.

For the second half, TBank projects new loans of Bt18 billion, bringing its outstanding loans this year to between Bt83 billion and Bt84 billion, for growth of 6-7 per cent.

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Bangkok Bank Gives Loans to Foreigners for Buying Condos

Expats can get loans from its Singapore branch BANGKOK:

It is not uncommon for foreigners to buy a condominium in Thailand, but so far it has been quite difficult for them to seek a mortgage.

That is set to change.
 
Expats who want to own condominiums in Thailand can now ask for mortgages through Bangkok Bank's Singapore branch, but the initial process can be done at branches in Thailand.
 
Bangkok Bank (BBL) is the only bank offering such a facility to foreigners.

Under the current law, foreigners are not allowed to own land but they can own a condominium if not more than 49 per cent of the units are foreign owned.
 
For example, if there are 100 units in a condominium project, only 49 units can be sold to foreigners.

However, the Bank of Thailand (BOT) does not allow banks in Thailand to lend directly to foreigners.

Expatriates wanting to own a condominium have had to transfer their money from overseas, or save in order to buy, which may take a long time and waste money on rental costs before they can get their new homes.
 
BBL requires borrowers to buy homes priced at least US$300,000 (Bt9.64 million) or equivalent, while offering a credit line of around 70 per cent of the price but not lower than $200,000 or equivalent.
 
Loans will be given in three currencies, US dollars, Singapore dollars, and euros. The mortgage rates depend on the currency.
They are:
US dollars
- prime lending rate (5.0 per cent) plus 1.5 per cent per annum, or 6.5 per cent;
Singapore dollars
- prime lending rate (6 per cent) plus 1.5 per cent, or 7.5 per cent; and
Euros
- prime lending rate (6.5 per cent) plus 1.5 per cent, or 8 per cent.
 
These rates are as of last Monday.

The maximum term of a loan is 20 years but the term plus the borrower's age shall not be over 65 years.

Because lending to foreigners involves high risk and there are few competitors, the bank cannot lend more than 70 per cent of the purchase price.

The bank also needs to quote floating interest rates, while the property asset will be pledged as loan collateral. Borrowers also have to pay $2,000 in front-end fees, which are payable in two stages.

There is a non-refundable $200 fee when submitting a loan application, and the remaining $1,800 is to be paid when the letter of offer is accepted.

If there are any amendments after loan approval, the borrowers must pay $120.

There are also prepayment fees, which are charged at 1.5 per cent of the prepaid amount and a cancellation fee, which is charged at 1.5 per cent of the loan approval amount.
 
Other expenses, including legal costs, valuation fees, fire insurance premiums and others must also be paid by borrowers.
 
Documents required are a completed mortgage loan application form;
 
copy of identification card (front and back) or the essential pages of the passport;
 
signed copy of sales and purchase agreement or reserve agreement;
 
a bank's reference letter addressed to BBL to confirm the banking relationship and type of account, size of loan and deposits with the bank;
 
the last six months' bank statements;
 
and a credit bureau report from the country of residence.
 
Individuals earning a monthly salary need an employer's letter addressed to BBL, confirming position, period of experience, and remuneration;
 
income tax returns from the last two years;
 
the last six months' computerised pay-slips;
 
and a work permit for those working in Thailand.
 
Self-employed individuals need the last two years' balance sheets as well as a profit and loss statement and the last two years' income tax returns.
 
Foreigners looking for a second home and who are interested in this mortgage can ask for more information at the bank's head office.

Everything will be done in Thailand through BBL's cooperation with its branch in Singapore.

If all required documents are submitted correctly, the approval process may take only two weeks.

Customers do not need to travel to Singapore as the bank in Thailand will process the application.   


By PG Thai Real Estates in Thailand (26-08-2013)

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CONVENIENCE STORE CHAIN "108"

Saha Lawson JV plans to expand convenience-store chain in Asean

After forming a joint venture in March with Saha Pathanapibul to operate the latter's 108 Shops, Lawson Inc, operator of Japan's second-largest convenience-store chain, has set out a plan for ambitious growth in Asean with Thailand as its regional base.

Takeshi Niinami, chief executive officer and representative director of Lawson, who in charge of the firm's overseas business strategy, said yesterday that Thailand remained a dominant and strategically critical country in this region, and this would be even more the case after 2015.

"We will position Thailand as a strategic base for expanding our business, and we are also aiming to set up a merchandise development centre for the ASEAN region, with the cooperation of various business partners.

We also plan to establish a training centre to support skill development of our people and foster a learning culture in the region to contribute better to our customers."

Boonsithi Chokwatana, chairman of Saha Group, said the partnership and business plan would create a new network of convenience stores across the Kingdom in the future and provide an alternative to the market.

Lawson will gradually convert Saha's 108 Shop convenience-store chain into Lawson 108s.

It will renovate some existing shops and build some new ones in Bangkok and nearby provinces.

Lawson 108 will offer fresh original food and merchandise with high-standard Japanese quality using the best raw ingredients, according to the company.

Saha Lawson Co yesterday opened its first Lawson 108 store at The Emporio Place in Bangkok.

Boonsithi said the company would accelerate its store-expansion plan from September.

It plans to open 50 Lawson 108 stores this year and have 1,000 across the country within five years.

It expects the cost per branch to be Bt5 million, he said.

Furthermore, Saha Lawson will provide attractive products and services tailored for the food culture and the customer's needs in Thailand.

It will bring proven expertise and excellence from Japan, which is well accepted in Thailand.

"We are applying the technology of Lawson in Japan to leverage Lawson 108 in Thailand.

The technology will help analyse the requirements of Thai consumers, and this will lead to product development to tap [new] customers," he said.

Boonsithi said the company was conducting a feasibility study on opening Lawson 108s in Myanmar because consumer spending is rising there.

Lawson's overseas network at present is in China, Indonesia and Thailand.

Saha Pathanapibul, a giant in consumer products and a listed company, reported net profit in the second quarter of Bt395.15 million, up from Bt305.62 million in the same quarter last year.

The net profit in the first half was Bt690.35 million against Bt515.51 million year on year.

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REAL ESTATE / COMMERCIAL

GREAT NEWS FOR INVESTORS

For those foreign investors that are not yet aware:
 
There are now great chances / opportunities to buy a commercial property in Thailand 100% on your own name (Foreign name). Commercial property types exemptions apply.

That is whether you choose to operate business yourself or simply rent the property on a commercial lease for an income

01 -09 -2013
By PG Thai Real Estates in Thailand.

[halfway inn]

FDI

Thailand remains attractive to foreign investment

BANGKOK: -- The majority of foreign investors operating in Thailand are bullish on the outlook of their operations, according to a survey by the Board of Investment.

Sixty three per cent of foreign investors operating in Thailand plan to maintain their investment during 2013-2014.
 
Meanwhile, 34 per cent plan to expand their investment in the Kingdom.

Chokedee Kaewsang, deputy secretary-general of the BoI, said that among the investors planning expansion are those from Japan, China, and Europe.

No foreign investor indicate a plan to move out of the Kingdom, he said.

The foreign investor confidence survey also showed that the efficiency of the supporting sectors as well as abundance of raw materials is the first reason encouraging these companies to maintain or expand their businesses.

Other supporting factors are the infrastructure and tax privileges from the BoI.

Foreign investors also viewed that compared to other ASEAN nations, Thailand has an advantage as a manufacturing hub.

Thailand has won the 3.64 score (out of 5), being the second only to Singapore (3.79).

These investors also expected an improvement in revenue and profits from the operations in Thailand in 2013 and 2014.

The survey showed that 13.6 per cent of foreign companies here are interested in or plan to invest in other countries - chiefly Indonesia, Myanmar and Malaysia.

the nation 12-09-2013

[Oytopikos]

BANGKOK: -- Deputy Minister of Finance and the director of Customs Department, Ms. Benja Louicharoen, finally confirmed that the tax for luxury goods will not be cut.

According to the Deputy Finance Minister, the latest report on luxurious goods import this year worth a total of THB 100 billion. The product with highest total is perfume with THB 15 billion, increased by THB 4 billion.

Meanwhile, Bags comes in second with THB 11 billion, THB 3 billion higher. Next are watches with THB 2 billion increase from THB 8 billion.

Clothing sector also earned THB 6 billion in total with THB 1 billion higher. Eyeglasses doubled from THB 1 billion to THB 2 billion this year, and the rest is miscellaneous merchandises.

The deputy finance minister then admitted that there will be no tax cut on these luxurious import goods as domestic entrepreneurs would be harmfully affected. Moreover, there is also no guarantee that the prices will be reduced.

It is now up to the Fiscal Policy Office to come up with another approach to support Thailand as a shopping paradise, regarding the purpose of the government policy, said Ms. Benja.

http://www.khaosod.co.th/en/view_newsonline.php?newsid=TVRNNE16QTBOemt4Tmc9PQ==

[halfway inn]

DOUBLE IMPACTS

Foreigners pull money out of Thai stocks and bonds

BANGKOK: -- Foreign investors' extended retreat has raised their net-sell position in the Thai stock market so far this month to Bt18.7 billion, amid the raging political chaos at home and rising volatility in the global financial market.


On Wednesday 13 November 2013, foreign investors sold Thai shares worth Bt10.2 billion against purchases of Bt5.9 billion, resulting in net sales of Bt4.28 billion.

This followed the Bt3.3 billion in net sales on Tuesday and over Bt1 billion on Monday.

The year-to-date net-sell has ballooned to Bt123.95 billion.

Global funds have also pulled some investment from Thai equities this month.

The baht opened at 31.61 per US dollar before closing at 31.60.

On Monday, it fell as far as 31.705, the weakest level since September 18.

The baht has given up 1.5 per cent over the past two weeks.

Besides the prolonged political protests, and despite the call from the private sector for all demonstrations to end, the baht was also marching along with other Asian currencies as investors waited for a clearer sign on the beginning of "tapering" in the US.

New Federal Reserve chairwoman Janet Yellen will appear before US senators today to defend her nomination as Fed policy-makers debate whether the stimulus policy known as quantitative easing is still needed to shore up the world's largest economy.

The greenback rose against the Singaporean dollar, Taiwanese |dollar, South Korean won, Indian rupee and Philippine peso.

World Bank President Jim Yong Kim said on Tuesday in Washington that emerging markets are likely to see considerably more impact from higher US interest rates when the Fed pulls back from its massive monetary stimulus.

In May, then Fed chairman Bernanke shocked emerging markets when he raised the possibility that the US central bank could soon embark on a drawdown in its bond-buying programmed.

Thailand, Malaysia and Indonesia were particularly hard hit by capital outflows after Bernanke's comment.

"We think we've seen about a third of the overall increase in interest rates responding to that first announcement," Kim said.

"As US interest rates go up, what we're going to see is it will be even more difficult to get access to the kind of capital for infrastructure investment that developing economies need."

Prasarn Trairatvorakul, governor of the Bank of Thailand, insisted that there was no irregularity in capital outflows from the country.

Movements in the stock and bond markets as well as in foreign exchange rates remained "orderly".

There was no special concern that required action from the central bank.

"Overall, the condition is in order," he said, implying that all the proceeds from the dumping of Thai shares and bonds have not yet left the country.

Foreign investors are just keeping a close eye on the unfolding political situation.

The Nation