Authors Posts by Cheyenne Hollis

Cheyenne Hollis

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Cheyenne Hollis is Editor-in-Chief at Dot Property Group and Thailand Property. He has more than eight years experience covering real estate in Southeast Asia and China. You can reach him at [email protected]

As the Australian property market recovers, Crown Group believes sustainability of...

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generate more testimonials

Tips for real estate agents to generate more testimonials

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Virtual tours Thailand

Virtual tours are the future of real estate in Thailand

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Bangkok condo resales

Condo resales in prime Bangkok perform better than expected

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3 key questions facing the Philippine property market in 2021

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Anchan Hills Work from paradise

Forget work from home, it’s time you work from paradise

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The Bangkok condo boom has been derailed by the ongoing COVID-19 pandemic and its impact is expected to be felt once again in 2021. Colliers International Thailand estimates that only 20,000 units hit the market this year, the lowest total in 15 years, as developers curb new Bangkok condo launches. This total is slightly less than 2020 when 21,643 units were launched in the Thai capital, according to Colliers International Thailand. That is a far cry from the more than 66,000 units to come onto the market in 2017 or the nearly 45,00 launched the following year. While there had been some hope of new Bangkok condo launches recovering in 2021, Colliers International Thailand Associate Director of Research and Communications Phattarachai Taweewong told the Bangkok Post that the new lockdown order likely extinguished that hope with many developers expected to delay condo projects once again. "Some developers may consider delaying new condo launches again as they are uneasy about feedback from buyers amid with the contagion," Khun Phattarachai told the newspaper. "Low-rise houses will remain the rising star.” Related: Developers go low in Bangkok to avoid condo glut With new Bangkok condo launches sputtering, many homebuilders turned their attention to the low-rise housing sector and found success in the process. For example, more than 60 percent of Sansiri’s total sales last year came from low-rise housing. Meanwhile, SC Asset recorded revenue growth of 18 percent and profit growth of 26 percent during the first six months of 2020 due in large part to a 116 percent rise in housing sales. Many of the firm’s housing projects saw record-setting presales with many selling out completely. There will be some new Bangkok condo launches in 2021, but developers are being cautious in regard to location. A few new projects in and around Thong Lor are slated to be launched since demand here remains strong and supply limited. Additionally, a few developers are lining launches around the under-construction mass transit lines in suburban Bangkok.

New Bangkok condo launches expected to hit a 15-year low

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easy ways to reduce your water usage

Easy ways to reduce your water usage at home

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Thailand Special Tourist Visa

Thailand Special Tourist Visa allows visitors to stay in the country...

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video

3 key questions facing the Thailand property market in 2021

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