The events in Bangkok in May 2010 have elevated issues regarding the healing we were seeing in lots of sectors of the Thai residential property market in the very first quarter of 2010.

Nonetheless, it will take months to see what the effect will certainly be on sales and letting quantities, rates and rents. We do not believe there will be a sudden a remarkable down movement in costs or leas.

The overall supply of expatriate useful businesses standard apartment or condos in midtown Bangkok raised 2.3% year on year. Tenancy was 88.2%. Leas climbed in some areas such as Central Lumpini however fell in other locations.

In spite of the rise in the Bangkok resort supply, Bangkok occupancy prices and also REVPAR raised however the Typical daily rate decreased in quarter 1. International Visitor Arrivals raised by 27.1% on Q1 2010. Undoubtedly Q2 numbers will certainly be very inadequate and also it continues to be to be seen how much time it will certainly consider company and tourist arrivals to recuperate.
Most of new condominium launches in the very first quarter were mainly small one room devices.

The workplace market remained weak. There was no rise in supply. Occupy expanded by 17,481 square metres. Quality A CBD leas fell by 3.8% year on year.

Retail Tenancy increased to 93.4%. Rents remained at similar degrees. A variety of shopping center were closed in Central Bangkok for much of April and May.

882 Rai (349 acres) of SILPs were marketed on industrial parks and estates in Q1 2010. This was a boost 891% y-o-y.

There was 175% boost in condominium conclusions on quarter on quarter however developer developed single detached house completions fell by 74% quarter on quarter.

Condo

The existing supply in midtown Bangkok reached 67,176 devices, up from 65,067 devices in Q1 2010. This was an increase of 3.2% Q-o-Q and 15.8% Y-o-Y. There were 2,109 units finished in this quarter. One more 5,220 units are arranged to be finished by the end of 2010 which will increase the complete downtown condominium stock substantially to 72,396 systems, or by 11.3 % Y-o-Y.

In Q1 2010, the typical asking cost for an off-plan freehold condo unit (high-end and over) in midtown Bangkok was 156,460 THB/m2 a rise of 19.2% Q-o-Q or 3.0 Y-o-Y.
The overall number of units occupied by owners or renters decreased from 74.2 in Q4 2009 to 74.0% in this quarter.