The events in Bangkok in May 2010 have raised concerns about the recovery we were seeing in many sectors of the Thai property market in the first quarter of 2010.

However, it will take months to see what the effect will be on sales and letting volumes, prices and rents. We do not believe there will be a sudden a dramatic downward movement in prices or rents.

The total supply of expatriate standard apartments in downtown Bangkok increased 2.3% year on year. Occupancy was 88.2%. Rents rose in some locations such as Central Lumpini but fell in other locations.

Despite the increase in the Bangkok hotel supply, Bangkok occupancy rates and REVPAR increased but the Average daily rate decreased in quarter 1. International Tourist Arrivals increased by 27.1% on Q1 2010. Obviously Q2 numbers will be very poor and it remains to be seen how long it will take for business and tourist arrivals to recover.
The majority of new condominium launches in the first quarter were mainly small one bedroom units.

The office market remained weak. There was no increase in supply. Take up grew by 17,481 square metres. Grade A CBD rents fell by 3.8% year on year.

Retail Occupancy increased to 93.4%. Rents remained at similar levels. A number of shopping centres were closed in Central Bangkok for much of April and May.

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

There was 175% increase in townhouse completions on quarter on quarter but developer built single detatched house completions fell by 74% quarter on quarter.

Condominium

The existing supply in downtown Bangkok reached 67,176 units, up from 65,067 units in Q1 2010. This was an increase of 3.2% Q-o-Q and 15.8% Y-o-Y. There were 2,109 units completed in this quarter. Another 5,220 units are scheduled to be completed by the end of 2010 which will raise the total downtown condominium stock significantly to 72,396 units, or by 11.3 % Y-o-Y.

In Q1 2010, the average asking price for an off-plan freehold condominium unit (high-end and above) in downtown Bangkok was 156,460 THB/m2 an increase of 19.2% Q-o-Q or 3.0 Y-o-Y.
The total number of units occupied by owners or tenants decreased from 74.2 in Q4 2009 to 74.0% in this quarter.

The latest accommodation option tourists and business visitors have in Bangkok is Bangkok serviced apartments. These apartments are fully furnished with necessary items like dishes, linen and entertainment systems to make your stay in Bangkok a great one. The Bangkok serviced apartment is cleaned by a maid who comes in daily and whose rate is included in the price of the apartment. Most buildings also have additional features like gym, coffee shop, laundry rooms, restaurants and more.

Rate wise, Bangkok serviced apartments are quite reasonable when compared to hotels. So you tend to save more by staying in these apartments. It is not the rate that attracts visitors to Bangkok serviced apartments; it is the homey atmosphere it offers that brings patrons to the apartment. The best place to look for information about the different Bangkok serviced apartments is the internet where there are lists of different apartments available for hire. These sites offer instant credit card booking facilities and usually quote prices for the Bangkok serviced apartment in both American dollar and Thai currency.

However first time users had better use the help of a travel agency, with experience in Bangkok serviced apartment, to find out what they have to offer for your stay in Bangkok. Before choosing your accommodation, you have to look for references and reviews about both the travel agent and the location you select. With this information, you will be able to decide just how feasible the Bangkok services apartment is for you to.

Bangkok serviced apartments are usually let on leases of a month to a year or longer, where one months’ rent is to be paid as deposit and two months rent as security that will be returned on the termination of the lease period. Shorter stays are considered more of a hotel stay than an apartment stay. As usual, before signing on the contract for the Bangkok serviced apartment, make sure you read the information thoroughly, and clarify all clauses and terms you don’t understand.