1 Bedroom Condo for Rent in The Urban Pattaya

45 SQM 1 Bedroom Condo  now available in The Urban Condo Complex in South Pattaya!

The Urban Pattaya is conveniently located right off of Pattaya 2nd Rd and soi 15 right behind The Avenue Shopping Center

 

The living Room is fully furnished including flat screen TV, air con and a private balcony

The bedroom also has air con along with king size bed, full linens, flat screen TV and built in wardrobe

Kitchen includes granite counter tops, 2 burner electric stove with hood, microwave, kettle, toaster, and refrigerator.

The Urban Pattaya features communal swimming pool, fitness center, business center, restaurant, covered parking, cctv, key card entry and 24 hour security. 

6 Month: 25,000B/Month
1 Year:    23,000B/Month

For more information or to arrange a viewing please email

Brian@bigmangoproperties.com

id# 28586

Thailands concerns over the rise of the Thai Baht

BANGKOK: -- The Bank of Thailand is widely expected to take action soon to rein appreciation of the baht as its "excessive" gain is having a widespread negative impact on the export sector as well as the government's tax revenue.

 

Bank of Thailand's former chairman says BOT should buy more dollars.

According to this article i found today on Thai Visa Thai's are getting concerned about the continual growing strength of the Thai baht against major currencies. Check out the article below...

Markets are braced for the action. Touching a new 16-year high yesterday with a 0.18 per cent rise from Friday's closing to 25.58 per US dollar, the baht later lost 0.2 per cent to 28.74 at 3.12pm. So far this month, the baht has gained more than 2 per cent against the dollar and 8 per cent over the Japanese yen, making Thai goods more expensive in the countries where trade is denominated in the two currencies.

Pakorn Peetathawatchai, Stock Exchange of Thailand’s executive vice-president, yesterday recommended investors to closely monitor exchange rates, saying that there could be capital controls due to the baht's excessive gain.

"It remains to be seen how the authorities will act to control the hot money. We can't afford to take no action. We have never witnessed the baht appreciate this quickly, or the sharp rise in the stock market like this," Pakorn said.

In the first quarter, the SET index gained 12.15 per cent, making it the world's best-performing market after Vietnam (18.7 per cent), the Philippines (17.1 per cent), Laos (15.9 per cent) and Indonesia (14.5 per cent). Overseas investors bought US$2 billion more Thai sovereign debt than they sold this month through to April 19, adding to net purchases of $9.8 billion in the first quarter.

To stem the baht's appreciation, former Bank of Thailand chairman MR Chatu Mongol Sonakul urged the central bank to buy more dollars, rather than cut the policy rate.

Speaking on the sidelines of a seminar yesterday, Chatu Mongol said that it is necessary to take care of the export sector, which is suffering acutely. He said he understood that financial stability is the BOT's priority, but it should also pay attention to economic progress.

He noted that heavier sterilisation - the buying of US dollars to depress the baht's price - would boost the BOT's accounting loss, but said that's just a figure. China's central bank has also accumulated more than $3 trillion in foreign currencies to stabilise the yuan. With reserves of more than $200 million - 60 per cent of gross national product (GNP), the BOT has the capacity to strengthen its sterilisation efforts, Chatu Mongol said.

He strongly opposed a cut in the policy rate, as suggested by Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong and exporters, saying that could spur consumption and hence inflation.

"It's better for the central bank to shoulder the sterilisation cost than to cut the rate, as higher inflation would affect the entire country," he said.

Foreseeing continued inflows of foreign capital, he noted that it was time to allocate some foreign reserves to finance a sovereign wealth fund, as the fund's overseas investment would counter capital inflows.

Hurting revenues:

While saying that the baht's rise is too fast, Paiboon Kittisrikangwan, an assistant governor of the Bank of Thailand, was adamant that BOT had policy options in hand. Yet, for now, it wants to observe market reactions and assess the necessity of measures.

On Friday, the Commerce Ministry, which still maintains this year's export target at 8 to 9 per cent, will hold a discussion with exporters. The Thai Frozen Foods Association earlier estimated that its producers will lose Bt20 billion for every Bt1 increase in the baht against the dollar. The association is fretting that it may fail to achieve its revenue target of Bt1 trillion this year.

The strong baht is also now expected to hurt the government's revenue projections.

Wanee Thasanamontien, principal adviser on tax strategies, said that export-oriented companies in particular will see a sharp decline in revenue when dollar-denominated income is converted to baht. With lower profits, the companies will also pay lower income taxes.

Meanwhile, the stronger baht would make dollar-denominated imports cheaper. The Revenue Department, which collects taxes according to CIF (cost, insurance and freight) rates, will then collect a smaller amount of tax.

This will further lessen the department's revenue, as the corporate income tax cut to 20 per cent this year would slash annual revenue by another Bt80 billion. Wanee estimated that if corporate earnings show annualised growth by 25 per cent or more, this would compensate for the missing revenue. The department aims to collect Bt1.77 trillion this fiscal year.

 

 The Nation 2013-04-23

Is Pattaya’s condo market facing a bubble?

According to recent numbers, residential increases in property - especially the condo market in the Pattaya Jomtien Beach area - have only risen on average of 1 percentage point per year. That is amounts to 4% combined over the last four years. These increases are inclusive of inflation consisting of both rising land prices as well as a significant increase in materials cost.

These numbers are much lower than the bubble of 1996, and the financial crisis of 1997… 11% lower from 1993 – 1996. In addition, home loan rates have increased only half (12%) what they were during the bubble of 93-96 where they topped out at 25%.

Although the last 2 years have seen an increase of 5%, versus the 2% FOR 2008 – 2009, this is in confluence with Thailands GDP which has been maintaining 2% annually. This is the same as it was 10 years ago.

Current supply seems to be meeting demand as Pattaya, Jomtien Beach, and Thailand in general continue to grow. This growth is attributed to rising foreign investment, foreigners ex-patriating and retiring in Thailand as well as domestic growth and investment as a whole.

Condo market continues to soar!

The Chonburi area is expected to see 13,000 new units this year alone with another 8,000 for the Hua Hin Cha-Am region. The greater Bangkok area is expection another 60,000 units up almost 43%. This according to a survey conducted by the REIC.

There have been some declines reported in low rise residential developments, Bangkok saw a decline of 29% in comparison to this time last year. The business section in "The Nation" has allot of buzz lately regarding housing and condo prices and the amount of current and expected development. I found these numbers and this article interesting and have posted it below.

THE NATION October 2, 2012 1:00 am

 

Huai Khwang, Chatuchak, Din Daeng, Sukhumvit from Phra Khanong to Samut Prakan, Chon Buri province, Hua Hin and Cha-am show signs of a condominium glut this year, according to the Real Estate Information Centre.

A survey by the REIC found that more than 13,000 condo units would enter the market in Chon Buri and nearly 8,000 units in Hua Hin and Cha-am this year. They will account for about a half of all sales in both locations.

In Greater Bangkok, the centre estimates new condo projects will supply 60,000 units this year, up 42.85 per cent from last year, and low-rise projects - detached houses, townhouses and duplexes - will supply 35,000 units, down 14.28 per cent. This will drive volume growth for the residential market to 15.85 per cent this year.

The full-year estimate for Greater Bangkok reflects the introduction in the first nine months of condo projects with 46,000 units, up 42 per cent from only 32,500 units in the same period of last year. Of those 46,000, 39 per cent or 18,000 units have usable space of 26 square metres or less, 36.9 per cent or 17,000 units have more then 30sqm and 23.9 per cent or 11,000 units have from 26-30sqm.

The first nine months recorded 24,000 units of new low-rise residential projects. This represented a steep decline of 29 per cent from 34,000 units in the same period of last year.

Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.

Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.

Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.

Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.

Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.

Prices in Greater Bangkok for condos rose 6.4 per cent on average this year, while detached-house prices increased 3.3 per cent and townhouse prices by 4.7 per cent. Developers had to cover their rising construction costs, he said.

The Bank of Thailand is also closely monitoring the condo market in Greater Bangkok as prices have spiked, central bank officials said last week.

The condo price index last month rose 8.1 per cent year on year, while mortgages increased 9.3 per cent. The detached-house price index climbed 2.4 per cent and that for townhouses 1.8 per cent year on year.

The supply of high-rise residential units in August expanded 4.8 per cent and that for low-rises by 13.9 per cent from July in Greater Bangkok.

Chonburi Condo market on the rise

In the hottest selling areas for condos such as Pattaya, Naklua, Jomtien, and even the proclaimed "Beverly Hills" of Pattaya..Pratumnak Hill, there seems to be one overshadowed market place.

Chonburi province in its own right boasts huge industrial compounds that require corporate housing for both Foreigners and Thal Nationals.

LPN Development is currently estimating demand at 10,000 new condominium units per year to house blue and white collar workers currently working in Chonburi factories and industrial estates. These new projects are slated to very reasonably priced starting at 550,000 Bt and not to exceed 2 Million Bt.

To gain a better understanding of just how much of a housing shortage exists through Chonburi's industrial compounds please check out the article below from "The Nation".

SOMLUCK SRIMALEE
THE NATION October 1, 2012 1:00 am

 

More than Bt20 billion worth of new condominium projects will be launched in Chon Buri province, including Pattaya, in the current second half of the year thanks to strong demand. Most of the demand is for condos priced lower than Bt2 million.

LPN Development says it sees demand in Chon Buri for nearly 10,000 condominium units per year.

These are located near eight industrial estates around the province, such as Amata, Laem Chabang, Saha Group's estate, three projects near Pinthong Industrial Estate, Hemaraj and Panthong Kasem Industrial Estate.

These estates host 479 manufacturing plants that employ more than 211,000 people, 10 per cent of whom are white-collar staff. Chon Buri also has five universities.

LPN Development managing director Opas Sripayak said many employees in the industrial estates and students and teachers in the universities rented serviced or unserviced apartments costing between Bt3,000 and Bt5,000 a month. But Chon Buri province has only 28 apartment projects with a combined 1,262 units, not enough to handle the rising demand.

The company's survey also showed that industrial-estate employees who want to buy a home needed the price not to be higher than Bt2 million.

As a result, the company decided to launch its latest condominium project, Lumpini CondoTown Chonburi-Sukhumvit, worth Bt2.6 billion. The project has 4,181 units at starting prices of Bt550,000, which have utilisation space of 21 square metres.

The project will open for booking next weekend.
By the end of last week, the company had already issued 2,000 queue tags to people interested in booking next weekend, and expects tags to total 2,500-3,000 before bookings open on Saturday.

This is an indication of the strong demand in this market after the company had successful launches of three condominium projects in Pattaya worth Bt8.2 billion in the first half of the year.

Sansiri also will launch its first condominium project in Pattaya, in the Wong Amat area, next weekend called Baan Plai Haad, worth Bt2.2 billion, with 353 units at a starting price of Bt3.59 million.

In the third quarter, Kingdom Property Co launched a condominium project called Southpoint Pattaya, worth Bt2 billion.

In the same quarter, Kotobuki Property launched a condominium project worth Bt95 million at Lamthan, Chon Buri province.

A survey by the Agency for Real Estate Affairs shows 87,500 residential units worth Bt246.5 billion in Chon Buri province, of which 60,241 have sold. The agency believes that the rest will be sold out by the end of the year because this market has strong demand, especially for units priced lower than Bt3 million.

Price of concrete continues to rise as demand from developers remains strong!

Saw this artice in "The Nation" If anyone is thinking Pattaya, The Eastern Seaboard, or Thailand as a whole is bubbling out you may want to have a look at this. It appears demand remains strong and pre-fab products to expedite development and cut labor costs is on the rise...Read more