2024-03-15-莱坊-Thailand_Half-Year_2023_2H_2023_41页_8mb

报告摘要

Condominium Market: Sales faced headwinds due to high loan rejection and household debt, with developers shifting focus to middle-upper segments. Prices saw minor decreases, though luxury units remained resilient.
Luxury Housing: Market strength, especially in the 21–40 million Baht segment, with high selling rates. Supply growth faced loan constraints from Thai developers and increased costs, making high-end brands gain ground.
Hotel Market (Bangkok & Phuket): Strong tourist arrivals in 2023, particularly leisure, boosted occupancy rates and ADRs. Affordable options performed better, while demand from Chinese markets slowed due to economic factors.
Office Market (Bangkok): Net absorption increased, but green-certified units saw higher demand. New supply pressures reduced some grades’ occupancy and rent growth. Post-pandemic, wellness features and remote-work-friendly spaces are key investment trends.
Logistics Market: Warehouses saw supply growth but reduced demand in H2 2023 due to supply chain slowdowns. Greater reliance on electrification and specialized needs (e.g., cold storage) highlight sector changes.
Manufacturing Sector: Focused on EV/electronics, with increased investment. Serviced industrial land sales surged due to relocations and onshore demand. Price pressures and geopolitical events remain concerns.

Economic recovery remains slow, with modest GDP growth and trade surplus but increased inflation and interest rates.
Tourism (especially Chinese and MICE) is critical for improving hotel and hospitality outlook.
Developers and businesses face financing and operational challenges due to rising costs and loan restrictions.
Thematic shifts—ESG, wellness, EV, logistics sector —drive strategic future investments.
Overall, Thailand’s property markets are experiencing a period of restructuring, with resilience in some segments and vulnerabilities in others.

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