Favourable factors to drive the Thailand property market forward in 2023
BANGKOK, Thailand — The long-running PropertyGuru Thailand Property Awards programme returns for its record 18th edition as demand for award-winning, high-quality homes starts to rise again after the headwinds of the pandemic.
The 18th PropertyGuru Thailand Property Awards 2023, presented by Mitsubishi Elevator (Thailand) and supported by JLL, is now calling for submissions to join an elite ranking among Thailand’s finest property developers, design practices, and developments, and raise the Gold Standard in real estate. Submissions are accepted online via: asiapropertyawards.com/nominations
The latest edition of the prestigious awards comes as favourable factors drive the kingdom’s real estate industry forward, according to the latest Thailand Property Market Report by DDproperty.com, the official portal partner of the Awards.
Overall housing Demand Index in the fourth quarter of 2022 increased 47% from the pre-pandemic period (Q4 2019), according to the report. The Price Index of residential property for sale in Bangkok is also likely to increase in 2023 while property seekers need to be ready for higher inflation and interest rates.
Meanwhile, the reopening of China is expected to drive the recovery of tourism in Thailand forward. Transport infrastructure developments will also continue galvanising the property market.
Fringe and outskirt areas of Bangkok with access to the SRT (Red Line), MRT (Blue Line) and BTS (Green Line) routes, in fact, recorded the highest Price Index growth in Q4 2022.
Wittaya Apirakviriya, general manager of DDproperty, Marketplaces (Developer) and Think of Living, said: “We expect the residential property market in Thailand this year to benefit from several factors, including the return of tourists from China and the continued expansion of rapid transit lines in Bangkok. Overall, there is no indication of an oversupply, and the remaining stock on the market will gradually continue to be absorbed. Home buyers, however, must be financially ready this year for the increased cost of housing due to inflation and interest rate hikes, among other reasons.”
Wittaya today joined Jules Kay, general manager of the PropertyGuru Asia Property Awards and Events, as well as Suphin Mechuchep, chairperson of JLL Thailand and the chairperson of the judges of PropertyGuru Thailand Property Awards; Paul Ashburn, co-managing partner of HLB Thailand, the Official Supervisor of the Awards; and Kaori Takahashi, managing director of Mitsubishi Elevator (Thailand) at the media launch of the Awards held at the VA Drawing Room of The Athenee Hotel, a Luxury Collection Hotel, Bangkok.
Jules Kay, GM of PropertyGuru Asia Property Awards and Events, said: “We are delighted to be launching the 18th PropertyGuru Thailand Property Awards at a time when Thailand’s property market is showing momentum. Market optimism is high, with domestic buyers showing a healthy appetite for real estate purchases, while international buyers and investors are returning on the back of a strong travel rebound. With their proven regional impact, well established credibility and an independent judging process the PropertyGuru Thailand Property Awards support this positive market sentiment by pushing the bar of quality upwards for Thailand’s real estate industry.”
The annual black-tie gala celebration of the 18th PropertyGuru Thailand Property Awards will take place at the Crystal Hall of The Athenee Hotel, a Luxury Collection Hotel, Bangkok on Friday, 1 September 2023.
Key dates for the 2023 edition:
- 16 June 2023 – Entries Close
- 3 July – 4 August 2023 – Site Inspections
- 9 August 2023 – Final Judging
- 1 September 2023 – Gala Dinner and Awards Ceremony in Bangkok, Thailand
- 8 December 2023 – Regional Grand Final Gala Presentation in Bangkok, Thailand
Nominations and entries are being accepted online until 16 June 2023: asiapropertyawards.com/nominations
Eligible entries are rigorously selected by the independent panel of judges, comprising experts in diverse fields such as real estate consultancy, architecture and interior design, and sustainable development.
Supervised by HLB, the global network of independent advisory and accounting firms, the Awards programme makes full use of a professionally run and fully transparent judging system, with an established reputation for fairness and transparency.
SC Asset won Best Developer at the 17th edition of the PropertyGuru Thailand Property Awards in 2022. SC Asset garnered a total of five wins, including awards for its projects Reference Sathorn – Wongwianyai, The Gentry Kasetnawamin, and Venue ID Motorway Rama 9.
Thailand was well represented at the 17th PropertyGuru Asia Property Awards Grand Final. Companies from around the kingdom gained seven regional wins, including the Best Landmark Mixed Use Development (Asia) award for One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) and the Best Condo Development (Asia) title for The Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited.
Main country winners of the PropertyGuru Thailand Property Awards this year qualify to compete for regional honours at the 18th PropertyGuru Asia Property Awards Grand Final 2023 on 8 December in Bangkok, Thailand.
Established in 2005, the PropertyGuru Asia Property Awards continue to reward high-calibre work within the industry, encompassing property development, construction, architecture, interior design, and sustainable building practices. The series has expanded over the years to cover the region’s dynamic property markets, including Australia, the Chinese markets, Greater Niseko in Japan, and India.
Organised by PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, the 18th PropertyGuru Thailand Property Awards are supported by platinum sponsor Mitsubishi Elevator (Thailand); gold sponsor JLL; official portal partner DDproperty.com; official magazine Property Report by PropertyGuru; official publicity partner Infinity Communications; media partner Think of Living; and official supervisor HLB.
For more information, email [email protected] or visit the official website: AsiaPropertyAwards.com.
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