News roundup: Thailand’s property market Q1 2024 a market in transition, and other headlines

For PropertyGuru’s real estate news roundup, a report on Thailand’s property market in the first quarter of 2024 presented a fascinating snapshot of a market in transition. In other news, the rental premium on Australia’s built-to-rent housing will make it difficult for the sector to break into the affordable end of the market. And insiders are optimistic that Vietnam’s Land Law 2024 will help attract billions of dollars of remittances each year.

Thailand property market Q1 2024: A mixed bag with long-term potential

The Thailand property market in the first quarter of 2024 presented a fascinating snapshot of a market in transition. While there were positive signs of growth, particularly in the rental sector, there were indications of a more cautious approach from buyers. DDproperty Thailand provides an overview of the national and Bangkok market performance, highlighting key trends and offering insights for navigating the current landscape.

Australia’s build-to-rent price premium a tough nut to crack: Savills report

The rental premium on build-to-rent (BTR) housing will make it difficult for the sector to break into the affordable end of the market, particularly as some projects are struggling to get off the ground due to rising costs, a report from a major real estate agency has warned.

According to realcommercial.com.au, as many of the new complexes are up-market, they are commanding weekly rents of 18 to 26 percent above market rates, according to a new analysis by Savills of the Melbourne market.

However, the Savills report found that demand for alternative rental products exists. Four Melbourne-based projects that have been open for more than a year had occupancy over 90 percent at the end of the first quarter of 2024. Two other towers, opened for less than a year, reported a strong leasing trajectory at advertised prices.

Land Law 2024 to lure billions of dollars of remittances to Vietnam real estate market: Insiders

The Land Law 2024, which creates a smooth legal corridor for overseas Vietnamese (OV) to invest in housing in Vietnam, is expected to help Vietnam attract billions of dollars of remittances each year, contributing to promoting the growth of the real estate sector, according to insiders.

VietnamPlus reports that in the revised version, Vietnamese people residing abroad who are Vietnamese citizens, and those of Vietnamese origin residing abroad, are eligible to own land use rights at home.

According to the Vietnam Association of Realtors (VARS), the new legal corridor will provide more favourable conditions for OVs to own houses in Vietnam, thus driving remittances into the real property markets.

The Property Report editors wrote this article. For more information, email: [email protected].