Following the announcement of the Ministry of Finance has clarified the tax rate to be collected from condominiums which are rented out for residential purposes. The announcement may have given stocks in the property sector positive sentiment amid economy slow down which causes slow consumption as well as the Bank of Thailand’s LTV regulation in recent months.
In the morning session on December 26, 2019, LH closed flat at ฿9.75/share, but rose to ฿9.90/share during the session.
AP closed at ฿7.40/share, increased ฿0.40/share or 5.71%.
SPALI closed at ฿18.00/share, increased ฿0.70/share or 4.05%.
SIRI closed at ฿1.10/share, increased ฿0.03/share or 2.80%.
NUSA closed at ฿0.46/share, increased ฿0.02/share or 4.55%.
QH closed at ฿2.58/share, increased ฿0.02/share or 0.78%.
Jones Lang LaSalle (JLL) has reported that the investment in Asia Pacific real estate has reached US$125 billion in the first three quarters of 2019, up 10% year-on-year, and is set for another strong year in 2020.
According to the real estate consultancy, foreign investments into Asia Pacific are at a decade-high, making up 35% of total volumes, mostly driven by private equity funds and large-scale transactions.
“Real estate in Asia Pacific has gained favour in the last year as investors continue to seek high yields and stability amid a climate of geopolitical uncertainty and slowing economic growth. As an increasing amount of capital is being allocated to real estate, we’re seeing more clients making larger-scale investments to expand their portfolios,” explains Stuart Crow, CEO Capital Markets Asia Pacific, JLL.
“Over the next two years, we expect global real estate transaction volumes to stay elevated and Asia Pacific to outperform Europe and the Americas with an outsized portion of global investor interest.”