PHUKET, SAMUI, AND THE EASTERN SEABOARD AMONG THE RESORT DESTINATIONS INCLUDED IN THE COUNTRY’S LONGEST-RUNNING REAL ESTATE AWARDS PROGRAMME
PHUKET, Thailand — The long-running PropertyGuru Thailand Property Awards programme returns for its 18th edition as travellers and international property seekers return to the kingdom’s world-renowned tourist attractions and resort destinations.
The 18th PropertyGuru Thailand Property Awards 2023, presented by Mitsubishi Elevator (Thailand) and supported by JLL, are now calling for submissions from the kingdom’s recovering resort markets and other dynamic locations in addition to Greater Bangkok. Awardees will receive the opportunity to stand beside Thailand’s finest property developers, design practices, and developments—together raising the Gold Standard in real estate.
Award categories open to competitors this year include recognitions for developments in locations as diverse as Chiang Mai, the Eastern Seaboard, Hua Hin, Khao Yai, Koh Phangan, Krabi, the Northeast, Phang-Nga, Phuket, and Samui.
Submissions are accepted online via: asiapropertyawards.com/nominations
The economic rebound of Thailand ushers in the 2023 edition of the Awards in Thailand. The recovery of the tourism industry, driven in part by the reopening of China, is one of several positive indicators that the real estate market will recover from its slump in 2023, according to DDproperty.com, the official portal partner of the Awards.
Phuket, among other bright spots throughout the country, has become a haven for international home buyers seeking refuge from conflict in Europe, according to research on Property Report by PropertyGuru, the official magazine of the Awards. Home buyers seeking working holidays have also flocked to Koh Pha Ngan, where they are fuelling a building boom for luxury properties.
The Price Index for residential properties in Phuket rose 8% QoQ in Q4 2022, buoyed by rising demand for townhouses (+4% QoQ and +25% YoY), according to DDproperty.com, the official portal partner of the Awards. A majority (32%) of residential properties in Phuket are priced greater than THB15 million.
Apart from the return of tourism, transport infrastructure developments are expected to continue galvanising the property market, according to the latest DDproperty Thailand Property Market Report. 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.
Overall housing Demand Index in Bangkok in the fourth quarter of 2022 increased 47% from the pre-pandemic period (Q4 2019). 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.
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.”
Jules Kay, general manager 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.”
Suphin Mechuchep, chairperson of the PropertyGuru Thailand Property Awards, said: “We are happy to open the 18th edition of the PropertyGuru Thailand Property Awards to entries from all over the kingdom in 2023. In nearly two decades, the Awards in Thailand have greatly diversified, expanding its roster of categories to recognise the finest real estate not only in Greater Bangkok but also in Phuket, Samui, Phang-Nga, Krabi, Hua Hin, the Eastern Seaboard, and other resort destinations throughout the nation. We are excited to continue our tradition of spotlighting real estate excellence in such attractive locations as 2023 shapes up to be a bullish year for hotel and resort investments and the Thai tourism sector in general.”
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.
From coast to countryside
Outstanding real estate companies from coast to countryside were honoured at the 17th edition of the PropertyGuru Thailand Property Awards in 2022. Tropical Life Real Estate was named Best Developer (Samui) while Pearl Island Property Co., Ltd. won the Best Developer (Phuket) title. The Riviera Group won the Best Developer (Eastern Seaboard) title.
Thailand was well represented at the 17th PropertyGuru Asia Property Awards Grand Final. Companies from around the kingdom gained seven regional wins, including the award of Best Housing/Landed Landscape Architectural Design (Asia) for Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd., a development from Khon Kaen in Thailand’s Northeast region.
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 initially covered Southeast Asia and has expanded over the years to include the region’s dynamic property markets, including Australia, China, 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 partners Think of Living and REm; and official supervisor HLB.
For more information, email [email protected] or visit the official website: AsiaPropertyAwards.com.
NOTE: Use of the PropertyGuru Asia Property Awards logo is limited to the publication of this article only.
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ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:
PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair and transparent.
In 2023, the Awards series is open to more than a dozen key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2023.
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