Panasonic Enters Thailand Property Market

October 21, 2016 Thailand

Aside from offering a wide range of innovative products and technology, Panasonic Corporation is known for contributing sturdy housing and urban developments all over Japan. Panasonic manages to keep a strong presence in the property development industry over the past 50 years by providing consumers with quality homes and services that focuses on the long-term benefits of its consumers.

Panasonic made property news a few years back by publicizing its intent to expand its property business, PanaHome, in countries that belong to the ASEAN region. It started by setting up a base in Singapore, and then offered its services in Malaysia, Taiwan and Indonesia.

Recently, Panasonic announced its entry to the Thailand property market, fronting property news. Panasonic is confident of its expansion in the Thailand property market as Thailand property buyers are more likely to choose condominium units as their property investment.

“Thailand is among the top markets in the ASEAN region. Panasonic is committed to delivering innovation and world-class services to consumers in Thailand. The real estate sector is a key market. Currently, there are multiple factors contributing to market growth for real estate in Thailand in the second half of this year, such as consumers being likely to choose a condominium as their residential choice, as well as the government’s new measures to boost purchasing power,” Panasonic Newsroom writes.

Panasonic is currently shortlisting Thailand property developers to form a 49:51 joint-venture partnership with and is more likely to decide by 2017. Panasonic will hold 49% stake of the joint-venture company as Thailand’s foreign ownership law requires foreign entities to own 49% or less.

The Japanese company is expecting to start its first housing project by 2018 and units will start at 4 million baht, targeting middle to high-income earners.

Aside from housing projects, Panasonic aims to develop shopping centres and hospitals projects in the future.

Want to be updated not only on the Thailand property market but on other overseas property markets as well? Yazhou Property will provide you with the latest Asia property listings, property news and overseas buying guides.

Sources:
Bangkok Post
Panasonic Newsroom

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