The Foreign Office has sold its British embassy in Bangkok for £420m, the biggest property sale in its history.
Prices of residential sites in Asia increased by 1.9% in the first half of 2016, down from 2.8% in the preceding six months, put office land increased from 1.9% to 2.2%.
Overall development land investment volumes in Asia matched the level registered in the corresponding period last year, according to the Prime Asia Development Land Index from international real estate firm Knight Frank.
As compared to the preceding six months, however, they were 40.4% lower and the index report explains that land markets tend to be more active in the second half of the year, which accounts for 60% of the transactions historically.
The sparkling seas and warm beaches of Phuket are a magnet for sun-seeking holiday-makers and, increasingly, for foreigners seeking a comfortable and cost-efficient retirement. More than 100,000 foreigners have settled on the island - though some now bitterly regret it.
British expat Ian Rance and Irishman Colin Vard are now living almost penniless with their children on the outskirts of Bangkok as they struggle against overwhelming odds to recover properties they bought on Phuket. Both men lost all their investments through frauds that neither of them imagined were possible.
The price of prime residential development land in Asia slowed to 1.1% in the first half of 2015, down from 3% in the previous six months, but prime office land increased to 3.6%, up from 2.5%.
The latest prime Asia development land index from international real estate firm Knight Frank also shows that Phnom Penh in Vietnam recorded the strongest increase in both prime residential and office land price.
Thai property developers are raising record funds in the domestic bond market to finance high-end residential projects in a stumbling economy that appears to have hurt all but the affluent.
Developers issued 54.2 billion baht ($1.55 billion) of bonds in the first half of this year - a record for a six-month period and equal to 74 percent of the debt sold by developers for the whole of 2014, according to the Thai Bond Market Association.
The value of new housing projects in the Thai capital rose by 64 percent in the first half of 2015 from a year earlier when business was hit by political unrest that led to an army coup in May last year, a leading property consultant said on Thursday.
But the pace is likely to slow in the second half, with the full-year 2015 growth expected at 30 percent due to fear of oversupply in some segments, Sopon Pornchokchai, president of the Agency for Real Estate Affairs told reporters.
A military coup in Thailand in May and the imposition of martial law, which continues, slowed property sales, but they have rebounded since the beginning of this year, according to Richard Lusted, the chief executive of the Phuket-based brokerage Siam Real Estate, which has this listing.
The price index for single-family detached homes in Thailand has grown every year since 2008 by 1 percent to 5.4 percent, according to housing data from the Bank of Thailand. The price indexes for condominiums, townhouses and land have grown even more quickly over that period, frequently in the range of 5 percent to 12 percent a year.
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