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  Top Three Mistakes When Booking A Vacation Apartment

Written on April 23, 2016   By   in Apartment

Vacation Apartment 2Paris vacation rentals can be tricky to navigate, but the payoff is huge. Whether you are on a budget traveler who cannot afford the double-whammy cost of hotels and restaurants, or a luxury traveler who wants seclusion and over-the-top grandeur, you’ll get more space and privacy for your money by booking a rental property.

Convenience is probably the biggest advantage of a Paris vacation rental, you can come and go as you please and do what you like, when you like. An apartment rental is one of the most comfortable lodging options that can be availed for enjoying your vacation.

Besides more space and privacy, vacation rentals offer you a wide range of amenities without attacking your wallet. It’s you and your family enjoying a Paris pied-a-terre, your favorite snack from the refrigerator when you want it. You can impress family and friends with your culinary talent when restaurants and dining out becomes mundane, not to mention less nutritious and way more costly!

Fatal Mistake #1 Reserving last minute
Paris is the #1 visited destination in the world. It is safe to assume that premium vacation apartments are booked months and sometimes even a year in advance during peak season. The saying, “The early bird gets the worm” is especially applicable here.

The longer you postpone your vacation rental booking, the tighter the selection and higher the risk of losing prime vacation rental apartments since there are a limited number of top notch vacation apartments in select Paris neighborhoods.

The highly coveted 2 bed/2 bath or 3 bedroom/ 2 bath in St.Germain des Pres or Le Marais are booked way in advance especially during peak season June, Easter, September, October, Christmas and New Ys week. It not unusual to book, a year or six months in advance to secure these favorable dates. Actually it is strongly recommended to book as far in ahead as possible.

Those who begin their quest two to three months prior to their arrival are considered last minute bookings which are traditionally difficult and it is extraordinarily time consuming to find a suitable vacation apartment. Do not depend on cancellations and postponements which are rare since owners do not look kindly at refunding deposits or rental monies applied. The only way to insure the vacation rental apartment of your dreams is to book far advance.

Fatal Mistake #2 Know your deal breakers
One of the best ways to ensure that you choose the Paris vacation rental that is best for you is by examining and vocalizing your vacation apartment wants and needs. A clear cut idea about the type of vacation apartment, amenities, and any special requirement is crucial to securing the correct vacation apartment for your lifestyle.

You will want to closely examine your vacation style, namely who you are traveling with or what the purpose of your vacation is. Who you are traveling with will most likely play a huge role in choosing a Paris vacation rental. The size of your traveling party will not only determine how big of a rental you need, it may also have an impact on the type of rental apartment you choose.

For instance, families on vacations together may be better suited in a townhouse or a private house, instead of a vacation apartment. What you want to get out of your vacation is another one of the many factors that you will want to take into consideration.

For instance, if you are booking a romantic getaway or a honeymoon, you may want to choose a vacation apartment with a romantic ambiance. Appearances have been known to create romance. You can easily tell if a Paris vacation rental is elegant and luxurious in nature by closely examining pictures.

What you will need to do, while staying in a vacation rental, is also important to consider. For instance, if you are taking an extended vacation, you may need to do laundry or you may wish to eat in your Paris vacation apartment, to reduce expenses. Since you are on vacation and should enjoy yourself, you will want to take the simplest approach possible.

For example, if you need to do laundry, make sure that your vacation rental comes equipped with a washer and dryer. To reduce the amount of time spent cleaning up, consider vacation rentals featuring a dishwasher.

While it is important that you focus on your vacation rental needs, it is also key that you spotlight items on your wish list. For instance, do you want to have a Paris vacation rental that features a swimming pool in the apartment (yes, they do exist), a sauna, cable television, or internet access?

If so, it is important that you request these desires and refrain from securing your reservation until you have weighed your deal breakers.

It is also important that you examine your wants in terms of location. Would you prefer to roll out of bed and be sandwiched by numerous bistros and cafes or would you prefer a quiet residential street,

In keeping with location, it is also important to examine what you want to do, while on your Paris vacation. This can help you choose the Paris vacation rental that is most convenient. For instance, if you are planning on walking everywhere than you want to be in an arrondissement that is close to all the attractions that interest you.

On the other hand, if you know that you will be utilizing the metro, map out the metro stops of the places that you want a visit and reserve an apartment that has a metro line with easy access to those locations.

If you are sensitive to noise, ask about the surrounding buildings. Is the vacation apartment next door or on top of bustling bar or restaurant? Is there a lot of street traffic on your block? This is the ideal

Unfortunately vacation apartment features that you deem essential might be irrelevant to the apartment, do not assume anything. Paris has a different standard of luxury, a different attitude towards life and most importantly a totally different culture.

Parisians do not even think about air conditioning. Most Americans cannot live without air conditioning.

Do you have allergies? If so, think twice about booking an apartment centuries old. Are you willing and able to trek up stairs or is an elevator essential? Are you claustrophobic than maybe a typical Parisian elevator is not for you.

The traditional elevators take a bit of getting use it is important to know this beforehand. Do not expect your booking agent or apartment owner to share these minute apartment details. It is your obligation to be an educated consumer and make sure that the vacation rental will suit your lifestyle.

Should the bedrooms be located on opposite sides of the apartment or next to each other? Do you need airport transfers? Is a stocked refrigerator essential? How often do you want maid service?

When you rent a vacation apartment, you are on your own. Is your French strong enough to secure restaurant reservations and book day trips? Do you want to spend a couple of hours figuring out where the nearest market and metro is or would you like a bit of hand holding?

A professional concierge willing to offer his Parisian expertise may be ideal for you. It does not hurt to inquire with your agency or apartment owners. Not all agencies offer these additional services but it does not hurt to ask prior to booking your apartment. You maybe able to find an all in one agency that will cater to all your needs.

Fatal Mistake #3 Email is good but speaking to a human is better
First-time visitors have little idea of the scale of the Paris area and the quest for a vacation apartment can be more than a little daunting. It is made even more confusing by the vast choice of vacation rentals available and the lack of clear details on the location and apartment.

We know that this has resulted in some guests turning this into a job instead of an opportunity to familiarize themselves with the city and pick the brains of the agencies and owners. Look for agents and owners that will gladly answer all of your questions. Let them know that you have visited Paris since 1982 and pick their brains or what to expect in the different neighborhoods.

The pictures on the web sites usually present the vacation apartment very well but how recent are the photos? Many of the vacation rentals will have heavy wear since they are professional vacation apartments welcoming guests on a non-stop basis. While speaking with the owner or agency does not guarantee quality, yet it does give you the opportunity to ask if the photos on the site truly represent the condition of the vacation rental today.

I know there are many guests who never speak to anyone and solely rely on email correspondence when booking their vacation rental. Successful vacation apartment hunting has one primary tool, the telephone. When you are investing in an experience such as renting a vacation apartment, it is recommended to begin your dialogue with an email but make an attempt to get to know the apartment owner or agency that you are dealing with.

You can email agents and apartment owners, but you can not easily determine whether you like the person you aredealing with via typed messages. Gauge the responses of the agent or apartment owner, and trust your gut. If you feel like you are being pressured, you are. And if you don’t like the person you’re talking to, chances are you’re not going to like the vacation apartments he/she represent. Trust your intuition.

If you don’t get a good feeling, chances are the entire process will be thorny. If the customer service via phone and email is lacking, do you really think it is going to get exceedingly better when you arrive in Paris? Is it better to have a solid mid-range vacation apartment with an attentive and thorough agent or apartment owner or a fabulous vacation apartment with an apartment owner or agent with an attitude? Only you can make that call, but know beforehand, how you are willing to play.

It’s strongly suggested to build a friendly rapport with your agency or apartment owner. You may need last minute assistance or a special favor and it’s always easier to deal with someone that you like and likes you.

 

  Guide To Finding The Right Apartment

Written on April 15, 2016   By   in Apartment

Apartment 2Finding the right apartment requires, time, effort and money. It isn’t very hard to find a good apartment if certain basic steps are followed. The time required to find the correct apartment could be anywhere between 1 to 3 months. The following information can be used as an apartment guide.

Sources
There are many sources available today to help you with your apartment search, such as brokers, newspapers, internet, friends and colleagues. Most of the advertisements detail the area in square foot and number of rooms, furnishings and amenities. The internet is a good way to do an apartment search. There are hundreds of websites listing apartments for rent such as http:// www.rent.net which is a popular apartment finder.

Apartment Requirements
Note down your requirements in a notebook:
* Parking space
* Keeping a pet
* Specific room requirements like office, studio, a work room, a storage room etc
* Closet space
* Number of bedrooms and bathrooms
* Size of apartment in square feet
* Kitchen requirements like microwave, dishwasher, broiler etc.
* Are the rooms big enough for your furniture, beds, sofas, mattresses, fitness equipment, piano etc?
* Amenities like elevators, intercoms, cable TV, gym, swimming pool, air conditioner, washer and dryer etc
* Connectivity and commute time to your work place, and availability of public transportation.
* Safety and convenience of neighborhood.
* Decent view and large windows (especially important for those doing indoor gardening)
* Consistent water supply
* Good security

Inspecting the Apartment
Inspect the apartment thoroughly. It is prudent to check out the actual apartment you are going to rent rather than inspecting a sample apartment.

Affordability
The quality of the apartment, neighborhood and amenities have a direct bearing on the affordability of the apartment rental. Most apartment owners also demand a security deposit and a minimum one-year lease.

Roommate
Having a roommate will decrease the cost of the apartment rental considerably. Roommate listings are available in newspapers and on the internet.

Brokers
If you do not have time to conduct an apartment search, then hiring a broker will reduce a lot of burden. However it is better not to pay in advance and pay only after signing a lease. It is also a good idea to research the approximate cost of rent through newspapers and internet in order to avoid being overcharged.

Documents
Good apartments tend to be snatched away quickly, so keeping documents ready may help in signing apartment rental contract earlier. Documents like check book, bank statements, tax returns, employment letter, reference letters, identification such as driver’s license should be kept ready.

Finding a good apartment needs effort and patience. Doing the groundwork beforehand is a must to finding a good apartment at a reasonable cost. Read the apartment rental terms and conditions thoroughly before signing the apartment rental agreement.

 

  Finding An Apartment With 6 Easy Ways

Written on March 15, 2016   By   in Apartment

Apartment 3To make your search for an apartment less of a hassle, know what you really want and need from an apartment, use online apartment locators, use the services of an apartment hunter or an agent, focus on your priorities, prepare your questions before checking out the apartment, check out apartments with your roommate to save time, and take pictures of the apartment.

Although it can be exciting, finding a new apartment can be one of the most frustrating and time consuming activities you experience. Here are some effective tips that will help lessen the stress of finding the perfect apartment.

Know what you really want and need from an apartment

One thing you will want to think about before you begin looking for an apartment is that you have made sure you know exactly what you will want in your new rental. Consider your apartment measurements, your spending, and other issues before you look at apartments to save time.

Make certain to clearly list your apartment specs. First of all, you need to decide on the location of your apartment. When you are searching online, this is the core element which needs to be identified. For instance, when you key in “Apartment Tangier,” you will find different choices of apartments in Tangier. Some factors in considering an apartment are the nearness to the key places in your life such as your job and public transit plus the desirability of the neighborhood around the apartment. When looking for an apartment, think about your preferred apartment size, number of bedrooms, number of bathrooms, garage space, closet space, kitchen space, and other apartment specifications to hasten your search.

Be clear about how much you can spend. Set a price range of how much you are willing to spend every month for your rental Make sure to always see your financial limitations, even if it leads to giving up some of your apartment wants.

Make note of any worries. And the last thing is you will want to decide what your rental needs to have in it and also what are the things you want it to have. There might be services amenities and services that you require, like the laundry services and a fitness room or gym. Finding a place where pets are allowed might also be important.

Utilize online apartment locators

Once you understand exactly what you want, you are ready to look at apartments. Looking online using sites that help you find apartments cuts down on the expense of the search. If you are looking for an apartment, these locators will be able to help you by specifying your search criteria, including location, size, number of bedrooms and other details. With online locators, you need not go through and look into a thousand other apartments for rent advertised online.

An apartment hunter’s or an agent’s service should be utilized

An apartment hunter is similar to an agent hired by the apartment owner to show their apartments to you. Searching with an apartment hunter will help you save money since you will not be the one paying them. Giving them the details of your wants and needs right away will allow them to assist in finding the perfect rental for you at the same time. On the other hand, an independent agent can help you conduct an objective apartment search.

Set your mind on the priorities in your life

To reduce the problems of locating an apartment, stay focused on your priorities. Use your time efficiently by not viewing apartments that are out of your budget and do not satisfy your requirements. Go straight to those units which meet your specifications and select only from among these apartments.

Write down your questions before you visit the apartment

When you check out an apartment, it is a must that you ask questions to help you choose the right one for you. Before going to the place, make sure you have prepared all your questions and concerns to get things running smoothly at the apartment. Make your visit less tense by jotting down your questions regarding fees, conditions of the unit or of the building, and other important issues that matter to both of you.

To save time, one should look at possible apartments with one’s roommate

As much as possible check out the apartments, when moving in, with one or two roommates. This will help subdue the hassle of relaying the information and opinions to each other and waiting for the others to find out the place on their own. It will help you save a lot of time and hasten your decision in choosing the right apartment.

Photograph the apartment

Finally, it helps a lot to take pictures of the apartments you are visiting so that when decision time comes, it is easier for you to remember what you have seen. Rechecking each unit to ensure you selected the correct place is unnecessary. This will aid you if you plan on having people live with you and they are unavailable to check it out and are relying on your good judgment in selecting a place to reside.

Finding your ideal apartment can be fraught with complications, yet by using this set of helpful hints, you can minimize those. Not only will you be able to save time, money, and energy, but your sanity too when looking for a place to rent.

 

Dlf Bella Greens Luxury Apartment An Ultra Modern Project By Dlf Ltd

Written on November 30, 2016   By   in Apartment

DLF Bella Greens is the latest residential project by DLF Bangalore and representing the royal lifestyle for modern home-seekers. The project is an exclusive part of DLF Mytown and assures you the best of lifestyle with its amazing facilities. Bangalore the city of advanced technology and software firms is best known as the Silicon Valley of India. Having numerous firms like Wipro, Mahindra Tech System, Patni Computers Systems, HCL, Helix and various other corporate giants are situated in the city. Thus, the city comes across as the major working destination of software professionals. The real estate of the town is also getting the huge attention of property buyers as it is offering beneficial investment options. Bella Greens Villas In Bangalore emerged as the destination of riches with its ultimate exclusivity, tranquil privacy and royal features.

DLF Bangalore the most reliable firm of India is spreading its wings in all over the country and coming up with such amazing residencies which are quite alluring. The firm has previously launched various exotic developments such as DLF Maiden Heights & DLF Woodland Heights. DLF Luxury Homes are placed just by the Bannerghatta Road and enjoys the better connectivity with every nearby place. The Electronic City which is the major software hub of the town is just a short drive away from this residency. The township is also in the close vicinity of hospitals like Apollo and Fortis. Reputed educational hub namely IIM, Bangalore is placed few kilometers away from this residency. You will be having the access of cities such as Hosur, Anekal and Bannerghatta as it is placed near Bannerghatta Road. Thus, the project is in the vicinity of every nearby location.

DLF Bella Greens Bangalore assures a good living with its well-interior villas which have been crafted individually. The venture has 3 and 4 BHK Villas which showcases the eternal elegance of royal living. Surrounded with 14% of greener shrubs and woods these villas encourage the greener and cleaner living for its occupants. Villas have lavish family pool and kitchen garden in its backyard which recreates the pleasurable moments for you and your family. Luxury Apartment In Bangalore living spaces are enabled with features like proper water & electricity supply and round the clock power back-up. These villas assure you a god night sleep as 24*7 manned security is also a part of this township. A lavishly designed clubhouse with various recreations such as swimming pool, fitness area, sports club and much more other recreations gives you a proper balance in your life and work. More Information Please Call Us +91-9582251854 & Tollfree: 1800 103 0098

DLF Bella Greens Villas Luxury Apartment In Bangalore

Amrapali Hanging Gardens Offers Studio Apartments At Noida

Written on November 16, 2016   By   in Apartment

After the grand success of Amrapali Spring Meadows, Amrapali Group is presenting, a much awaited project “Amrapali Hanging Gardens”. Amrapali Hanging Garden offers 1/2/3 BHK studio apartments in Noida. Amrapali Hanging Gardens is a home of new era. In Amrapali Hanging Gardens Noida, you will found the world class amenities at very affordable price. In Hanging Garden Noida reflects the aesthetic amalgamation of technology and nature in creating dream homes.

Location Advantage:
5 min drive from Mahamaya Flyover.
15 min from Sec- 37 metro station city centre and Kalindikunj Flyover
10 min drive from DND Flyover & Sec-18 Atta Mkt.
25 min drive from Akshardham temple/CWG village & upcoming proposed
International Airport Gr. Noida.

Amrapali Hanging Gardens Noida project is endowed with all modern facilities which are required for a standard living. The residential complex is embellished with round the clock power back up and water supply and a club with swimming pool, gym, play school, community hall. Three tier security, fire fighting facilities and lifts are there in the complex. The project “Amrapali Hanging Garden Noida” emerged as lavished living apartments which come with outstanding architecture, modular interiors, composed and secure residential surrounding in the heart of Noida city, sector 107. Interiors of these premium apartments are designed keeping in mind optimum daylight provision, utmost security and safety provisions and best living infrastructure. Indulge and delight yourself in the natural green landscaped with refreshing fragrance of exotic flowers. The project is beautifully characterized by the greenery which enhances the beauty of smartly designed Amrapali Hanging Garden Noida.

About Developer:
In a short span of time, Amrapali has developed luxurious residential complexes, townships, family entertainment centres, offices and commercial complexes. With its unmatched expertise in residential development, Amrapali has developed six ultra-modern residential colonies in and around Delhi. Design for comfort living is therefore the group’s mantra and for this, it employs the nation’s best architect ‘Hafeez Contractor’. What makes the Amrapali group stand out is its steadfast dedication to quality and efficient service. Amrapali is run by a group of highly competent engineers and over 50 professional and 150 supervisory-grade employees. Amrapali understands the importance of quality and ensures the best of technology, planning, design and construction for all of its projects. Amrapali Group has completed projects spread over more than 100 acres. What makes the Amrapali group stand out is its steadfast dedication to quality and efficient service. Amrapali understands the importance of quality and ensures the best of technology, planning, design and construction for all of its projects.

Estepona Apartment Rentals In Spain

Written on November 9, 2016   By   in Apartment

Estepona Apartment for rentals on Costa del Sol with Aircon , Shared Pool

Luxury 5* Development with Beachfront Location on the New Golden Mile

Sleeps up to : 6 (2 bedrooms)

Guadlamansa Playa Urb / Development

Nearest Beach : Heaven Beach Bar – 0.5 km

Estepona Apartment Description :

Luxury 5* Development is located in Guadlamansa Playa with a beachfront location. Private pool with sun loungers. Guadlamansa is located on the new Golden Mile. The apartment is furnished to a very high standard and both bedrooms are en suite. The main en suite has a jacuzzi bath and a shower. The apartment is fully air conditioned throughout.

Estepona Area :
The last large town on the Costa del Sol before the Rock of Gibraltar

Located in the South of Spain ( Andalucia Region ) within the province of Malaga on the Costa del Sol

Airport : Malaga – 40 mins drive

Beach : Heaven Beach Bar – 0.5 km

Alt Airport : Gibraltar

Facilities for this Estepona Apartment Rental :

General Airconditioning, Bed Linen Provided, Towels Provided, Jacuzzi (Indoor),

Kitchen Hob, Oven, Microwave, Toaster, Kettle, Fridge, Freezer, Dishwasher, Washing Machine,

Entertainment TV, DVD Player, CD,

Living Room

Seating for 6.

Dining Area

Seating for 6. Child’s highchair.

Estepona Apartment – Accommodation :

2 Bedrooms – Twin Bedrooms (1), Double Bedrooms (1),

2 Bathrooms – 2 Ensuite Bathrooms,

Estepona Apartment – Outside Facilities :

This Estepona rental apartment benefits from a Shared Pool, Parking, Garden Chairs, Sun Loungers

Further Details (for this Apartment in Estepona on the Costa del Sol in Spain)

Estepona is a nice little town which provide a good example of a typical Andalucian white village with a peaceful atmosphere. Guadalmansa Playa offers a wide range of activities: BBQ’s on beach, Spanish dancing in the evening… The Heaven Beach Bar & Club offers great day and night entertainment and is perfect for couples, families or groups. Guadlamansa is located on the new Golden Mile just 5 minutes drive from the World famous Puerto Banus resort and 5 minutes from the lovely old town of San Pedro, where you will find traditional Spanish Tapas Restaurants, a wide range of restaurants and plenty of bars. It also is only 10 minutes from the town of Estepona where you will also find a great choice of restaurants and bars. Guadalmansa Playa is only 10 minutes from the fabulous Marbella which is the playground of the rich and famous, where you will be in shopping heaven! 60 minutes away is the excellent water park of Torromelinos which is well worth a visit.

The Costa del Sol: Spain is a wonderful destination for all its very traditionnal culture and its beautiful beaches. The perfect scenery of the Costa del Sol has made it a favourite destination amongst holiday makers. Its clean beaches and the all year round sunshine are features sought for by many. The Costa del Sol is also a great destination for shopping and its nightlife.

How to get there: Budget airlines including EasyJet, Monarch Airlines and Bmi Baby as well as British Airways fly to Malaga from most European Airports. New Golden Mile on the Costa Del Sol is 40 minutes from Malaga Airport, 10 minutes from the fabulous Marbella, 10 minutes from the Puerto Banus, 5 minutes from the Old town of San Pedro, 10 minutes from the Port and Town of Estepona. Located on the beach with its own beach club, Heaven Beach Bar. The property is also 10 minutes from the El Centro Ingles, which is an excellent shopping centre in Marbella. 60 minutes from Mijas Water Park. Shops, restaurants, bars are all found close by.

Rent Estepona Apartment Suitability : All of the Family, Children Welcome, Wheelchair Accessable, Suitable for the Elderly and Infirm, Long Term Rentals Welcome, Car Recommended

Unfortunately pets are not allowed, no smoking is allowed inside the apartment.

Rent apartments in Estepona , Guadlamansa Playadirect from the owners to benefit from and other luxury facilities

Local Activities for all Estepona Apartment Rentals : Cycling, Diving, Fishing, Golf, Sailing, Surfing, Swimming, Walking, Water Skiing, WaterPark, Wind-Surfing

Consider renting Estepona apartments on the Costa del Sol as a great base to explore this fantastic Coastline . Estepona apartment rentals of many types and sizes at this resort are always available.

Family Activities That Could Entice You to Look for Apartments for Rent in Colorado Springs Co

Written on November 8, 2016   By   in Apartment

If you want to find a great city to relocate your family, then you should start looking for apartments for rent in Colorado Springs Co. This city is a modern one, but still keeps that small town feel, and outdoor activities are numerous, so you can raise your children in a healthy lifestyle.

Air Force Academy- Exit 156B on Interstate 25, Colorado Springs

The informative visitor’s center is a great place to learn about the history of the Air Force and Air Force Academy. Open days and demonstrations are a good way for your children to enjoy a day out with their parents and learn something new at the same time.

Garden of the Gods- 1805 N. 30 St, Colorado Springs

These towering sandstone rock formations are great for your family’s outdoor activities. You also benefit from parking areas, so easy access is included. This way you will enjoy a great day in the wild hiking and having picnics.

Ghost Town Museum- 400 S. 21st St., Colorado Springs

Ghost Town Museum offers a great opportunity for your children to learn the history of the first Europeans that have settled in North America. They can get the feel of an old town and still have fun with old arcade machines or panning for gold. You have to keep a close eye on your children, since not every exhibit is available for touching.

Magic Town- 2418 W. Colorado Ave., Colorado Springs

This great display is located in the Michael Garman Art Studio and Shop. It will stimulate your children’s imagination and curiosity with scenery changes thanks to mirrors and holograms.

Manitou Cliff Dwellings- Hwy 24, Manitou

The Manitou Cliff Dwellings are 700 years old and give a great opportunity for you and your family to take a walk in history. Your children will be delighted that they are able to walk inside the ruins and touch them.

Money Museum- 818 N. Cascade Ave., Colorado Springs

The Money Museum offers a great opportunity to learn about money. The large exhibit of rare currencies as well as the guided tours will teach your kids about money history and the importance of antiques, as well as a few tips on trading.

North Pole- 5050 Pikes Peak Hwy., Cascade

This Christmas-themed amusement park is great for every child, no matter the age, and for grown-ups as well. There are different rides suited for young children and older ones also. You can take your kids to visit Santa and bring the true spirit of Christmas to your family.

For more information about the apartments for rent in Colorado Springs CO, please visit our website.

Demand Increases For Bangkok Apartments

Written on October 30, 2016   By   in Apartment

CB Richard Ellis reported that according to the latest figures from the Alien occupational Control Division, Department of Employment there were 65,337 expatriates based in Bangkok with work permits as at August 2006. This represents a 12.9% increase on the total in August 2005.

The growth in expatriates has increased demand for residential rental accommodation in Bangkok both for apartments and condominiums.

The work permit figures exclude diplomatic and United Nations staff and the 52,045 expatriates with work permits for locations outside of Bangkok. Some expatriates whose place of work is outside of Bangkok for example on an industrial estate will live in Bangkok and commute to their place of work.

Japanese nationals account for 22% of work permits in Bangkok followed by Indians (12%) Chinese (9%), and British (8%).

CB Richard Ellis forecasts that there will be limited new apartment supply in the Central Business Districts with only about 870 units under construction.

There are13,347 condominium units under construction and CB Richard Ellis estimates that 40-50% of these new condominium units could be available for rent.

Much of the existing supply of apartments and condominiums is now more than ten years old and CB Richard Ellis classifies many of these as being grade B in terms of quality.
Rents for grade A or luxury condominiums and apartments have been rising at a faster rate than grade B developments.

We see the gap between grade A and grade B rentals increasing, said Mr. Theerathorn Prapunpong, Associate Director and head of Residential Leasing Services at CB Richard Ellis.

CB Richard Ellis is seeing strong demand for well designed new projects especially mid size three bedroom units of between 150-220 square metres which are achieving rentals of 70,000 – 85,000 baht per month.

Queens Park View Residence a 36 unit new development recently completed on Sukhumvit Soi 24 is already 83% occupied. Much of the demand for this development has come from Japanese tenants who have been paying average rents of between 60,000 – 80,000 baht per month for 2 and 3 bedroom units of 91-150 square metres.

CB Richard Ellis expects that demand from tenants will continue to be strong for well located, well designed apartment and condominium developments in Bangkok’s prime locations.

Competition grows in Bangkok’s Serviced Apartment Sector

The total supply of serviced apartment units in Bangkok grew by 11% on an annual basis and occupancy rates dropped by 8%, according to CB Richard Ellis.

Owners were able to increase rental rates for grade A serviced apartments but at a slower rate.

Future supply will continue to increase which could put downward pressure on both occupancy and achieved room rates.

The total supply of serviced apartments increased to 8,744 units a further 3,500 units are under construction and more projects are at the planning stage.

Most of the new supply will be grade A in terms of quality.

Occupancy increased slightly quarter on quarter but fell year on year from 88% to 81%.

Average rents increased by 2-3% for grade A developments on a year on year basis the growth rate in rentals has slowed due to the increase in supply.

CB Richard Ellis believes that based on the forecast increase in supply competition will increase. Much of the new supply is grade A in terms of quality and will be managed by international operators and this will put pressure on older developments.

The Sathorn area appears to be the most competitive location at the present time rental rates have fallen by about 2.7% year on year and occupancy by about 18% year on year.