Demand Increases for Bangkok Apartments

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 Bangkoks prime locations.

Competition grows in Bangkoks 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.

CB Richard Ellis Thailand

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What Is The Body Mass Index And Why Do We Care?

The Body Mass Index or BMI is a standard measure of a persons height to weight ratio. It was invented in the 19th century in Europe by a social scientist. However it did not become popular in North America until the 1980s, when health problems related to overweight conditions started to occur. The appeal of the BMI is that it provides an easy way to assess whether we are too thin or too fat. In theory it works for males and females, and short people as well as tall people.

How it works

The body mass index value is obtained by dividing a persons height by the square of their weight. By itself the BMI is just a number and does not really tell us anything. This is like the temperature scale. For example, 90 degrees Fahrenheit doesnt mean much to people in Europe who use the Centigrade scale. However once you realize that 20F is cold, and 90F is hot then it starts to make more sense.

Similarly the BMI values need to be interpreted to have meaning.

Less than 18.5 - Underweight
18.5 to 25 - normal
25 to 30 overweight
30 to 40 obese
Over 40 very obese

In this way the body mass index can give us standard way to assess how thin or how fat we are.

Is it accurate?

A lot of people, including doctors, use the index value for medical assessment, which was not the original purpose of the BMI. In our temperature example, what feels hot for one person, another might consider only warm. The same problem can arise with the BMI. This is especially true if you have a borderline value like 26. You may not in fact be overweight at all, depending on a number of other factors.

Other weight influences

The BMI does not take into account things like body frame type or muscularity. Some people are born with a larger body frame, and have a greater bone and muscle mass. Likewise a body builder would have more muscle and a higher BMI value than an average person. Other things that can influence your BMI value are gender and age.

Your ideal body weight?

The body mass index values are frequently used to construct an ideal body weight chart. If you are using one of these charts to compare your own weight to the ideal, try to find a chart that takes some of the other factors (especially body frame size and sex) into account. Otherwise the result may not be appropriate for you.

Conclusion

The BMI is useful as an approximate measure of a persons thinness or fatness, but should not be taken as an absolute indicator of health. Since BMI is calculated using only a persons height and weight it ignores the other factors mentioned above. Some experts claim that the resulting error in BMI values is significant and it should not be used at all in this way. Consult your physician if you think you have a weight problem, and he or she will provide you with the best advice.

Michael Stapenhurst is a long-time runner and walker and is co-author of the book "Marathon Training Tips". He is a contributing author to the 'Get In Shape - Fitness For Women' website at http://www.getinshape.ipcor.com. Learn more about keeping fit and healthy diet on the web pages 'Ideal Body Weight' ( http://www.getinshape.ipcor.com/body-ideal-weight.htm ) and 'Best Diet For Life' ( http://www.getinshape.ipcor.com/best-diet-for-life.htm ).

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