Bangkok floods influence condominium development

 Risinee Sarikaputra, associate director of Research and Consultancy Department, said that Lumpini would be in high demand as it is in long distance from canals. She said that it is generally believed that big floods like this would re-occur in the future.
 This will drive up land prices in non-flooded areas,
 "Not only location, another concern is the design. We quite believe that the underground parking will be omitted from the building design since the construction cost is much more expensive and it will not be a major critical success factor to avoid floods," she said.
 Out of  32,549 condominium units launched in the first half of this year, 19 per cent is located in the inner city area. Another 23 per cent in the city fringe areas and the rest in peripheral areas. Srinakarin and Bang Na have recently been new locations, offering 7,933 units in the first half or 42 per cent of new supply from urban areas.

 Against new supply, take-up rate decreased from 48.3 per cent (24,895 units) in the second half of 2010 to 45.8 per cent (14,907 units) in the first half of 2011.
 Condominium development has boosted the prices of land along the skytrain's extended routes. Hence, condominium prices in the first half rose by 6 per cent from last year on average; 10 per cent for those in Ratchadapisek area, 5 per cent for those in inner city areas, and 1 per cent for condominiums in peripheral areas.