Condominium price increases grasp BOT's attention
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The Bank of Thailand is keeping an eye on condominium prices, which in August went up 8.1 per cent from the same period last year.
The central bank earlier said that it would closely monitor mortgage loans, before a sign of bubble would emerge.
In its August report, the BOT said that property prices tended to rise further, led by condominium segment. While condominium price index rose 8.1 per cent, the indices for single detached houses and townhouses rose only 2.4 per cent and 1.8 per cent, respectively.
Demand remained brisk. At the end of August, commercial banks' outstanding mortgage loans increased by 9.3 per cent from the same period last year.
New supply keeps flowing into the market. The number of newly-launched units in the Greater Bangkok went up by 8.5 per cent on year. While supply of low-rise development showed the increase of 13.9 per cent, high-rise supply rose 4.8 per cent.
