The Bangkok condominium supply at the end of the second quarter stood at 362,697 units, representing a 4.2 per cent increase from the previous quarter and a 23.9 per cent increase from the same period last year, according to Knight Frank Chartered (Thaila
In the first six months, 34,439 units from 71 condominium projects were added to the supply, of which 20,780 units from 37 condominium projects were launched in the second quarter.
The majority of newly-launched units in the second quarter was still in the peripheral area, representing 73 per cent of total.
Only 1,242 units were launched in the city area due to scarcity of land.
Risinee Sarikaputra, director and head of research and consultancy, noted that the prices of newly-launched units continued to climb across Bangkok but at different paces. In the central business district (CBD), the prices went up at the fastest pace. All new projects launched in this area are all super-luxury, some with selling prices above Bt250,000 per square metre. These included the Four Seasons Private Residence, NIMIT Langsuan, TELA Thonglor, and Q Sukhumvit. The average selling price in this area was Bt212,588 per square metre in the second quarter, an increase of 18.5 per cent over the same period last year.
Risinee said that the downtown condo market is at its peak.
Demand for units in the area was also brisk. The number of available units in the area stood at only 5,168 units at the end of June. This is about 10 per cent of approximately 53,309 units in all locations available for sale.