Project launches forecast to rise at least 10% in 2018
Property agency Nexus Property Marketing forecasts the property market will see growth of more than 10 per cent in the number of project launches next year.
This year Bangkok condominium have been booming, with the most project launches seen in a decade. The Phra Khanong-Suan Luang area remains attractive with the largest number of new projects launched. The Pathumwan—Ratchathewi area has seen the highest increase in prices , by up to 16 per cent.
Nexus points that a future residential trend will move to a “transition” situation, being driven by various factors including investment by foreigners, the exponential growth of the CLMV countries (Cambodia, Laos, Myanmar, and Vietnam), the trend for an ageing society, technology influencing new property development, the company’s managing director Nalinrat Chareonsuphong said.
According to the survey, the top three locations for condominium supply increases are: 1. Phra Khanong—Suan Luang, with 14,400 units or a rise of 23 per cent; 2. Phaya Thai—Ratchadaphisek, with 13,200 units and an increase of 21 per cent; and 3. Thon Buri— Petchakasem, with 8,900 units or a growth of 14 per cent. New supply in these locations accounts for 58 per cent of the total number of new condominiums launched in Bangkok.