700,000 housing units flooded
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Up to 700,000 residential units in Bangkok and suburbs have been flooded, against 400,000 last week, according to the Real Estate Information Centre (REIC).
Of total, about 100,000 units are under construction and have not yet been transferred to buyers.
According to the REIC, property transactions this year will drop by 10-20 per cent from last year and the number of newly-registered units in Greater Bangkok will fall by 15-25 per cent to 80,000-90,000 units this year. Last year's registered units reached 107,000 units.
The number of low-rise units, including detached, twin and townhouses, will drop by 7-16 per cent from 54,000 units last year to 45,000-50,000 units by the end of this year. New condominium projects launched in Bangkok and the suburbs this year will also drop 24-31 per cent from 66,000 units last year to 45,000-50,000 units.
