Condominium launches hit ten-year high in third quarter
The number of condominium projects launched in Bangkok hit a ten-year high in the third quarter, offering 22,579 units from 46 developments worth a total of Bt107.54 billion, according to a survey by Collier International (Thailand) Co Ltd.
The figure represents a 20 per cent growth from the number of projects launched in the same period last year.
Up to 14 per cent are located alongside the existing mass transit routes in the inner city while 45 per cent of the total will be developed in areas close to the new mass transit network still under construction.
Prices of the new units range from Bt70,000 to Bt145,000 per square metre, the research said.
Meanwhile, the Real Estate Information Center (REIC) of Government Housing Bank reported transfers of 173,000 residential units in the first half, up 26 per cent from the same period last year.
Of the total, 59,000 were handed over to buyers of condominium units and 114,000 to buyers of single detached houses, townhouses, and twinhouses. About 91,000 of the transferred units are located in Bangkok.
“Demand for residential units has been strong this year, mostly real demand from homebuyers,” said Wichai Viratakaphan, REIC’s acting director-general.
Most of the new condominium projects launched in the first half have reported presale rates of 70 to 80 per cent compared with 31.8 per cent for single-detached houses, according to REIC.