The Chonburi area is expected to see 13,000 new units this year alone with another 8,000 for the Hua Hin Cha-Am region. The greater Bangkok area is expection another 60,000 units up almost 43%. This according to a survey conducted by the REIC.
There have been some declines reported in low rise residential developments, Bangkok saw a decline of 29% in comparison to this time last year. The business section in "The Nation" has allot of buzz lately regarding housing and condo prices and the amount of current and expected development. I found these numbers and this article interesting and have posted it below.
In Greater Bangkok, the centre estimates new condo projects will supply 60,000 units this year, up 42.85 per cent from last year, and low-rise projects - detached houses, townhouses and duplexes - will supply 35,000 units, down 14.28 per cent. This will drive volume growth for the residential market to 15.85 per cent this year.
The full-year estimate for Greater Bangkok reflects the introduction in the first nine months of condo projects with 46,000 units, up 42 per cent from only 32,500 units in the same period of last year. Of those 46,000, 39 per cent or 18,000 units have usable space of 26 square metres or less, 36.9 per cent or 17,000 units have more then 30sqm and 23.9 per cent or 11,000 units have from 26-30sqm.
The first nine months recorded 24,000 units of new low-rise residential projects. This represented a steep decline of 29 per cent from 34,000 units in the same period of last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Prices in Greater Bangkok for condos rose 6.4 per cent on average this year, while detached-house prices increased 3.3 per cent and townhouse prices by 4.7 per cent. Developers had to cover their rising construction costs, he said.
The Bank of Thailand is also closely monitoring the condo market in Greater Bangkok as prices have spiked, central bank officials said last week.
The condo price index last month rose 8.1 per cent year on year, while mortgages increased 9.3 per cent. The detached-house price index climbed 2.4 per cent and that for townhouses 1.8 per cent year on year.
The supply of high-rise residential units in August expanded 4.8 per cent and that for low-rises by 13.9 per cent from July in Greater Bangkok.
There have been some declines reported in low rise residential developments, Bangkok saw a decline of 29% in comparison to this time last year. The business section in "The Nation" has allot of buzz lately regarding housing and condo prices and the amount of current and expected development. I found these numbers and this article interesting and have posted it below.
Huai Khwang, Chatuchak, Din Daeng, Sukhumvit from Phra Khanong to Samut Prakan, Chon Buri province, Hua Hin and Cha-am show signs of a condominium glut this year, according to the Real Estate Information Centre.
A survey by the REIC found that more than 13,000 condo units would enter the market in Chon Buri and nearly 8,000 units in Hua Hin and Cha-am this year. They will account for about a half of all sales in both locations.In Greater Bangkok, the centre estimates new condo projects will supply 60,000 units this year, up 42.85 per cent from last year, and low-rise projects - detached houses, townhouses and duplexes - will supply 35,000 units, down 14.28 per cent. This will drive volume growth for the residential market to 15.85 per cent this year.
The full-year estimate for Greater Bangkok reflects the introduction in the first nine months of condo projects with 46,000 units, up 42 per cent from only 32,500 units in the same period of last year. Of those 46,000, 39 per cent or 18,000 units have usable space of 26 square metres or less, 36.9 per cent or 17,000 units have more then 30sqm and 23.9 per cent or 11,000 units have from 26-30sqm.
The first nine months recorded 24,000 units of new low-rise residential projects. This represented a steep decline of 29 per cent from 34,000 units in the same period of last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Prices in Greater Bangkok for condos rose 6.4 per cent on average this year, while detached-house prices increased 3.3 per cent and townhouse prices by 4.7 per cent. Developers had to cover their rising construction costs, he said.
The Bank of Thailand is also closely monitoring the condo market in Greater Bangkok as prices have spiked, central bank officials said last week.
The condo price index last month rose 8.1 per cent year on year, while mortgages increased 9.3 per cent. The detached-house price index climbed 2.4 per cent and that for townhouses 1.8 per cent year on year.
The supply of high-rise residential units in August expanded 4.8 per cent and that for low-rises by 13.9 per cent from July in Greater Bangkok.
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