In the hottest selling areas for condos such as Pattaya, Naklua, Jomtien, and even the proclaimed "Beverly Hills" of Pattaya..Pratumnak Hill, there seems to be one overshadowed market place.
Chonburi province in its own right boasts huge industrial compounds that require corporate housing for both Foreigners and Thal Nationals.
LPN Development is currently estimating demand at 10,000 new condominium units per year to house blue and white collar workers currently working in Chonburi factories and industrial estates. These new projects are slated to very reasonably priced starting at 550,000 Bt and not to exceed 2 Million Bt.
To gain a better understanding of just how much of a housing shortage exists through Chonburi's industrial compounds please check out the article below from "The Nation".
These are located near eight industrial estates around the province, such as Amata, Laem Chabang, Saha Group's estate, three projects near Pinthong Industrial Estate, Hemaraj and Panthong Kasem Industrial Estate.
These estates host 479 manufacturing plants that employ more than 211,000 people, 10 per cent of whom are white-collar staff. Chon Buri also has five universities.
LPN Development managing director Opas Sripayak said many employees in the industrial estates and students and teachers in the universities rented serviced or unserviced apartments costing between Bt3,000 and Bt5,000 a month. But Chon Buri province has only 28 apartment projects with a combined 1,262 units, not enough to handle the rising demand.
The company's survey also showed that industrial-estate employees who want to buy a home needed the price not to be higher than Bt2 million.
As a result, the company decided to launch its latest condominium project, Lumpini CondoTown Chonburi-Sukhumvit, worth Bt2.6 billion. The project has 4,181 units at starting prices of Bt550,000, which have utilisation space of 21 square metres.
The project will open for booking next weekend.
By the end of last week, the company had already issued 2,000 queue tags to people interested in booking next weekend, and expects tags to total 2,500-3,000 before bookings open on Saturday.
This is an indication of the strong demand in this market after the company had successful launches of three condominium projects in Pattaya worth Bt8.2 billion in the first half of the year.
Sansiri also will launch its first condominium project in Pattaya, in the Wong Amat area, next weekend called Baan Plai Haad, worth Bt2.2 billion, with 353 units at a starting price of Bt3.59 million.
In the third quarter, Kingdom Property Co launched a condominium project called Southpoint Pattaya, worth Bt2 billion.
In the same quarter, Kotobuki Property launched a condominium project worth Bt95 million at Lamthan, Chon Buri province.
A survey by the Agency for Real Estate Affairs shows 87,500 residential units worth Bt246.5 billion in Chon Buri province, of which 60,241 have sold. The agency believes that the rest will be sold out by the end of the year because this market has strong demand, especially for units priced lower than Bt3 million.
Chonburi province in its own right boasts huge industrial compounds that require corporate housing for both Foreigners and Thal Nationals.
LPN Development is currently estimating demand at 10,000 new condominium units per year to house blue and white collar workers currently working in Chonburi factories and industrial estates. These new projects are slated to very reasonably priced starting at 550,000 Bt and not to exceed 2 Million Bt.
To gain a better understanding of just how much of a housing shortage exists through Chonburi's industrial compounds please check out the article below from "The Nation".
More than Bt20 billion worth of new condominium projects will be launched in Chon Buri province, including Pattaya, in the current second half of the year thanks to strong demand. Most of the demand is for condos priced lower than Bt2 million.
LPN Development says it sees demand in Chon Buri for nearly 10,000 condominium units per year.These are located near eight industrial estates around the province, such as Amata, Laem Chabang, Saha Group's estate, three projects near Pinthong Industrial Estate, Hemaraj and Panthong Kasem Industrial Estate.
These estates host 479 manufacturing plants that employ more than 211,000 people, 10 per cent of whom are white-collar staff. Chon Buri also has five universities.
LPN Development managing director Opas Sripayak said many employees in the industrial estates and students and teachers in the universities rented serviced or unserviced apartments costing between Bt3,000 and Bt5,000 a month. But Chon Buri province has only 28 apartment projects with a combined 1,262 units, not enough to handle the rising demand.
The company's survey also showed that industrial-estate employees who want to buy a home needed the price not to be higher than Bt2 million.
As a result, the company decided to launch its latest condominium project, Lumpini CondoTown Chonburi-Sukhumvit, worth Bt2.6 billion. The project has 4,181 units at starting prices of Bt550,000, which have utilisation space of 21 square metres.
The project will open for booking next weekend.
By the end of last week, the company had already issued 2,000 queue tags to people interested in booking next weekend, and expects tags to total 2,500-3,000 before bookings open on Saturday.
This is an indication of the strong demand in this market after the company had successful launches of three condominium projects in Pattaya worth Bt8.2 billion in the first half of the year.
Sansiri also will launch its first condominium project in Pattaya, in the Wong Amat area, next weekend called Baan Plai Haad, worth Bt2.2 billion, with 353 units at a starting price of Bt3.59 million.
In the third quarter, Kingdom Property Co launched a condominium project called Southpoint Pattaya, worth Bt2 billion.
In the same quarter, Kotobuki Property launched a condominium project worth Bt95 million at Lamthan, Chon Buri province.
A survey by the Agency for Real Estate Affairs shows 87,500 residential units worth Bt246.5 billion in Chon Buri province, of which 60,241 have sold. The agency believes that the rest will be sold out by the end of the year because this market has strong demand, especially for units priced lower than Bt3 million.
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