Bangkok Residential Sales MarketView Q1 2010

Bangkok Residential Sales MarketView Q1 2010

The majority of condominium sales have come from Thai nationals not just looking to be end users but also to be buy to rent investors. The growing numbers of Thai buyers reflects the improvement in local consumer confidence.

The biggest surprise for many people this quarter is that generally prices did not fall in fact it was in many cases the opposite where prices in some recently completed projects actually rose. Developers are almost all focusing on new launches of one bedroom units. The amount of unsold developer inventory in recently completed projects and projects to be completed in 2010 together with resales prior to completion will slow the launch of new projects for 2 and 3 bedroom units downtown. Developers are going to focus on smaller units to keep the total price down but there appears to be having been a move away from studios to one bedroom units.