Bangkok Residential Sales MarketView Q3 2009

Bangkok Residential Sales MarketView Q3 2009

For the second consecutive quarter the majority of sales have come from Thai nationals, who are not just looking to be end users but also to be buy to rent investors. Thai purchasers believe that prices have reached the bottom and are going to rise and see property as a reliable investment when compared to equities or the fixed income market. End user purchasers are focusing on projects approaching completion where they can see the end result.

The third quarter continued to post positive sales levels, demand remained strongest in the entry to mid levels (below THB 60,000) with a sales rate of 80% and 89% respectively.

The third quarter of 2009 has seen a slight rise in the number of completed condominium units with 1,015 being built. This brought the total number of condominium stock in the downtown area to 61,522 an increase of 1.7% Q-o-Q and a marked increase of 14.1% Y-O-Y.  The increasing condominium supply doesn’t look like stopping with a further 4,854 units planned for completion by the end of 2009.