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Research Centre
17 Mar 10
Bangkok Overall MarketView Q4 2009
Bangkok Overall MarketView Q4 2009
Both the economy and the property market improved in the fourth quarter of 2009.
In the condominium sector developers focused on one bedroom units. LPN and Supalai both publicly listed developers sold over 4,000 condominium units in projects launched in one weekend in November. At the same time there are developments being completed that still have unsold inventory.
The office market remained weak. Grade A CBD Rents fell by 7.8% over 2009 despite little new supply.
The Industrial sector saw land sales of 901 rai (356.13 acres) for the whole of 2009 and investor confidence was shaken by the halting of 76 new projects at the Map Ta Phut Industrial Estate because the original permit procedure omitted a Health Impact Assessment required by the constitution.
Retail sales improved in the fourth quarter and there is limited future supply.
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