Thailand's leading real estate agent

Bangkok Condominium Developers Unfazed by Soaring Prices

By on Aug 12, 2015 in Property News, Residential

The large Bangkok condominium developers are still actively spending to acquire land in prime locations. This is despite the gloomy economy and soaring land prices. A few weeks ago, the price of Bangkok land reached a new high of  1.91 million baht per square wah. This was for a 3 rai plot opposite the Chidlom branch of Central Department Store which was quickly snapped up by the SET-listed developer SC Asset Corporation PLC. The plan is to launch a luxury condo project on the plot.  According to the Treasury department, the land was worth less than half of this amount. Market forces have dictated the price.

The previous record was 1.8 million baht per square wah. This was for a plot on Sukhumvit Soi 6, next to Nana Sky Train station. It was acquired by Quality House PLC.

The president of the Thai Condominium Association, Prasert Taedullayasatit , said soaring land prices had driven up condominium prices despite lower purchasing power.

For the full article please click here.
Source: Bangkok Post July 30 2015

 

No comment





 

emailSubscribe Via Email

Privacy guaranteed. We will not share your information.

Follow Me on Twitter

Follow Me on Facebook

Subscribe via RSS Feed

Copyright © 2020 CBRE (Thailand) Co., Ltd. All Rights Reserved.