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Bangkok Condos – 70,000 New Condos Expected in Bangkok

By on Oct 21, 2013 in Property News

The Real Estate Information Center (REIC) predicted a total of 70,000-75,000 new condominium units would be added to the market in 2013, a record for the property industry.  Samma Kitsin, REIC’s director-general, said the projection for new condominiums this year was higher than in the 1997 financial crisis, but to be expected, since condominiums are gradually replacing single housing units in some locations.

“The high number of new condominium units may not be a worry because overall launches are still at a similar level to other years. If the overall number were jumping up, it may signal a dangerous sign of oversupply,” said Mr Samma.  He noted that launches of new single housing units and townhouses is projected to stand at 40,000 units in 2013.

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