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Bangkok Residential Sales & Leasing MarketView Q1 2011

By on Jun 23, 2011 in Research

Condominium developers started 2011 in a cautious mood and we saw few of the large listed companies launching new developments. The size of the developments in terms of unit numbers were smaller and there were more nonlisted developers than listed developers.

One of the largest launches for the lower end of the market was Lumpini Ville Lasalle Bearing. The project sold well at launch the majority of the units were 22.50 square metres and the total price per unit was around 700,000 baht.

There were few new launches in the downtown area. The biggest project was the Circle Living Prototype Condominium developed by Fragant Property Limited which is located on New Phetchburi Road with 477 units with an average unit size of approximately 38 sq.m and a starting total unit price of approximately THB 4.0 million.

We think developers were more cautious because they saw sales slowdown after the large number of new launches in Q3 and Q4 2010 and the decrease in demand from speculators a number of whom were finding it harder to resell their existing units.

Prices for new projects are rising because of increased construction costs and land prices especially in the downtown area and along the routes of new mass transit systems.

This is an extract from Bangkok Residential Sales & Leasing MarketView Q1 2011, please click here to view the whole article.

Toby has been living in Bangkok for a number of years and has a strong research background. With his years in Thailand Toby brings a wide range of property knowledge to his research writing

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