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Bangkok Riverside Condos Resale Prices Soar

By on May 15, 2014 in Property News, Residential

Resale prices of riverside condominiums in the Rama III-Ratchaburana area have more than doubled in recent years, thanks to rising demand for homes located close to the Chao Phraya.  A survey carried out by The Nation early this week found that resale prices in riverside condominium projects launched over the past five years now averaged Bt90,000 per square metre, against an average of Bt40,000 at the time of presales.  The sharp rise is due to the limited number of new residential projects being launched close to the capital’s river.

Kana Riverfront Rama 3, launched by Kanaphaya Property early this year at Bt175,000 per square metre, now fetches Bt190,000 per square metre.  Chapter One Ratchburana by Pruksa Real Estate is now on offer for Bt90,000 per square metre, more than double the presale level of Bt40,000 last year.

“Limited land supply close to the river drives residential prices near the Chao Phraya, with prices rising in line with growing demand,” said Pruksa’s managing director for condominiums, Prasert Taedullayasatit, who is also president of the Thai Condominium Association.

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