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Condominiums the big gainer in 2012

By on Jul 19, 2012 in Property News

2012 will be the year of the condominium, as reflected in the 12-month increase in the condominium price index in Greater Bangkok during the first half that was higher than the single house and townhouse price indices, says the Real Estate Information Center (REIC).

Worawit Chailimpamontri, president of the Government Housing Bank (GH Bank), said the number of new condominiums in the period was triple that of single houses and townhouses.  “Housing demand in all segments remains strong. Overall housing sentiment should be back in the second half, as a repeat of last year’s flooding is unlikely to occur. This will build up homebuyer confidence,” he said.

The dismal first-half sentiment, caused by last year’s flood, was echoed in GH Bank’s new-home loan figures, totalling only 40 billion baht, 20% lower than its target.   It expects to reach 100 billion baht for the full year.

The REIC said the condominium price index in all segments was 115.56 points in the first half, up by 6.44 points year-on-year and by 2.94 points from the end of last year.   “Consumers are interested in condominiums in the city, as they seek a second home after facing last year’s flooding,” said Samma Kitsin, the REIC’s director-general.

For the full article, visit http://www.bangkokpost.com/business/economics/303188/condominiums-the-big-gainer-in-2012 .

Source : Bangkok Post 19 July 2012

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