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By on Aug 07, 2017 in Residential

Higher mortgage rejection rates and weak purchasing power are luring more developers to the luxury segment, but saturation is a real concern.

luxury condo in CBD

The Esse at Singha Complex is a part of the Singha Complex, a mixed-use development that is crafted and redefined

With mass-market property projects turning sour over the past two years thanks to an oversupply and unfavourable economic constraints, many developers have shifted to the affluent market to capture the luxury demographic that has fared quite well for the past three years.

The period from 2014-16 represented a boom in the luxury and super-luxury category. Property consultant CBRE Thailand reported more than 30 luxury condominium projects in the central business district (CBD) area launched during the period and the trend is expected to continue this year.

CBRE said most big-box players are getting into the luxury market as the segment has gained steam. Even developers that have traditionally focused solely on the mid to low-end markets are launching new luxury projects.

Aliwassa Pathnadabutr, CBRE’s managing director, said a sluggish middle and lower-end segment has lured Pruksa Real Estate and L.P.N. Development to the luxury market. Click to continue reading

Source: Bangkok Post – 31 July 2017

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