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Single homes, townhouses set to recover

By on Aug 24, 2012 in Property News

The single house and townhouse market should rebound in the second half as the glut of condominium launches from the first half thins.

Issara Boonyoung, president of the Housing Business Association, said the number of new single houses and townhouses launched in July was triple that of condominiums, a good sign for the low-rise segment.

During the first seven months of the year, new housing unit launches rose by 1% from the same period a year earlier. “It was the first time in Thai property history that the ratio of condominium and low-rise unit launches was 70:30. In previous decades, condos made up 40%. The previous peak for condos was 55% in 2010,” he said.

Flooding last year shifted demand to condominium units. During the first half of this year, the number of newly registered housing units rose 25% from the same period last year. But low-rise units were down by 12% while condos grew 74%.

The floods also shifted demand from Greater Bangkok to the provinces.

Mr Issara expressed confidence that there will not be floods this year, but added the government should have a team to inform the public each month about progress in the water management plan to ensure confidence among developers.

For the full article, please vist http://www.bangkokpost.com/business/economics/309116/single-homes-townhouses-set-to-recover

Source : Bangkok Post 24 Aug 2012

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