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Thailand Condominiums – Large Developers Optimistic

By on Oct 22, 2014 in Property News, Residential

New condominium supply in August and September outpaced unit launches in the first half, driven by projects from large property developers that expressed stronger confidence in the market’s prospects. Prasert Taedullayasatit, president of the Thai Condominium Association (TCA), said the momentum would help to shore up overall housing market value for a full-year decline of less than 10% after a sharp drop of 21% in the first half.

In August and September, newly launched condo supply from seven listed developers reached 70 billion baht compared with 54 billion in the first half.  The seven are Pruksa Real Estate, Land and Houses, Supalai, AP (Thailand), Noble Development, Property Perfect and Ananda Development.  The TCA expects full-year housing market value to reach 310 billion baht, down by 5-10% from last year, before rising to 350 billion next year.

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