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Bangkok property developers see bright year ahead

By on Jan 18, 2016 in Investment-Land, Property News

“The property market will grow by 5-10% nationwide this year, especially in greater Bangkok, thanks to the government’s investment in infrastructure projects,” the president and chief executive officer of Pruksa Real Estate, Thongma Vijitpongpun, said during an interview with The Nation.

The government is starting to invest in its planned infrastructure projects will open up new land, in turn enabling developers access to more residential projects.

Pruksa is planning to launch more residential projects than in 2015. Pruksa launched 50 projects in 2015 and is planning 70 projects in 2016. Sansiri plans to launch 21 projects in 2016 providing 40% more presales growth. They estimate 2016 revenue will be just below the level attained in 2015.

The investment in infrastructure such as double-track railways, motorways and 10 new mass-transit routes in Bangkok will turn Thailand into a regional transport hub for the ASEAN economic community and will boost demand to buy homes, both in Bangkok and the provinces.

Housing prices are showing signs of increasing, by an estimated 2-5 percent following rising land costs.

CB Richard Ellis (Thailand) managing director Aliwassa Pathnadabutr said luxury condominiums in the central business districts of Bangkok looked likely to increase from an average price of Bt300,000 per square metre at the end of last year to Bt350,000 per square metre for new launches this year, as well as for existing projects still on the market.  This is due to the limited amount of land available and CBD land prices rising.

A survey by The Real Estate Information Centre has shown that detached houses saw prices rising 2.2% in Bangkok, and by 2.3% in the suburbs, while townhouse prices increased by 3% and 3.1% respectively.

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Source: The Nation, 8th January 2016

Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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