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The sales rate for new condos launched in Bangkok in the second quarter fell to 15.7 %, an all-time low, beating the lowest previous quarter (35%) in 2010 when the “red shirt” political crisis brought Bangkok to a standstill.
Risinee Sarikaputra, director of research, said to the Bangkok Post that “The normal quarterly sales rate for new condo launches is around 40-50%,”
According to Knight Frank’s market research, Bangkok hit a decade-long record for new condos entering the market, with 65,000 new units launched throughout 2018, up 11% from 2017, the highest since 2009.
In the first and second quarter this year, new condo supply launched in Bangkok totalled 12,882 units and 14,988 units, respectively.
Knight Frank reported Bangkok had cumulative condo supply from 2010 to the first half of 2019 of 594,453 units with a sales rate of 84%, unchanged from 2017.525,889 Empty homes i…
The Bangkok condominium market has slowed down due to the accumulation of unsold stock and the tightening of mortgage lending regulations.
This has caused buyers to be more careful, resulting in less demand from speculators and more emphasis on real demand.
This explains why developers are shifting their overall development portfolio to the low-rise housing market where demand for single-detached houses and townhouses is driven entirely by Thai end-users and owner occupier purchasers.
House purchasers have specific needs in terms of location, size, design and functionality. They also have a fixed budget. As such, developers need to focus on these needs and deliver the right product in the right place at a price people can afford.
Developers are capitalizing on new popular locations such as the Srinakarin-Rom Klao area, which has become popular for housing developments because of improvements in the road network and expansio…
ProperDi Co., Ltd. announced today that they have added selected property industry experts to continue their innovation in the property sector and changed their platform name to ProperDee.
These key additions are led by Mr. Cobby Leathers, Mr. Sievert Larsson, and Dr. Arie Bloed with additional participation from a team of property experts. Mr. Leathers will assume the title of CEO and direct company growth.
Mr. Leathers recently left Sansiri PLC after 10 years, most recently as Head of International Business. He is a noted expert of Thailand property and often appears on Bloomberg, CNN, Fox, and other news programs.
ProperDee’s goal is to become the property technology leader in Asia by providing the tools that empower property Agents to connect, learn, and succeed like never before.
And create the largest network of property professionals across Asia. We will grow across the King…