Total number of new supply in 1H 2017 increased 39% to 30,493 units compared to 21,927 units in 1H 2016.
On demand front, there were 27,275 condos sold in the first half of 2017, up 11.5% from the same timeframe in 2016. New launching supply in CBD, city fringe, and peripheral were accounted of 6%, 29%, and 65%, respectively.
Majority of the new developments are in lower-end to middle market segments and situated along new mass transit routes especially BTS Light Green Line Extension (Mo Chit – Kukot and Bearing – Samrong), MRT Pink Line (Kae Rai – Minburi), and SRT Dark Redd Line (Bang Sue – Rangsit).
Condominium projects launched in 1H 2017 recorded an average take-up rate of 75%, representing an increase of 1.7% compared to the first half of 2016.
However, certain projects commanding affordable pricing, attractive down-payment packages, exceptional amenities, and convenient locations were able to achieve higher sales within weeks of launch. Prime and Super Prime condominium units accounted for 89% of the total new units being launched in CBD in 1H 2017.