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Bangkok Property Market Still Seeing Growth For 2014

In spite of the current economic slowdown and the protests, Bangkok Real Estate has still a promising future ahead.

In fact, prices of Bangkok condo for sale keep on increasing, mostly due to rise in land prices that pushed development costs. Prices in the central business district (CBD) areas continued to grow as major development sites became scarce, according to HipFlat, a real-estate search portal.

Demand is stable and strong, especially downtown in the Central Business District and all along the BTS lines.

Moreover, because of the planned extension on the mass transit system, developers keep on increasing supply by building up new projects in the peripheral areas. Thus, they are meeting customers’ needs without any sign of oversupply in the city.

Besides, and according to BTS Property Group search records, Bangkok condos along Sukhumvit BTS line are the most popular, especially prime areas like Asok, Phrom Phong, Thong Lo and Ekkamai where rental yield can be really attractive.

Following trends found in other large cities worldwide, people in Bangkok are even keener on living in modern high-rise condominiums located nearby BTS/MRT stations as transportation remains a major concern for most people here.

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Properties Prices Up As BTS/MRT Drive Buyers To City Outskirts

Prices for property in Bangkok, Nonthaburi and Samut Prakan generally increased by 5.6% between 2012 and 2013. Also, Bangkok condos along BTS extension line in Bang Na and MRT Purple Line have witnessed the highest rise.

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In fact, while Bangkok property prices rose up by 5.5%, condos around Nonthaburi and Samut Prakan enjoyed a huge increase of 8%., according to Samma Kitsin, director-general of the Real Estate Information Center (REIC).

More precisely, districts where Bangkok condos substantially increased include Chatuchak, Huai Khwang, Phra Khanong, Bang Na, Klong San, Thon Buri, Prawet and Bang Khen.

Regarding townhouses and single houses, Bangkok real estate price index strongly rose by 6.9% and 6.1% respectively.