Condos In City Outskirts Enjoy High Volume Of Sales
Bangkok condos for sale, and especially nearby the BTS extension line in Krung Thong
Buri have shown an impressive record of sales, with an average take-up rate of 78%. In
fact, offered condominiums there are much cheaper than locations close to the Central
Business District (CBD).
Samma Kitsin, director-general of the Real Estate Information Center (REIC), said “the
line, opened in 2009, has drawn Bangkok property developers to create condo projects.
Sales have flourished because unit prices are lower than those across the river in the
To illustrate the high volume of sales enjoyed by condominiums across the river,
let’s take the example of Krung Thon Buri station. Since 2009, about 8 projects were
launched in the area totalling 2,500 units, of which 93% are sold. These Bangkok
condos were selling between 70,000 and 120,000THB/sqm. Second most popular city
outskirts BTS station was Wong Wian Yai with a take-up rate of 79%. Wutthakat station
area comes third with 3,500 units from 7 projects sold at 70%. Condos there are sold
between 65,000 and 85,000THB/sqm.
In fact, BTS stations around Bang Wa and Wutthakat are clearly in city outskirts but
in the end, it only takes 20-25mins for passengers to reach BTS Siam, which is a major
transportation hub. Moreover, and according to Mr Samma, the Bang Wa area will
attract more and more buyers since it will be at the intersection between the Blue line
with Hua Lamphong and the Green line with Bang Kae. Bangkok property developers
shall definitely launch more and more projects in those locations in the future.
Golden Land Property Development To Remain Confident Towards Bangkok Real Estate
Contrary to the current climate of fear towards investing in the Kingdom, SET-listed developer Golden Land Property Development Plc (GOLD) has announced it increased its amount of upcoming projects this year from 10 to 11, therefore worth more than 10 billion baht in total. In fact, the property developer remains extremely confident with regards to Bangkok real estate in 2014
Saenphin Sukhee, GOLD’s managing director of residential development, said, “the political situation will have a short-term impact on home purchasing power and the Bangkok property market, particularly single houses.”
“If the new government wants to expand the economy, the property market will be the first sector it will stimulate,” he said. “Despite the many political crises we have endured, property developers never get smaller in size – they have doubled.” According to Mr. Sukhee, GOLD is not concerned about high household debt affecting loan approvals. He affirmed, “If homebuyers’ credit is not tight due to a record of non-performing loans or being on a credit blacklist, commercial banks will continue to provide mortgages as usual.”
Moreover, the country shows several positive factors towards promising real estate in Bangkok for the future. These factors include a drop in the policy interest rate, a deduction in personal income tax, and a decrease in unemployment that is at 0.8% at the moment.
Besides, the National Economic and Social Development Board reported some positive forecasts regarding property purchasers in Thailand. In fact, low-income buyers are thought to rise from 17 million up to 20 million, while middle-income ones will rise up to 17 million (12 million in 2013). Thailand definitely remains the place to invest in Southeast Asia.