Post by account_disabled on Dec 30, 2023 5:41:33 GMT
Mr. Phanom Kanchanathiamthao Managing Director of Knight Frank Thailand Company Limited said that the condo market in Bangkok continues to slow down due to decreased demand from both Thai and foreign buyers. Project developers are becoming more deliberate in launching new projects. and the strategic plan has been adjusted to suit the economic conditions. Many major developers reported a decline in the value of condo reservations in the first half of 2019, and the demand for speculative investment also decreased. Because the market is slowing down Meanwhile, demand from foreign investors weakened as the baht continued to strengthen against the yuan and the US dollar. This is caused by the uncertainty of the trade war between the United States and China.
and the world economy slows down Knight Frank predicts that condo sales Job Function Email Database prices will not decrease. This is because we do not see any possibility that land prices will decrease in any way. Supply According to Knight Frank Thailand research, it is found that the supply in Bangkok There were a total of 594,453 units in the first half of 2019, with approximately 27,870 units already launched in the first half of 2019, a 19 percent decrease compared to new projects launched in the same period last year. It is expected that the new supply throughout the year will not exceed 50,000 units, which is a decrease of 27 percent from last year and approximately 74 percent of the newly launched supply from major project developers. Most of the new supply remains in the Bangkok suburbs. accounting for 53 percent of new supply in the first half of 2019, followed by outer areas and central business districts. This represents 32 percent and 15 percent, respectively. Of the total supply units launched in the first half of this year, 55 percent are located along the mass transit lines currently in service.
Meanwhile, 42 percent are located along the electric train lines that are currently under construction, showing the trend of project developers who tend to develop in areas with complete infrastructure and amenities. This is where the response has been good. In addition, the price of land along the electric train route is quite high, making it not worthwhile to develop buildings in any form other than developing them into high-rise buildings. However, along the area of the electric train route that is undergoing expansion or construction is of interest to project developers and buyers. Because the price is reasonable There are also quality condos with affordable prices. with prices lower than 120,000 baht per square meter in those areas as well. Graph 1: Old supply and new supply of condominiums in Bangkok, 2010 - first half of 2019 Graph-1-1024x613 Graph 2: New supply divided by area in First half of 2019 Graph-2-1024x691 Demand Demand at the end of 2018 remained stable, with approximately 501,638 units already sold. From a total of 594,453 units, accounting for 84 percent, while the number of units open for sale continues to increase.
and the world economy slows down Knight Frank predicts that condo sales Job Function Email Database prices will not decrease. This is because we do not see any possibility that land prices will decrease in any way. Supply According to Knight Frank Thailand research, it is found that the supply in Bangkok There were a total of 594,453 units in the first half of 2019, with approximately 27,870 units already launched in the first half of 2019, a 19 percent decrease compared to new projects launched in the same period last year. It is expected that the new supply throughout the year will not exceed 50,000 units, which is a decrease of 27 percent from last year and approximately 74 percent of the newly launched supply from major project developers. Most of the new supply remains in the Bangkok suburbs. accounting for 53 percent of new supply in the first half of 2019, followed by outer areas and central business districts. This represents 32 percent and 15 percent, respectively. Of the total supply units launched in the first half of this year, 55 percent are located along the mass transit lines currently in service.
Meanwhile, 42 percent are located along the electric train lines that are currently under construction, showing the trend of project developers who tend to develop in areas with complete infrastructure and amenities. This is where the response has been good. In addition, the price of land along the electric train route is quite high, making it not worthwhile to develop buildings in any form other than developing them into high-rise buildings. However, along the area of the electric train route that is undergoing expansion or construction is of interest to project developers and buyers. Because the price is reasonable There are also quality condos with affordable prices. with prices lower than 120,000 baht per square meter in those areas as well. Graph 1: Old supply and new supply of condominiums in Bangkok, 2010 - first half of 2019 Graph-1-1024x613 Graph 2: New supply divided by area in First half of 2019 Graph-2-1024x691 Demand Demand at the end of 2018 remained stable, with approximately 501,638 units already sold. From a total of 594,453 units, accounting for 84 percent, while the number of units open for sale continues to increase.