No crisis: Bangkok’s condo sector growing

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Manhattan chidlomDespite the ongoing turmoil in Thailand’s capital Bangkok, the condominium sector is doing well, with prices in the central business district (CBD) areas continuing to grow as major development sites became scarce.

HipFlat, a Thai real-estate search portal, said condo price rises were mainly driven by increasing land prices that pushed development costs and unit prices. Demand also showed stable growth in downtown locations, while rental rates were strong in the CBD, especially at locations near mass transit links.

The resilience is well demonstrated by long-term market growth in Bangkok. Condo sales continued to improve slightly in the final quarter of 2013. Though there is a threat of increasing debt within households, property developers continue to display confidence in the market.

Hipflat mentioned that there were no signs of an oversupply. This is especially true for buildings located along mass transit lines. With planned extensions to the subway, property developers can look for increasing supply in n Bangkok’s peripheral areas.

The skytrain’s Sukhumvit line remains the most popular area for home buyers, especially in the Thong Lor to Ekamai area. Also popular with buyers were Sathorn, Ratchadaphisek Road and Rama IX Road near mass transit lines. Similarly, the areas near the Ari, Phaya Thai, Ratchathewi, Krung Thon Buri and Wong Wian Yai skytrain stations are all visibly trending.

Most condo market demand in Bangkok comes from the growing Thai middle class, the real estate firm said.

Areas in Bangkok with high demand for condominiums (Source: HipFlat):

BKK condo market areas

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Despite the ongoing turmoil in Thailand's capital Bangkok, the condominium sector is doing well, with prices in the central business district (CBD) areas continuing to grow as major development sites became scarce. HipFlat, a Thai real-estate search portal, said condo price rises were mainly driven by increasing land prices that pushed development costs and unit prices. Demand also showed stable growth in downtown locations, while rental rates were strong in the CBD, especially at locations near mass transit links. The resilience is well demonstrated by long-term market growth in Bangkok. Condo sales continued to improve slightly in the final quarter...

Reading Time: 1 minute

Manhattan chidlomDespite the ongoing turmoil in Thailand’s capital Bangkok, the condominium sector is doing well, with prices in the central business district (CBD) areas continuing to grow as major development sites became scarce.

HipFlat, a Thai real-estate search portal, said condo price rises were mainly driven by increasing land prices that pushed development costs and unit prices. Demand also showed stable growth in downtown locations, while rental rates were strong in the CBD, especially at locations near mass transit links.

The resilience is well demonstrated by long-term market growth in Bangkok. Condo sales continued to improve slightly in the final quarter of 2013. Though there is a threat of increasing debt within households, property developers continue to display confidence in the market.

Hipflat mentioned that there were no signs of an oversupply. This is especially true for buildings located along mass transit lines. With planned extensions to the subway, property developers can look for increasing supply in n Bangkok’s peripheral areas.

The skytrain’s Sukhumvit line remains the most popular area for home buyers, especially in the Thong Lor to Ekamai area. Also popular with buyers were Sathorn, Ratchadaphisek Road and Rama IX Road near mass transit lines. Similarly, the areas near the Ari, Phaya Thai, Ratchathewi, Krung Thon Buri and Wong Wian Yai skytrain stations are all visibly trending.

Most condo market demand in Bangkok comes from the growing Thai middle class, the real estate firm said.

Areas in Bangkok with high demand for condominiums (Source: HipFlat):

BKK condo market areas

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