Bangkok area to see condo sup­ply growth

The Myanmar Times - Weekend - - International Business - Su­ra­chet Kongcheep Col­liers Thai­land

THE Greater Bangkok res­i­den­tial con­do­minium mar­ket will con­tinue grow­ing with strong de­mand in lo­ca­tions near mass tran­sit lines, driv­ing sup­ply in Non­thaburi and Sa­mut Prakan provinces, says prop­erty con­sul­tant Col­liers In­ter­na­tional Thai­land.

The condo mar­ket in th­ese two provinces has ben­e­fited from the ex­ten­sion of mass tran­sit lines, said Su­ra­chet Kongcheep, di­rec­tor of re­search at Col­liers Thai­land.

“The condo sales rate in Non­thaburi is healthy at 71pc, but the num­ber of un­sold units is quite high at 13,800, the high­est of the five provinces neigh­bour­ing Bangkok,” said Mr Su­ra­chet.

The Real Es­tate In­for­ma­tion Cen­ter (REIC) re­ported the num­ber of un­sold con­dos in Bangkok and five neigh­bour­ing provinces to­talled 63,658 units from a to­tal of 242,852 units at 437 projects in the first half this year.

The five neigh­bour­ing provinces are Non­thaburi, Pathum Thani, Sa­mut Prakan, Sa­mut Sakhon and Nakhon Pathom.

The largest num­ber of un­sold con­do­minium units were in Bangkok with 34,199 units, fol­lowed by Non­thaburi (13,866 units), Sa­mut Prakan (8,725 units), Pathum Thani (5,434 units), and Nakhon Pathom (1,036 units).

The sales rate of con­do­minium units in Sa­mut Sakhon was at 73%, 70% for Nakhon Pathom, 66% for Sa­mut Prakan and 60% for Pathum Thani, said Mr Su­ra­chet.

“At­trac­tive lo­ca­tions for prop­erty de­vel­op­ment in the five neigh­bour­ing provinces should be near mass tran­sit lines, close to com­mer­cial zones, and near ex­press­ways,” he added.

Mr Su­ra­chet said Sa­mut Prakan has many ameni­ties, in­clud­ing large shop­ping cen­tres, of­fice build­ings, the BTS skytrain, and Su­varn­ab­humi air­port.

“Provinces neigh­bour­ing Bangkok have con­tin­ued to grow. The most at­trac­tive lo­ca­tions are those along the mass tran­sit lines,” he said. “Sin­gle houses and the town­house mar­ket will ex­pand, while con­dos at­tract in in­ter­est in some lo­ca­tions.”

Peer­apong Ja­roon-ek, chief ex­ec­u­tive of Set-listed de­vel­oper Ori­gin Prop­erty Plc, said Sa­mut Prakan is one of the ar­eas with the high­est po­ten­tial for de­vel­op­ment due to prox­im­ity to Sukhumvit Road and BTS skytrain.

“Res­i­den­tial de­mand in Sa­mut Prakan comes from both peo­ple work­ing in the prov­ince, mostly in the in­dus­trial sec­tor, and those work­ing along Sukhumvit Road,” he said.

Ac­cord­ing to REIC, the num­ber of res­i­den­tial projects in Greater Bangkok, where at least six units still re­mained for sale to­talled 1,563 sites, with a com­bined 451,089 units in the first six months.

Of the to­tal sup­ply, 141,877 units were un­sold. The largest un­sold num­ber was con­dos, with 63,658 units, fol­lowed by 41,451 town­house units and 25,356 sin­gle house units.

– Bangkok Post

‘Provinces neigh­bour­ing Bangkok have con­tin­ued to grow.’

Newspapers in English

Newspapers from Myanmar

© PressReader. All rights reserved.