City’s condominium sector still seeing strong growth
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.
It 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 in locations near mass transit links.
The resilience is well demonstrated by long-term market growth in Bangkok. Continue reading City’s condominium sector still seeing strong growth
Central Bangkok condo launches leap in Q3
Bangkok’s central business district (CBD) condo market recorded a rise in third-quarter launches with 2,440 units, compared with 1,600 in the second quarter.
Despite warnings of rising household debt in the overall economy, developers continued to show modest confidence in homebuyer appetite by launching new projects before the year-end festivities, which take place over what is usually a quieter period for housing activity, according to property consultant DTZ.
The central zone _ Chidlom, Phloenchit, Ratchadamri, Rama I, Sam Yan and Ratchathewi _ was especially active with four project launches, accounting for 71% (1,700 units) of total launches in the third quarter. Continue reading Central Bangkok condo launches leap in Q3
BTS Group boosting dividend to B6bn and beyond
Back at home, Bangkok Mass Transit System Plc, the BTS subsidiary and skytrain operator, has received five Chinese-made four-car trains to be used on the 5.3-kilometre extension of the Silom Line from Wong Wian Yai to Bang Wa.
Made by Changchun Railway Vehicles Co, the 20 carriages worth 1.2 billion baht have arrived at Laem Chabang port and should begin trial runs on Dec 5, said chief operating officer Surapong Laoha-Unya.
Continue reading BTS Group boosting dividend to B6bn and beyond
Condo market stalls in Bangkok suburbs in Q3
Bangkok’s condominium market showed signs of slowing in the suburbs in the third quarter, according to a report by Colliers International Thailand.
The number of new launches decreased by about 10.5% from the previous quarter.
The 11,240 units launched were mostly in urban areas and focused on the middle-income market.
The number of newly launched units in suburban Bangkok in the second quarter declined from the first quarter and continued to decrease in the third.
Surachet Kongcheep, associate director of Colliers’ research department, said the decrease was because developers were concerned about household debt in the middle-to-low-income market and focused more on the higher-income urban market and along the extensions of mass transit systems.
Most new condo projects in the third quarter (8,950 units) were located in the urban area, while there were only 2,290 units in the suburban area.
The Outer City West Area saw the highest number of new launches at about 3,000 units. Most were located near the new Wutthakat skytrain station, which is due to open at the end of this year. Continue reading Condo market stalls in Bangkok suburbs in Q3
Prices for all residential types in Bangkok and vicinities surged in the first half due to rising wages and construction material costs, with Bangkok condos priced below 50,000 baht per square meter seeing the highest increases.
The price index for condos priced between 50,000-79,999 baht per sq m rose 7.2%, with the highest increase seen on Ratchadaphisek Road, Chatuchak, Bang Kapi and Rat Burana.
Units priced 80,000 baht and above increased 5.5%, with highest increase in Pathumwan, Ratchathewi, Watthana, Phra Khanong and Sathon districts.
The price index for single houses and townhouses in Greater Bangkok rose 5.1% and 5.9%, respectively. Single houses in Bangkok rose 5.3% while those in Nonthaburi, Pathum Thani and Samut Prakan rose 5%.
Townhouses in Bangkok and the three provinces increased 5.8% and 5.9%, respectively.
REIC started the condo price index survey in the first half of 2010 and that of townhouses and single houses the following year. It uses the price index in the second half of 2009 as the base year for the three housing type.
Published: 12 Jul 2013 at 00.00 Newspaper section Bangkok Post: Business
Pho Nimit opens today on 12th January and Talad Phlu will be opened on 14th Feb, 2013
It is great new for all the residents of Ratchada, Rajaphuk and Kallapraphuk area. Today on children’s day, January 12th 2013, BTS has open it’s new station Pho Nimit on the extension of silom line. This station is next to Wong Wian Yai, which used to be the last station of silom line on other side of the river.
Due to delay in the construction the next station Talad Phlu will open it’s door on Valentine’s Day on 14th February, 2013. Originally both of these stations supposed to start in end of the last year.
However there are two more stations are under construction and are excepted to open in mid or end of 2013. The next two station are Ratchaphurk and Bangwa. The last station of silom line is Bangwa and it is very near from back side or metro park sathorn. Currently all the residents of metropark who want to use the BTS has to travel to Krungthonburi and which takes 10 minutes to 45 minutes but when Bangwa will be opened, the traveling time will be 5 minutes to 15 minutes maximum. It will be also good to take a motorbike taxi for metro park sathorn.
Sometimes it seems the capital is full to the brim with new offices, condos and retail outlets, but key indicators suggest the building boom is nowhere near finished, though problems such as labour shortages might water growth down
Bangkok is far and away the country’s main property destination, and the majority of developers remain focused on the capital. As it has been for the past few years, the condominium market continues to be the most active sector, driven by changing demographics and the spread of mass transit. The other interesting sector is retail, which has changed a lot in the past five to six years due to the proliferation of community malls. Continue reading Still room to grow after a bumper year for industry
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