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