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
Condo prices leap 48% since 2009
Housing supply nears surplus in some areas
Prices of condo units in Greater Bangkok have skyrocketed by 48% on average over the past four years, while those of townhouses and single houses rose by 36% and 25% respectively, according to a survey by SET-listed developer Sena Development Plc.
Six locations where the company found continuing increases in condo prices were Kae Rai-Laksi-Ram Intra, Bang Sue-Nonthaburi, Ratchada (Lat Phrao-Makkasan), On Nut-Bearing, Bang Na-Suvarnabhumi and Taksin-Bang Wa. Continue reading Condo prices leap 48% since 2009
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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The new Pho Nimit and Talad Plu BTS skytrain stations will open for public use in mid-January 2013 instead of Dec 5 as earlier planned, deputy Bangkok governor Teerachon Manopaiboon on Tuesday.
Pho Nimit and Talad Plu stations are new additions to the Silom line, section Sapan Taksin-Petchkasem.
Mr Teerachon said Independent Engineers (ICE) inspected the stations and facilities and said they are not ready for full operation.
However, the schedule for two more stations, Wutthakat and Bangwa stations, continuing from Talad Plu station will still open on Aug 12 next year, said Mr Teerachon.
He said for the last two stations, Bangkok Mass Transit (BTS) will have to coordinate with Mass Rapid Transit (MRT) because their expansion projects will be in the same area.
Optimism beginning to return after last year’s calamity but new flood fears have buyers and sellers on edge.
Bangkok’s second-hand housing market has improved considerably after struggling in the wake of last year’s heavy floods. There is still lingering uncertainty about how the capital will deal with the 2012 flood season, but if no major calamities occur, the resale residential market should be fully back to normal next year.
Thais are more willing to buy old houses first and demand is growing after last year’s floods. But the market still remains edgy until buyers see how floods this year are handled. Continue reading Second-hand market steady