With nine of every ten new launches during Q2 2017 in Bangkok happening in the centre of the city, recent research reports that prime property prices only rose by 0.3 percent during the three months ending June 2017 will be worrying news for some Thailand property developers and real estate agencies.
In the twelve months to the end of June they rose by 0.5 percent.
The Knight Frank Prime Global Cities Index, which tracks the movement in luxury residential prices across 41 cities worldwide, climbed by 4.4 percent overall in the year to June.
Prime property corresponds to the top 5 percent of the housing market in each city in this research report.
Although Guangzhou leads the rankings with luxury prices up 35.6 percent in the 12 months to June 2017, all three Chinese cities tracked by the Index recorded a decline in annual growth compared with the rate seen last quarter.
Beijing recorded the largest drop – down from 22.9 percent year-on-year in March to 15 percent annual growth this quarter.
In Toronto, another city feeling the effect of new regulations, at first glance the rate of 20.7 percent annual growth suggested a level of resilience, but quarterly figures show a slowdown.
Cities in Asia, Russia and the CIS accounted for ten of the 17 cities that saw their rate of annual growth decline compared with the previous quarter. Conversely, cities in Europe and Australasia were well represented within the group that have seen a rise in their annual rate of growth compared with the first quarter.