Bangkok condominium prices rose by 11 percent year-on-year, and by 2.8 percent quarter-on-quarter during the three months ending September 2018.
This latest research comes from the government-backed Real Estate Information Center (REIC), which attributed the condo price rises to the ongoing expansion of Bangkok’s mass-transit routes.
REIC noted that Bangkok metropolitan condominium prices increased by 11.7 percent year-on-year, and by 3.3 percent from the second quarter.
Condo prices in the suburban provinces of Nonthaburi and Samut Prakan were recorded by REIC as being up 8 percent year-on-year, and by 8 percent from the second quarter.
REIC added that the prices of new condo units located in projects that were launched during the period between July and September were higher than during the same period during 2017.
The top three locations that recorded the quickest price rises, according to REIC, and showing rises of more than 30 percent per year were along the Airport Rail Link (up by 35.7 percent), Pathumwan district (up by 34.9 percent) and Bang Sue (up by 33.5 percent).
Expat-favourite Sukhumvit saw condominium prices rise by 16.7 percent year-on-year, but strangely and without an explanation from REIC, declined by 10.9 percent quarter-on-quarter.
We think this could be attributed to a lack of new launches in this location, or possibly a decline of interest at the higher end of the Bangkok property market in favour or more suburban locations with cheaper prices.
This is the first piece of research to emerge that focuses on Q3 2018. During the coming weeks and months it will be interesting to note whether these new findings from REIC are repeated in other research papers.
Pictured: Potential buyers were few and far between at last weekend’s House and Condo Show in Bangkok.