Bangkok luxury sector prices are stagnant: agency

Bangkok luxury sector
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One day following the release of data showing Bangkok prime property prices are declining, another report has noted there was no change in Bangkok luxury sector prices between the first three months of the year and the previous quarter.

Year-on-year, prices in the Bangkok luxury sector rose 2.9 percent, possibly implying that prices are right now at their highest, given there has been no rise during the first three months.

Real estate firm JLL, in its Residential Index report covering the first quarter of 2018, was slightly more upbeat that previous reports covering the Bangkok luxury sector.

It noted that buyer demand for Bangkok luxury property remained healthy, with high sales levels recovered against newly-launched projects.

It also noted that some 7,000 units are scheduled to be completed in Bangkok during the next 12 months, and most of these will be in the luxury sector.

Hong Kong recorded an impressive 3.8 percent quarter-on-quarter rise in its luxury property sector. Singapore was not far behind with a 2.8 percent q-o-q rise.

The worst-performing market of those surveyed in this report was Jakarta with a 2.6 percent q-o-q drop in prices in its luxury property sector.

In summary about the Bangkok luxury sector, JLL said: “Given the firm economic outlook, healthy buyer demand should see pre-sales rates rise further.”

All the research reports for the higher end of Bangkok’s property market indicate prices are not rising at best and declining in most cases.

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of Andrew has been writing about property and real estate issues in Thailand and Southeast Asia for more than 10 years. He has worked for PropertyGuru Group, DDproperty, Dot Property Group, Hipflat and AsiaRents. He has also produced content for leading Thailand property developers and real estate agencies.

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