Bangkok property market is ‘worsening’

Bangkok property market
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Thailand’s Agency for Real Estate Affairs (AREA) has issued a stark warning about the state of the Bangkok property market.

Dr. Sopon Pornchockchai, the Chairman of AREA, said that the “… market situation is worsening over time.”

He issued the warning, adding that information provided by “some property information centres in Thailand tries to distort the situation.”

AREA found a 14 percent decline in the number of new project launches during the first three months of the year compared with the same three-month period last year.

The number of units was also down by 13 percent.

Without defining a reason, AREA said prices in the Bangkok property market during the same period rose by 25 percent on average, and now stand at THB 4.28 million per unit.

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of www.thailandproperty.news. 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.
Email: andrew.thailandpropertynews@gmail.com.

2 Comments

  1. Kevin, thanks for your comment.

    http://www.area.co.th is the source of this story, and to date I have not got a reply to my email asking for more information. I am assuming that the reference is to the fact that most research is only based on internal information from the source of that research and therefore not representative of the whole market.

    Thanks again,

    Andrew.

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