Bangkok property prices in the luxury segment of the market rose by 0.7 percent quarter-on-quarter (q-o-q) during the final three months of 2017.
On a yearly basis they rose by 5.7 percent.
In its Fourth Quarter Residential Index for Asia-Pacific, real estate firm JLL noted how new projects in Bangkok were generally well-received during the final three months of 2017.
From Q3 to Q2 JLL has previously reported no quarterly rise in Bangkok property prices, while from Q2 to Q1 they were reported as being 2.1 percent.
It is likely the q-o-q rise at the end of last year was down to Thailand property developers rushing to launch new projects before the end of the year.
The real estate firm highlighted how activity was more robust in what it described as the “affordable” sector, adding that many projects in the market saw sell-outs.
This research appears to be in line with other recent reports noting how the sub-THB 100,000 per sqm sector is the most active, creating possible concerns for many of the Thailand property developers that have, during the last 12 months, shifted their attentions to the higher echelons of the Bangkok property market.
ThailandPropery.News strongly believes there is only a limited market for properties with prices above THB 250,000 per sqm, and with a significant increase of available projects in this sector during the last two years, a saturation point may be very close.
As Bangkok’s mass-transit networks expand further from the city, property buyers and investors are already looking for cheaper properties, as this latest report indicates.
Bangkok’s q-o-q price rise was below that witnessed in Hong Kong (4 percent), Manila (3.2 percent) and Singapore (2.8 percent).
JLL defines the Bangkok luxury segment as all properties located in traditional prime locations.