Another day, and another prediction for the Bangkok real estate market for the year ahead.
Growth in both the number of units and the combined value, will rise by between 5 percent and 7 percent next year.
This is according to Phanom Kanjanathiemthao, the Managing Director of real estate agency Knight Frank Thailand.
He said this prediction corresponds with the views of major Thailand property developers who continue to view the Bangkok real estate market as one with growth opportunities.
Products, he said, should remain the same without any major changes in room layouts or unit sizes.
He said that property developers will instead look to enhancing project facilities to differentiate themselves and boost sales.
According to the real estate firm, the development of residential projects in the Bangkok real estate market next year will continue to focus on areas accessible by the train network, especially the Orange Line, Blue Line, and the extension of the Green Line.
The market will expand to the outskirts of Bangkok, with mass-transit making it convenient for people to travel into the city.
However, the expansion of the single home and townhouse markets in suburban Bangkok will be slow, with traffic issues hampering growth.
Knight Frank believes the market for ‘B’ and ‘C’ grade condos will continue to be mostly Thai buyers.
Condos in the Sukhumvit area will attract more foreign investors, such as those from China, Hong Kong, Malaysia, Singapore, and Taiwan.
Investors from other countries exist but in small numbers, Knight Frank noted.