Late last week one real estate firm issued its latest research report.
It was picked up by Thailand’s two mainstream English language media outlets who used the headlines above, but we believe they have missed the major part of this research.
In our opinion the biggest talking point in Knight Frank’s Condominium Outlook for Q1 2018 report, and as shown in the graph here, is the significant contraction of prices in the central areas of Bangkok.
The real estate firm attributed the decline to the fact that new projects launched in central Bangkok were in less prominent areas and had lower grade specifications.
The references to the popularity of mass-transit in the English media headlines actually refers to the agency’s findings for last year, where the Light Green and Blue lines were noted to be the most popular locations based on sales rates.
The other major factor happening during the first three months of 2018, Knight Frank said the Thailand property developers were increasingly moving to Bangkok’s suburban areas where prices were rising.
Knight Frank said that the market outlook for suburban areas and around the Central Business District is that both locations have opportunities for growth in terms of product, price and consumer response.
This, it said, is especially true for projects near no more than a five-minute walk from a mass-transit station.
“It is worth watching new project pricing, to see whether average prices per sqm of condominiums in the CBD would be higher or lower than during the previous year.”