More new Bangkok condos in 2018

The Thai Condominium Association has predicted there will a 5 percent increase in the number of new condominiums being built in Bangkok and its vicinity during 2018.

President of the Association, Prasert Taedunlayasathit, said large Thai real estate developers have jointly invested with foreign companies to buy land, especially along mass transit routes and in business districts.

Next year, he said, there will be new projects on these plots, leading to a 5 percent rise in the number of new Bangkok condos.

Bangkok condo prices during 2018 are also expected to rise by between 5 percent and 7 percent from this year because of increasing in land prices.

President of the Thai Real Estate Association, Phonnarit Chuanchaiyasit, said that during the last quarter of 2017, the volume of condominiums sold in Bangkok and its vicinity will be valued at around THB 110 billion to THB 130 billion following the Thai economic recovery.

Transportation projects, which will be completed during 2018, will also contribute to an increase in the sales of condominiums along mass transit routes.

He added that high-rise Bangkok condo prices are predicted to rise slightly, while low-rise condo prices will be stable – in line with construction material prices.