Samut Prakan province, just south of Bangkok on the Gulf of Thailand coast, saw the highest year-on-year condo price rises in the Bangkok metropolitan area.
New research from Thailand’s Real Estate Information Center (REIC) revealed that condo prices in Samut Prakan rose by an impressive 20.9 percent year-on-year for the 12 months ending December 2017.
The rise is more than likely due to the planned extension of Bangkok’s mass-transit network.
According to REIC, the other leading year-on-year condo price increases in condo prices in the fourth quarter were seen in Pathumwan (20.3%), middle Sukhumvit (20%), lower Sukhumvit (18.2%) and Huai Khwang-Chatuchak-Din Daeng (18%).
The REIC also noted that prices were increasing throughout Bangkok in both price brackets.
Condominiums priced at more than THB 200,000 per sqm saw the highest increase in selling prices at between 10 percent and 12 percent.
Ranked second were condos prices at below THB 50,000 per sqm, which saw price rises of between 2.9 percent and 3.9 percent.
The only price bracket to witness price declines, according to the REIC, was units priced at between THB 50,000 per sqm and THB 80,000 per sqm, which saw a drop of between 1.5 percent and 3.5 percent.
The REIC was established by the Thai government in 2004 and operates under the Government Housing Bank (GHB).
Geographically speaking we only have the top five locations for price increases. There will be parts of the Bangkok metropolitan district that have not seen price increases, and we will do our best to discover which ones they are.