Luxury condo prices up more than 10 per cent in Bangkok

Despite the fact that only 17 per cent of luxury condo projects surveyed last year in inner Bangkok were sold, prices per square metre were up 11.5 per cent.

A survey of luxury developments in Phloenchit, Chidlom, Pathumwan and Ratchathewi in December showed prices have risen to THB145,000 (US$4,631) per metre, according to real estate consultancy Agency for Real Estate Affairs (AREA).

Out of 2,357 units built last year, 404 were sold, leaving 1,953 available, but AREA’s president, Sopon Pornchokchai, told reporters that he expects these units will be taken up within 10 months.

The Bangkok Post reported that Sopon said prices rose by 3.6 per cent for the six-month period from June 2011, but the return on investment for the whole year was in the double digits. The company reported 1,683 luxury condominium units were sold during the first half of 2011, but sales dipped in the second half. No location was given for those numbers.

 



Filed Under: NewsNews by CountryThailandUncategorised

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