Bangkok sees a rise in apartment occupancy

There is a positive move in Bangkok’s apartment market. According to propertyshowrooms.com the occupancy rate of apartments in Bangkok has “climbed in the final quarter of 2011 despite the supply of this kind of residence increasing.” The rate is in comparison to the previous three-month period and research by CB Richard Elllis (CBRE) Thailand shows a rise to 89.5 per cent. This rise was at the end of the year and was up from around 85 per cent in the third quarter. In the downtown area of Bangkok a year-on-year rise of 3.6 per cent in the number of apartments available was recorded.

Condominiums have not seen the same favorable statistics. The vacancy rate of this area of development has been increasing with supply also rising. Century21 and the architecture and planning faculty at Thammasat University recently conducted a poll on factors taken into consideration while apartment hunting. The polls results configured that 34 per cent of respondents will take the likelihood of flooding into consideration when selecting a home. This is due to the last year’s flooding when parts of Bangkok were severely affected by rising water levels. In turn, this may cause and increase of demand for apartments and condominiums. Finally, investors looking to enter the Thai real estate market have been advised to focus less on condominiums and more on plans for new apartments.

 



Filed Under: NewsNews by CountryThailand

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