Dec 17, 2012 | Comments 2
According to a report published by the CBRE Thailand Research team as part of CBRE Global Research and Consulting, prices and rents in Bangkok have risen in most sectors in 2012. The report was created by a group of consultants who are experts in the real estate market, economic forecasting and consulting solutions for real estate investors across the globe. Based on in-depth analysis of the Bangkok real estate market, the report produces a market view of each of the city’s property sectors.
In Quarter two of 2012, the number of newly finished residential units in the Bangkok Metropolitan Region (BMR) was 31,559, showing an increase of 42.8 percent quarter-on-quarter and 55.8 percent year-on-year. In addition, the number of developer-built single, detached houses increased by 1.1 percent quarter-on-quarter, but had decreased by 12 percent year-on-year, while the number of developer-built townhouses and shop-houses also decreased by 19.3 percent quarter-on-quarter and 8.0 percent year-on-year.
In the housing sector 31 new projects, totalling 7,813 units, were launched in the third Quarter of 2012, increasing from 28 projects, 5,861 units, in the second Quarter. In terms of property developers, Sansiri and Property Perfect claimed first place with regards to the launch of new housing units in the third Quarter of 2012. Sansiri launched 2,135 units across two projects, while Property Perfect launched 1,187 units across three projects. Western Bangkok proved to be the most popular area with regards to the newly-launched housing projects, particularly in the areas of Rattanthibet, Tiwanon, Chaengwattana, Pinkla and Ratchapruk.
In Quarter three this year, the total supply of condominiums in mid and downtown areas reached an estimated number of 328,299 units. It is estimated that 29 percent of these units are located in the downtown area, while 71 percent are located in the midtown area. In addition, nine projects were launched in Quarter three of 2012 in the downtown area, and the number of newly launched units increased from 808 units in the previous quarter to 5,372 units in this quarter. 57 percent of the newly launched units were had one bedroom, with 17 percent having two bedrooms. The overall occupancy rate increased to 77 percent in the third Quarter, with prices for new projects expected to rise due to the increasing cost of land.
In Quarter three of 2012, the total number of downtown apartment units decreased by 08. percent quarter –on-quarter, from 11,763 units in the last quarter to 11, 671 units this quarter. The total was also down by 2.4 percent year-on-year. This was largely due to one apartment building being demolished and another being converted into office space. Occupancy in Quarter three of 2012 increased from 88.3 percent in Quarter two to 88.6 percent, with a total of 10,380 units being occupied this quarter.
In the apartment sector, the area to achieve the best results and the highest achieved rents was the Central Lumpini locality, with Grade A rents of THB466 (US$15) per square metre, per month. These results for the area are down by 3.0 percent quarter on quarter, and up by 7.7 percent year-on-year.