Strong growth expected for Bangkok condos

Condominium projects in Thailand will continue enjoying the highest growth among other kinds of property projects this year, according to one industry executive.
Samma Kittasin, Director of the Property Data Center, said condominium projects remained very attractive among potential buyers in the first quarter of this year as the number of condominium units whose ownership was already transferred totaled 60,000 units, more than double that of the same quarter last year. He said another 60,000 units are due to start up in the rest of this year.
Actually, many property developers planned to launch their projects in the second quarter, but had to postpone the inauguration due to the recent political turmoil. They are monitoring the economic situation in the third quarter of this year. Should the situation improve and return to normal, they will launch the construction of the 60,000 units in the fourth quarter, he said.
Mr Samma said the information gathered by the center showed the proper projects, particularly condominiums, which gain great popularity among consumers, are located in areas where there are mass transit systems.
Last year, projects, which are of interest among potential purchasers, are located along the Blue Line Bangsue – Tha Phra electricity train route, the Blue Line Hua Lampong – Bangkae route, the Red Line Bangsue – Rangsit route, the Green Line Berling – Rangsit route, and the Green Line Mor Chit – Saphan Mai route.
The number of condominium units sold in 2009 totaled 87,500 and those expected to be sold this year are projected to reach 189,000 units.