Bangkok Luxury Residential Market Stable

6 ธ.ค. 2560

Bangkok Luxury Residential Market Stable In 2017, Could Be Challenging Next Year

This year saw developers in the luxury residential segment compete strategically with their existing products while also coping with a changing resale market. Despite this, domestic stability allowed developers and investors to feel positive about the real estate market in 2017, according to experts.

Several luxury condo projects were completed during the 2nd half of 2017 including 98 Wireless, Magnolias Ratchadamri, and the Ritz Carlton Residences Mahanakorn which all made global headlines. The 3 high-rise projects all set unique price benchmarks and have likely changed the super luxury market in Thailand forever.

“The take up rate for 2017 luxury condos remains healthy due to limited supply and level of quality. Investors are particularly interested in Bangkok’s “Trophy Properties” the term refers to residences, architecturally or historically preserved properties that have extraordinary yields, with spectacular views, or other extraordinary amenities,” says Marciano Birjmohun, Associate Director at Knight Frank Thailand, to Luxury Society Asia.

Luxury condo units are popular with both domestic buyers and overseas investors. The latter group has been active in the luxury condo market since 2014 where they found attractive pre-sales prices for upscale developments. The units have seen significant capital gain, as much as 30%, due the land value increases in Bangkok’s CBD areas.

”A selection of the luxury supply has been launched by fairly new players on the high end market. These new players kept the momentum going and created a visible presence on the luxury condominium market. The banks of the Chao Phraya River, low to mid Sukhumvit road, and Sathorn remain concentrated areas for luxury supply due to connectivity, preferable neighbourhood infrastructure, and lifestyle amenities,” says Marciano.

This year was solid, but 2018 could be a challenging year for the luxury residential market as a large amount of supply will still be available. Developers are expected to focus on overseas activities since the uptake of overseas buyers has been increasing, according to Knight Frank.

Receive the latest property news on email from Thailand’s No.1 property website here, or read more project reviews


ข่าว-บทความอื่นๆ ที่คุณอาจสนใจ

Luxury Real Estate Is A Seller’s Market

Upscale real estate is still a seller’s market around the world, shows research in the annual Global Luxury Real Estate Report by Luxury Portfolio International. There are currently more buyers than

อ่านต่อ5 ต.ค. 2560

J.S.P. Property Latest Developer To Target Luxury Property

The latest real estate developer to enter the high-end market is J.S.P. Property Plc after the company revealed that it is launching a high-end housing complex in 2018, reports local media. The develo

อ่านต่อ23 พ.ย. 2560

Singha Estate and Hong Kong Land To Develop Luxury Project

Singha Estate Plc has announced a partnership with Hong Kong Land that will see the pair develop a luxury low-rise condo on Sukhumvit Soi 43, reports local media. The project is valued at THB2 billion

อ่านต่อ5 ธ.ค. 2560