By Andrew Batt:
Property developers in Thailand launched more housing projects in Bangkok and surrounding provinces in July than in a month earlier, according to data from the Agency for Real Estate Affairs.
A total of 36 new housing projects, valued at a combined THB 20.2 billion were added to the Bangkok property market in July, compared to 27 the month previously
Townhouses accounted for half out of 6,689 new units in the month, while condominiums make up 34 percent of the total. Single-detached houses represented 11 percent.
Around 56,242 new units, valued at THB 151.1 billion entered the market in the first seven months, and the agency forecast a total 96,415 new units for the full year 2012, worth THB 259 billion, up 13 percent from 2011, it predicted.
Developers have resumed construction after Thailand’s flood crisis in the fourth quarter widely brought down their activities. Key developers in the month included Pruksa Real Estate, SC Asset, Lalin, Asian Property Development and Sansiri, the agency reported.
The property sub-index on the Stock Exchange of Thailand has risen 29.8 percent so far this year, outperforming to broader 19.3 rise of the Stock Exchange as a whole.
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