A record number of condominiums will be launched in Thailand this year, according to the latest research from the country’s Real Estate Information Centre (REIC).
This year will see between 70,000 and 75,000 high –rise units launched, well ahead of the 63,000 units that came to market in 2012.
Samma Kitsin, Director-General of REIC, noted the real estate market in growing by between 5 and 10 percent every year, driven largely by new mass transit projects.
He added that the growth in new units will not induce a bubble as prices of new condominiums tend to fall as a result of stronger competition, and the market were developers use price as a strong marketing tactic. Higher household debt is also discouraging speculation in the market, he added.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote
this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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