Average prices of new condominiums in Bangkok rose by as much as 40 percent last year, according to the latest research published by Colliers International Thailand.
In Q4 alone, the agency reported that average prices jumped by 16 percent versus the previous quarter.
In its Bangkok Condominium Report H2 2013, the agency noted the main reasons behind the price rises were the increased cost of construction materials, labour shortages and rising land prices. It also noted how some luxury condominium projects launched with significantly higher prices last year, impacting average prices in the city.
Colliers also identified the areas around some BTS stations that are already operating along the new extension line, such as Wutthakat and Talat Phlu, have become hot locations for condominium development. This, it said, is due to increasing condominium prices in these locations combined with lower land prices when compared to the city area.
Many developers are scheduled to launch new condominium projects around those two stations, especially Talat Phlu, it noted.
Read the full research report from Collers here:
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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