Prices of homes in Greater Bangkok rose across the board during the first six months of 2014, according to a survey published by the Real Estate Information Centre (REIC), part of the Government Housing Bank.
According to the report, condominium rises rose by an average of 4.7 percent while housing prices overall increased by 3 percent. Surveyed condominiums were located in Bangkok, Samut Prakan, Pathum Thani and Nonthaburi, according to the report.
Dr. Samma Kitsin, Director-General of REIC, told reporters in Bangkok yesterday that when compared to the levels seen in the first half of 2013, the prices of condominiums with average prices of between THB50,000 and THB80,000 per sqm recorded the highest percentage increases – at 9 percent.
Homes with prices below THB50,000 per sqm saw a 7 percent increase while those with prices of between THB80,001 and THB120,000 per sqm saw a 5.1 percent rise.
Luxury condominiums, according to the report, saw a 2.1 percent increase.
Prices of single homes in the Thai capital rose by 3 percent while those in other provinces saw slightly higher increases at 3.3 percent.
News of property prices increases in the run-up to the military intervention at the end of May will likely come as a surprise to many unseasoned Thailand market watchers, however the facts regarding previous periods of political instability show that property prices will not decline as a result of these kinds of action.
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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If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg