Srinakarin has been identified as the best area for property price appreciation during the last six months, according to a survey by the Agency for Real Estate Affairs (AREA).
The firm looked at more than 1,600 projects in Bangkok and its vicinity, and as of the end of June it spotlighted townhouses in the Srinakarin area near the Makro store as being one of the best investments. It noted that prices have increased by 10 percent in the first six months of the year – from average prices of THB2.014 million to THB2.224 million.
It also highlighted condominiums in the Bearing area near Wat Dan where average selling prices are also up around 10 percent – from THB1.626 million to THB1.794 million. Average condo prices in Phra Nakhon area were also recorded as performing well – up from THB3.530 million to THB3.893 million.
The best-selling location during the first six months of this year, as reported by AREA, was Bang Phlat where condos priced between THB1.01 million and THB2 million could close 100 percent of sales within just one month.
The area around Bangna Trad km 10-30 also performed well, with condos priced between THB1.01 million and THB2 million closing 61 percent of sales in one month. The Sukhumvit- Rama 4 area was also highlighted, where condos priced between THB3.01 million and THB5 million could record sales of 30 percent in one month, while condos priced from THB5.01 to THB10 million could close 29 percent of sales within 30 days.
AREA also reported areas where prices have declined.
It noted the Watcharapol-Kubon area where prices of single detached houses have declined from THB14.9 million to THB12.7 million. Prices of twin houses in Sai Noi-Suphanburi have also seen a decline from THB3.5 million to THB3.15million,
Average prices of twin houses in the Nong Khaem area have also dropped from THB2.87 million to THB2.584 million. In this area, AREA noted, there are cheaper townhouse projects on sale, and that’s why the sale of twin houses has not been successful.
Dr. Sopon Pornchokchai, President of AREA, said that within the same area prices of similar type of property can be different, as it depends on the pricing strategy of each developer. If developers have products that match current demand they will be successful, he predicted.
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