Sentiment among Thai residential property developers rose slightly in the final three months of last year, according to a survey by the Real Estate Information Centre (REIC) of the Government Housing Bank.
The Index stood at 55.4 points at the end of the year – up from 54.5 points during the previous quarter – on the back of increased demand for residential projects.
According to REIC Director General Samma Kitsin, the increase in confidence means property firms believe the market will do better in the first half of 2015 compared with last year.
REIC also reported that during the second half of 2014, overall home prices in Greater Bangkok increased by between 3 percent and 5 percent compared with the same period of 2013. Condominium prices recorded a 5.2 percent rise during Q4, REIC reported.
Condominiums in the central business district on Bangkok,including Huai Khwang, Phya Thai, Ratchathewi, Pathum Wan, Sathorn, Bang Rak, Watthana, KlongToei, Phra Khanong and Bang Sue saw the biggest price increases.
Prices of detached houses increased by 3.1 percent year-on-year, and townhouses by 3.7 percent according to the survey which assssed 166 property firms including 30 listed developers.
According to REIC a score above 50 indicates positive sentiment in the sector.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
