Property resale prices in some of Bangkok’s popular condominium developments have risen astronomically since their launches, according to data released by CBRE ahead of its Elite Living event in Bangkok, which runs until May 31.
Recently the real estate firm handled a transaction at The Park Chitlom, which has seen an almost 100 percent rise in price since its launch 11 years ago. At launch in 2004, the average prices for units at the development were THB110,000, and last year a unit was sold for THB215,376.
Price increases such as the one above are not unique
Also launched in 2004, Athenee Residences saw launch prices averaging THB120,000 per sqm. Last year CBRE handled a transaction for one unit and obtained a sales price of THB224,508.
Even projects launched more recently have seen healthy increased from launch prices.
Raimon Land’s 185 Rajadamri launched in 2011 with average prices of THB220,000 per sqm, and in 2014 CBRE handled one sale for THB292,582.
Based on the CBRE data, location and quality appear to be the key ingredients for making substantial capital increases when re-selling prime Bangkok property.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
