Luxury apartments in Thailand price report

While the values of condominium
property in Thailand’s capital Bangkok continue to rise, a new report has found
that some types of property are seeing more significant price increases than
others.

Luxury overseas homes in Bangkok
are seeing a higher rate of price increase than smaller properties – great news
for investors looking to buy a luxury property in Thailand.

Prices of luxury apartments in Thailand hit record highs

The latest market report from
property consultants CBRE has found that there have been significant price
increases at the top end of the Bangkok condominium market.  And, it is a lack of supply of two and
three bedroom properties that is responsible for this.

The company says that prices of
luxury property in Thailand have hit record levels, although these price
increases are not the same on smaller properties.  Many developments of smaller one bedroom condominiums have
not sold out and price rises have been more muted.

Aliwassa Pathnadabutr, managing
director of CBRE Thailand, said: “Generally the best performing projects have
been those closest to transit stations. 
In some areas the one bedroom sector is going to come under pressures
from developers unsold inventory and shadow inventory from units bought by
speculative buyers who want to resell before completion.”

The prices of middle and entry
level condominiums have adjusted upwards but to a less extent than in the
luxury market.  “There continues to
be new launches in this sector although the absorption rate is slower compared
to two years ago when many projects tended to sell out at launch. The top
developers dominate this segment of the market,” explained Pathnadabutr.

The CBRE report concludes that
more and more people are accepting condominium living in Bangkok and that
demand remains strong, particularly in areas near transit stations and in
densely populated areas where supply is restricted.