Single-house market sees robust growth

[snoop1130]

Single-house market sees robust growth

By THE NATION

 

Suwannee Mahanarongchai

 

The single-house market in 2019 witnessed "interesting growth", especially projects along Bang Na-Trad Road and in nearby areas such as Bangplee, Bang Sao Thong and Bang Bo, Plus Property deputy managing director of business strategies and asset management Suwannee Mahanarongchai said.

 

In the first half of the year, there were 6,500 units available for sale at these locations, and 88 per cent of them were snapped up. This compares to around 80 per cent in the past three years.

 

“The 88 per cent of sales was outstanding. It was higher than the 83 per cent average in Bangkok, showing that Bang Na-Trad Road and nearby areas are interesting locations,” she said.

 

Moreover, new supply increased in these areas – from 1,200 to 1,800 units per year – while yearly demand rose. 

 

“Also, the average absorption rate in the first half of this year was 3.68 houses per month – higher than the total market average of 2.82 houses per month,” Suwannee said.

 

The most popular price range for houses in these locations was Bt5 million to Bt7 million. In the first half, approximately 1,800 units were launched, with a sales rate of 95 per cent and an absorption rate of 5.41 houses per month.

 

“This absorption rate was higher than 3.33 houses per month of the total single-house projects with the same price rate in locations across Bangkok,” she said.

 

Other locations along Bang Na-Trad Road, such as the Si Waree Noi area, were also notable. Plus Property found that there were new Bang Na-Suvarnabhumi projects that were launched in the areas.

 

Along the highway, numerous mixed-use and shopping mall projects were also developed. 

 

They were Central Village, Market Village, King Power Srivaree, golf courts and hospitals, making the areas more lively compared to the past, when people needed to go into the city for working or shopping.

 

Source: https://www.nationthailand.com/news/30378769

 

-- © Copyright The Nation Thailand 2019-11-26

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[unamazedloso]

We talking about one single house? Whos house?...

Things look pretty flat really....

[RichardColeman]

Keep building them, keep building them. I have rented for the 4 years I have been here. When the bubble bursts I may pick a good one up for 100,000 baht !

[ivor bigun]

Our sons girlfriend sells new houses ,doing very well around the Pattaya ,Sri RAcha areas etc .

thats the problem here in Thailand ,they all want a NEW one not an old one where someone may have died . must say we looked in quite a few on her various estates ,all look lovely ,but small and <deleted> building ,overpriced .

[Srikcir]

On 11/26/2019 at 6:01 PM, snoop1130 said:

In the first half of the year, there were 6,500 units available for sale at these locations, and 88 per cent of them were snapped up

Great for sales commissions and developer profit.

Great for first time home owners.

But not so great for existing homes whose value will be suppressed by so many new homes coming into the market.