Condominium Market Likely To Continue Growing This Year

[george]

Condominium market likely to continue growing this year

BANGKOK: -- The market for condominium's in the Thai capital is likely to continue growing this year despite being affected by many negative factors, according to an industry executive.

Athip Preechanont, president of the Thai Condominium Association, said the overall property business, particularly regarding single homes and townhouses, has been affected by political uncertainties, economic slowdown, and high inflation in the first half of this year.

However, the condominium market continued to grow in the second quarter and at present.

Its total sales for the whole year are expected to increase by 20 per cent to about 25,000 units while sales of townhouses totalled some 10,000 units.

He said more prospective homebuyers had given a priority to housing projects in urban areas and near their office.

Condominiums with a unit price of no more than 3 million baht located along the BTS Skytrain and the Bangkok Metro (MRT) underground rail routes remain popular.

Mr. Athip suggested the prospective buyers not hesitate to invest in new residences from now until year-end because the tax incentives offered by the government to boost the property business growth still exist and interest rates remain low.

He conceded property developers are still concerned and uncertain about higher costs although oil prices had dropped to a certain extent.

Mr. Athip said the association expected the government would give importance to preventing impacts from the US financial crisis on Thailand's economy.

The government should accelerate investing in mega-projects, including construction of electric mass transit rail routes because it could help restore confidence among the private sector and foreign investors, he added.

-- TNA 2008-09-30

[cclub75]

Indeed. The market is healthy. Growth this year, the year after, after after, global, universal and eternal : growth. G-R-O-W-T-H

The stupidity of those cheerleaders is so ingrained, so deep, that they could continue to repeat exactly the same words, the same sentences, over and over, even if Bangkok was burning.

GROWTH.

More condos. More. Growth. Condos. Everywhere. Prices to the moon. Growth.

At that point, it's even beyond stupidity : we are in sect territory !

[midas]

Indeed. The market is healthy. Growth this year, the year after, after after, global, universal and eternal : growth. G-R-O-W-T-H

The stupidity of those cheerleaders is so ingrained, so deep, that they could continue to repeat exactly the same words, the same sentences, over and over, even if Bangkok was burning.

GROWTH.

More condos. More. Growth. Condos. Everywhere. Prices to the moon. Growth.

At that point, it's even beyond stupidity : we are in sect territory !

Mate is there anything than stop the Bangkok condo market- is it totally invincible?

[OlRedEyes]

Indeed. The market is healthy. Growth this year, the year after, after after, global, universal and eternal : growth. G-R-O-W-T-H

The stupidity of those cheerleaders is so ingrained, so deep, that they could continue to repeat exactly the same words, the same sentences, over and over, even if Bangkok was burning.

GROWTH.

More condos. More. Growth. Condos. Everywhere. Prices to the moon. Growth.

At that point, it's even beyond stupidity : we are in sect territory !

Well put.

The real living god - Growth

[bkkjames]

I am waiting for CBRE to chime in with their update assessment.

Something like...

"Despite the global financial meltdown and bleak outlook, condominium sales in Thailand should remain strong because of the pent up demand for units along the bts and mrt. For smart shoppers, this could be a good time to take advantage of the situation and we therefore believe that prices will continue to move upwards. There is no better time to buy."