Third Quarter Housing Price Index Released

[Jai Dee]

BOT REPORTS 11.5% INCREASE IN PRICES OF SINGLE HOMES IN BKK AND GREATER BKK IN 3RD QUARTER

The Bank of Thailand has reported its housing price index for the 3rd quarter for Bangkok and its vicinity, where it has been found that prices of single homes have increased by 11.5% compared to the same period last year.

The BOT reported that the price index for single homes increased 11.5% whereas that for townhouses increased 5.9%, due to a rise in construction cost. The land price index grew 7.5%, especially for land located in Bangkhunthien (บางขุนเทียน), Bangkapi (บางขุนเทียน), and Bangphlee (บางพลี). Most homes included in the indexing were those in the lower price range to medium price range, located in 11 districts of Bangkok, 2 districts of Samut Prakan and 4 districts of Pathum Thani.

Provision of housing loans by financial institutes in the 3rd quarter amounted to roughly 1.177 trillion baht, an increase of 56 billion baht from the 2nd quarter. The bulk of the loans, 457.7 billion baht, rested with the Government Housing Bank.

Source: Thai National News Bureau Public Relations Department - 21 November 2005