the new condos are up in price because of workers wages and the rising costs of building supplies and the land

add this to the old condos and magically the mean price is up

but the market might be able to sell some of the new ones but there is an issue with the second hand market

also another issue exists with the 49% ratio - maybe Thais on the 51% side might be able to pay 200K upwards per SQ M but a lot of foreigners might balk at it.

Off subject 36 000 condos being built in Pattaya area and all agents I have talked to say no sales - possibly due to EU, USA, UK on the brink of disaster?

Bangkok being the strongest performer where prices grew by 29 percent but many recent reports have highlighted that

Bangkok’s prime property prices remain cheap by global standards. The report ranks the Thai capital in 51st place with an average price of US$6,500 per sqm for prime residential property.