Price of condo units edge up 4.9 percent for first quarter

[webfact]

Price of condo units edge up 4.9 percent for first quarter



BANGKOK: -- The price of condominium units in Bangkok, Nonthaburi and Samut Prakan for the first quarter of this year has increased 4.9 percent compared to the same period last year with the price of mid-range condominium units priced between 80,000-120,000 baht per square metre going up by an average of 5.6 percent.

According to the real estate information centre of the Government Housing Bank, the price of condominium units priced above 120,000 baht per square metre has adjusted up 4.8 percent for the first quarter compared to the same period last year. The price of condominium units in the range of 50,000-80,000 baht per square metre has increased 4.3 percent.

The top five locations where condominium units have fetched higher prices this year are Sukhumvit, Phaya Thai-Ratchathevi, Nonthaburi, Silom-Sathorn and Bangrak.

However, the price increase rate for the first quarter of this year is still lower than the rate registered in the fourth quarter of last year which averaged 5.1 percent.

The price increase was attributable to the fact that the condominium buildings, especially the upper mid-range, are located in close proximity to mass transit stations.

The price of single houses in Bangkok, Nonthaburi and Samut Prakan for the first quarter increased by an average of 1.7 percent compared to the same period last year.

Source: http://englishnews.thaipbs.or.th/content/158946


-- Thai PBS 2016-04-11

[balo]

[WilliamCave]

The price of condos and rentals have when up considerably around Bang yai area because of the skytrain and Central Westgate

i looked at the price about 2 years ago on some shop houses and they have almost jumped double in price not worth it in my opinion

Thais over inflate every thing around the area

my wife bought here shop house behind central wesgate a few years ago and we fully renovated it I am not sure the value of it now and have no intention of selling

it is only worth what some one is willing to pay for it

[sharecropper]

Prices may have gone up - but I bet sales have gone down.

[shirtless]

I love fiction.

[Pinot]

I don't know about Bangkok but I suspect this is bullshit.

Don't anyone confuse reports of rising prices with real estate in Phuket. The housing market here is a disaster that continues to grow by the day.

[alfalfa19]

Great spam, perhaps to stimulate interest in the fantastical New Nordic Group?

[Srikcir]

The price increase for new condominium units is good news --- for existing condo owners!

[trogers]

Prices may have gone up - but I bet sales have gone down.

I suspect this report has referred to launching prices of new projects, and not actual buying and selling prices in the secondary market.

The difference between launch prices, and those in the secondary market is deliberately kept a secret so as not to rock the boat and break the rice bowls of property professionals.

[rijit]

Prices may have gone up - but I bet sales have gone down.

I suspect this report has referred to launching prices of new projects, and not actual buying and selling prices in the secondary market.

The difference between launch prices, and those in the secondary market is deliberately kept a secret so as not to rock the boat and break the rice bowls of property professionals.

Yep sounds about right.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

[ggt]

The cost of obtaining a condo to commit suicide has just increased...

[ratcatcher]

The cost of obtaining a condo to commit suicide has just increased...

So, not only a jump in prices then?

[TheCruncher]

A friend of mine just went for a condo in Centric Sea in Pattaya. I know it isn't Bangkok but it is one of the so called sought after condo's in this area.

The Condo is on the 17th floor size 35.33sqm with 1 bedroom and has seaview. 3 months ago the condo was offered at 112,992 Bht/sqm.

Yesterday the same condo, which hasn't been sold yet however the building was completed some 6 months ago, was offered to my friend for 83,000 Bht/sqm.

[trogers]

A friend of mine just went for a condo in Centric Sea in Pattaya. I know it isn't Bangkok but it is one of the so called sought after condo's in this area.

The Condo is on the 17th floor size 35.33sqm with 1 bedroom and has seaview. 3 months ago the condo was offered at 112,992 Bht/sqm.

Yesterday the same condo, which hasn't been sold yet however the building was completed some 6 months ago, was offered to my friend for 83,000 Bht/sqm.

That's why I said the report is based on launch prices.

Your example is for prices of resale units, which are at least a few years after project launched. Resales units are those units booked, but never able to be transferred.

[mike324]

Thais are pricing their own future genreation out of house ownership...

[rijit]

A friend of mine just went for a condo in Centric Sea in Pattaya. I know it isn't Bangkok but it is one of the so called sought after condo's in this area.

The Condo is on the 17th floor size 35.33sqm with 1 bedroom and has seaview. 3 months ago the condo was offered at 112,992 Bht/sqm.

Yesterday the same condo, which hasn't been sold yet however the building was completed some 6 months ago, was offered to my friend for 83,000 Bht/sqm.

Big Smile and offer them 50.per sqm.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

[Baxer]

Thais are pricing their own future genreation out of house ownership...

No problems, there will be a big crash soon in the real estate market so you can bye a condo for nothing.

I did read that here on Thaivisa over 10 years ago, so it must be true.

[SABloke]

A friend of mine just went for a condo in Centric Sea in Pattaya. I know it isn't Bangkok but it is one of the so called sought after condo's in this area.

The Condo is on the 17th floor size 35.33sqm with 1 bedroom and has seaview. 3 months ago the condo was offered at 112,992 Bht/sqm.

Yesterday the same condo, which hasn't been sold yet however the building was completed some 6 months ago, was offered to my friend for 83,000 Bht/sqm.

Big Smile and offer them 50.per sqm.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

Will never work. Unless a Thai person is desperate for cash they'll rather not ''lose'' money. If a person owns multiple properties then your chances are slim.

One example: There's a condo for rent in my building that I want to move to. Asking price is 25 000 (Because that's the price of some similair condos in the vicinity...forget about the fact that those other condos being 20 years younger.) Anyway...I told the owner that I'd be willing to pay 20 000 (which is a fair realistic price). I made this offer 14 months ago...I went back at the beginning of the year. Answer is still ''no'', condo is still empty. Reason: Owner doesn't want less than what he THINKS he deserves. If he had taken my offer he COULD have had 240 000 Baht income last year, but HE WANTED 300 000 and in the end what he REALLY GOT was zero

[TheCruncher]

A friend of mine just went for a condo in Centric Sea in Pattaya. I know it isn't Bangkok but it is one of the so called sought after condo's in this area.

The Condo is on the 17th floor size 35.33sqm with 1 bedroom and has seaview. 3 months ago the condo was offered at 112,992 Bht/sqm.

Yesterday the same condo, which hasn't been sold yet however the building was completed some 6 months ago, was offered to my friend for 83,000 Bht/sqm.

Big Smile and offer them 50.per sqm.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

This is new condo straight from developer.

[rijit]

A friend of mine just went for a condo in Centric Sea in Pattaya. I know it isn't Bangkok but it is one of the so called sought after condo's in this area.

The Condo is on the 17th floor size 35.33sqm with 1 bedroom and has seaview. 3 months ago the condo was offered at 112,992 Bht/sqm.

Yesterday the same condo, which hasn't been sold yet however the building was completed some 6 months ago, was offered to my friend for 83,000 Bht/sqm.

Big Smile and offer them 50.per sqm.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

Will never work. Unless a Thai person is desperate for cash they'll rather not ''lose'' money. If a person owns multiple properties then your chances are slim.

One example: There's a condo for rent in my building that I want to move to. Asking price is 25 000 (Because that's the price of some similair condos in the vicinity...forget about the fact that those other condos being 20 years younger.) Anyway...I told the owner that I'd be willing to pay 20 000 (which is a fair realistic price). I made this offer 14 months ago...I went back at the beginning of the year. Answer is still ''no'', condo is still empty. Reason: Owner doesn't want less than what he THINKS he deserves. If he had taken my offer he COULD have had 240 000 Baht income last year, but HE WANTED 300 000 and in the end what he REALLY GOT was zero

Yep same.all over the world, no doubts he'll have his calculator out, next time he MIGHT be so quick to say no. And this is a new unit, with developers, it'll be different, the money will just go into a pot and bring the average sm price down marginally, no biggie.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

[huahinjoe]

Anybody looked the newer 2 bedroom condos are getting smaller, 5-10 year ago they used to be 70sqm, then few year ago come around 55-60sqm, now the latest ones are bloddy 45sqm for a 2bed shoebox, meanwhile prices going up and in about 5-10 years these condos will be considered old leaving the loan paying poor Somchai spending 2x amount including the 30y profit the banks make on them, sounds like a great deal...

PS: nobody buy much 2nd hand condo because prices not that attractive, they quickly look run-down as people move in and the new ones preferred by the banks to approve credit as they make deals with the developers to offer the new exclusively...

[trogers]

Anybody looked the newer 2 bedroom condos are getting smaller, 5-10 year ago they used to be 70sqm, then few year ago come around 55-60sqm, now the latest ones are bloddy 45sqm for a 2bed shoebox, meanwhile prices going up and in about 5-10 years these condos will be considered old leaving the loan paying poor Somchai spending 2x amount including the 30y profit the banks make on them, sounds like a great deal...

PS: nobody buy much 2nd hand condo because prices not that attractive, they quickly look run-down as people move in and the new ones preferred by the banks to approve credit as they make deals with the developers to offer the new exclusively...

I am waiting for that world record breaking 12 sqm one-bedroom and 20 sqm two-bedroom. Perhaps just a wait for another 8-10 years...