Condos in Bangkok and Pattaya

[Bazle 1,500]

Inner-City Bangkok

Seven condominium projects with 1,185 units complete in H1/09, leaving 44 projects with 11,890 units in various stages of development

69% of new completed supply were transferred to date with an average price fetching THB94,737/ sq.m in H1/09

Off-Plan prices rose 4% to THB125,910/ sq.m, but with a dramatic fall in sales volumes to just 430 units in H1/09

New launches reduced to just 447 units in H1/09, with 36.5% of these units reported sold by developers to date

 

Pattaya

Tourism numbers to Pattaya fell 16% in 2008, affecting property demand in a market where 50% of purchases are holiday homes

Prices of sold units reduced for first time in H1/09 to THB93,744/ sq.m, in response to switching demand from beachfront to more affordable urban properties

152 units complete in H1/09, as opposed to 6,000 units still under development. We anticipate most developers not being able to meet targeted completion dates

In H1/09, resale properties in Central Pattaya with rent paying tenants are selling at a yield of 5-7%

Thais led the Pattaya market, with a switch to younger buyers seeking holiday homes and solid investment returns

[aussielongboat 20]

Inner-City Bangkok

Seven condominium projects with 1,185 units complete in H1/09, leaving 44 projects with 11,890 units in various stages of development

69% of new completed supply were transferred to date with an average price fetching THB94,737/ sq.m in H1/09

Off-Plan prices rose 4% to THB125,910/ sq.m, but with a dramatic fall in sales volumes to just 430 units in H1/09

New launches reduced to just 447 units in H1/09, with 36.5% of these units reported sold by developers to date

 

Pattaya

Tourism numbers to Pattaya fell 16% in 2008, affecting property demand in a market where 50% of purchases are holiday homes

Prices of sold units reduced for first time in H1/09 to THB93,744/ sq.m, in response to switching demand from beachfront to more affordable urban properties

152 units complete in H1/09, as opposed to 6,000 units still under development. We anticipate most developers not being able to meet targeted completion dates

In H1/09, resale properties in Central Pattaya with rent paying tenants are selling at a yield of 5-7%

Thais led the Pattaya market, with a switch to younger buyers seeking holiday homes and solid investment returns

 

THB94,000/sq.m ???

that sounds simply wrong

would you be able to confirm.

[MM 6,562]

THB94,000/sq.m ???

that sounds simply wrong

would you be able to confirm.

 

Regarding the THB93,744/ sq.m in Pattaya, I agree as well. That's way higher than the average condo sqm rate. Maybe that's what they (Raimon) think they should be getting, but that's not what they are selling for...at least, not on average, especially if they are including switching demand from beachfront to more affordable urban properties

 

Maybe LordFlash could give us his take on this.