Logo of Phnom Penh Post newspaper Phnom Penh Post - Bangkok property project launches rise 11% in H1

Bangkok property project launches rise 11% in H1

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Property project launches in Bangkok put 55,596 units on the market in the first half of this year. PRERM RUAMRUDEE/THE NATION

Bangkok property project launches rise 11% in H1

Some 219 property projects were launched in the first half of this year in Bangkok and its surrounding areas, an 11.2 per cent increase from the same period last year, the Agency for Real Estate Affairs (Area) reported last week.

The launches put 55,596 units on the market, with a total value of 221.5 billion baht ($7.2 billion), up 18.6 per cent and 15.4 per cent, respectively, from the year-earlier period.

Up to 211 of the new projects in the first half are residential, including condominiums, single detached houses, and townhouse. The other eight projects are for commercial buildings, the research said.

The average residential price was 3.96 million baht per unit, up one per cent from the end of last year, the research said.

AP (Thailand) Plc led the way on the first-half launches with 5,135 units worth 27.27 billion baht, followed by Pruksa Real Estate Plc with 3,755 units worth 13.66 billion baht, and Supalai Plc with 1,983 units worth 18.73 billion baht.

The inventory of townhouses on June 30, 2019, was 61,541 units, down 2.7 per cent from the end of last year.

Meanwhile, the inventory of single detached houses on June 30 was 61,541 units, down 2.5 per cent from the end of last year.

Condominiums recorded a total inventory of 88,788 units at the end of last month, falling 8.5 per cent from the end of last year.

In view of the market in the first half of this year, Area forecasts the property market this year will drop 16 per cent compared with last year, when demand had slumped. THE NATION (THAILAND)

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