New Residential Projects Fall by Half in Sept from Aug in Bangkok
According to a survey by the Agency for Real Estate Affairs, new residential-project launches in Bangkok in September dropped by 50% from the previous month in terms of number of projects, by 9% in terms of units and by 16% in terms of value.
AREA president Sopon Pornchokchai attributed the drop in launches to the strong rain, which flooded some areas.
The survey shows that only 22 new residential projects were launched in Bangkok and its suburbs last month, down from 44 in August. The number of units launched was 10,459, down from 11,486. New residential project launches in September were worth a combined Bt34.01 billion, down from Bt40.37 billion a month earlier.
Condominiums remained popular with 9,765 units launched in September, or 88.5% of total new residential launches, followed by townhouses (722 units or 6.9%) and detached houses (319 units or 3.1%).
Residences priced between Bt1 million and Bt3 million remain popular, accounting for 54% of new projects launched last month, followed by those priced between Bt3 million and Bt5 million (38%).