Property Prices Up In Bangkok
According to a survey from the Real Estate Information Centre (REIC), part of the Government Housing Bank, Bangkok Real Estate prices have increased for the first six months of 2014.
Indeed, Bangkok condominiums prices went up by 4.7% while housing prices grew by about 3%. These percentages concern properties located in Bangkok, Samut Prakan, Pathum Thani and Nonthaburi only.
Condominiums with prices averaging between 50,000THB and 80,000THB/SQM recorded the highest increase rate with a 9% growth compared to the first half of 2013. Property prices below 50,000THB/SQM saw an increase of 7% while homes between 80,000THB/SQM and 120,000THB/SQM witnessed a 5.1% rise. However, high luxury condominiums prices have only risen by 2.1%.
From an overseas perspective, this may seem surprising but this is actually consistent with the fact that prices are not likely to drop after recent Thai military coup. In fact, Thailand has known numerous political crises in the past and property prices have never suffered from those events.