Economic growth remained slow in Thailand during the second half of 2015, however the city saw strong demand for prime Bangkok central business district sites, and prime income-producing properties continued to perform strongly.
But in the latest market research report covering activity in Bangkok during the second quarter of this year, there is a very limited supply of suitable sites and income-producing properties being offered for sale.
Condominium developers continued to concentrate on the downtown area of Bangkok, with CBRE reporting that listed property developer SC Asset paid a record price of THB 1.9 million per square wah – equal to US$ 13,970 per sqm) for a 3-0-9 rai (1.19 acres) site on Soi Chidlom where it plans to develop a condominium.
Thailand property developers resumed new launches of condominiums in the midtown and suburban areas, but the rate of launches was slower than past quarters, and CBRE noted that this will reduce demand for midtown and suburban condominium development sites.
To read CBRE’s Thailand Marketview Investment report for Q2 2015 click here.
