In contrast to other recent research reports focusing on the high-end residential property sector in Bangkok, new data from real estate firm JLL has indicated that prices at the top end of the market are actually virtually static.
The news from JLL in its Residential Index for Q3 2015 report noted that Bangkok’s luxury residential prices showed no movement between Q3 and Q2 this year, and just a 0.1 percent increase compared with the same period last year.
This report will likely be concerning news for some of the significant number of property developers that have turned their attentions to this sector of the market during what is widely acknowledged as an economic slowdown in the Kingdom. The general consensus behind the move is that the buying power of consumers at the high-end of the economy is less effected by the weak economy.
Elsewhere, JLL reported that only eight of its featured markets saw price growth above 1 percent.
The company said that it expects a mixed performance for sales across the region right through until the end of next year, citing further weakness in Singapore and investors remaining on the sidelines in Hong Kong.
Read the full JLL Residential Index Q3 2015 report here.
