Bangkok property buyers and investors are still choosing to purchase new condominiums over resale units, and are picking lower-priced residential units on the outskirts of the city.
According to new research from the Real Estate Information Center (REIC), the number of transferred units in Greater Bangkok during the first nine months of 2015 grew 6 percent year-on-year, but the total value of those units fell 16.7 percent as buyers purchased in cheaper locations – and especially along planned extensions of the mass-transit routes.
The survey reported the number of residential units transferred between January and September this year was 131,914 with a combined value of THB 321 billion baht – an average of approximately THB 2.43 million per transferred unit.
Leading the top five locations by number of unit transfers was Bang Bua Thong in Nonthaburi, and this was followed by Bang Phli in Samut Prakan, Lam Luk Ka in Pathum Thani, Sai Mai in Bangkok and Pak Kret in Nonthaburi – all in the outer regions of Bangkok.
Condominiums accounted for 34 percent of residential units, closely followed by single houses at 30 percent.
The research also revealed that Bangkok property buyers were continuing to opt for new units over resale properties, although the popularity of the latter is rising as evidenced by an increase from 34 percent last year to 42 percent this year in the number of transferred resale units.
REIC noted that the top districts for new condominium units included Huay Kwang, Suan Luang, Phra Khanong and Chatuchak in Bangkok and Muang district in Nonthaburi. The hottest locations for resale condos were reported as being Huay Kwang, Bang Sue, Phra Khanong and Don Mueang in Bangkok, and Khlong Luang in Pathum Thani.