It seems the condo market in Thailand is booming according to a survey carried out by the Agency for Real Estate Affairs which found that a total of 268 condominium projects were started, built or completed so far this year,
The highest amount in a single year since 1994.
The 268 new projects amount to a total of 117,250 units of which 91 percent (107,096 units) have already been sold with 61 percent (71,864 units) already being resided in.
The figures can be analyst to draw the conclusion that there is no over-surplus of units, a view that some have taken over the last couple of years.
There was a warning however from Sopon Pornchokchai, the president of the Agency for Real Estate Affairs who said some projects where all the units were purchased in a single day in the future need to be kept in check as it might lead to a bubble in the real estate industry in years to come.
He has urged the Thai government to put in place measures to protect the investments of buyers when placing a down payment to further improve buyer’s confidence and continue to grow Thailand’s real estate market.
Source : ThaiPBS
Content : LovePattayaThailand