Bangkok property market Q1 Growth
Bangkok’s residential property market continues to show price growth, with an eight-point increase in the DDproperty Property Index – from 205 points to 213 – in the first quarter.
This strong opening is on the back of an improving economic outlook and an expected increase in full-year growth in gross domestic product to 4.2 per cent, up 0.3 percentage points from 2017, and in part due to the rising cost of developing projects in the popular but densely built-up areas in Bangkok, online real-estate portal DDproperty said on Monday.
“The sophistication of Bangkok’s property market is more apparent now than ever,” said Kamolpat Swaengkit, the company’s country manager.
“As values continue to move upwards, property’s reputation as a valuable investment asset strengthens further. Developers are therefore taking note and it is no wonder that the year has welcomed joint ventures between local and foreign developers eyeing potential across the city.
“They have become a lot more selective on the kinds of projects they work on, with the focus on building the ‘right’ property for the location and ensuring it is suited to its target audience. We have seen a real shift in the market with this renewed attention to detail,” she added.