Bangkok Residential Launches Rise Q1
Q1 residential launches in Bangkok and suburbs up nearly 6% year on year, as value rises 13%
Some 90 residential projects were launched in Bangkok and its suburban area in the first quarter, comprising 24,619 units worth Bt106.69 billion, according to a report released by the Real Estate Information Centre (REIC) of the Government Housing Bank on Monday.
The number of first-quarter launches was 5.9 per cent higher than in the same period last year, while the figures for new units and value were up 2.1 per cent and 13 per cent, respectively.
The REIC report also shows that residential prices for the new projects averaged Bt4.3 million per unit, up 10.25 per cent from Bt3.9 million in the first quarter of 2017.
Fifty-four of the newly launched projects were for detached housing and townhouses, with 8,762 units combined – down 17.3 per cent year on year – and a total project value of Bt41.63 billion, up 7.4 per cent.
The other 36 projects were for condominiums with a combined 15,857 units worth Bt65.33 billion – some 16.1 per cent higher in terms of projects, 17.4 per cent higher in terms of units and 16.9 per cent up in value terms compared to the same period last year, the report stated.