Thailand Condo Price Index Sees Slight Decrease
The price index of condominiums for sale in Bangkok and its surroundings in the first quarter of 2021 decreased 0.8 per cent compared to the previous year, the Government Housing Bank’s Real Estate Information Centre (REIC) reported.
“Although condominium prices are contracting slightly compared to 2020, condos in Bangkok have seen their prices increase by 0.2 per cent when compared to the previous quarter,” said REIC acting director-general Wichai Viratakaphan.
“This trend has driven developers to continue launching promotional campaigns until the end of the year to help sell condos in stock,” he said.
“This is thanks to the government’s economic stimulus measures to boost the real estate business by lowering property transfer fees and mortgage fees for cheaper condos,” he said.
The measure, which will expire at year-end, cuts property transfer fees from 2 per cent to 0.01 per cent and mortgage fees from 1.0 per cent to 0.01 per cent for buying condominium units priced at Bt3 million or lower.