The number of new condominiums in Bangkok’s central business district (CBD) is expected to surge 64% to 12,000 units this year, 70% of them driven by the high-end and luxury segments, says property consultancy CB Richard Ellis (Thailand).
New residential units in Greater Bangkok are expected to increase by 3-5% this year as the government revs up its budget disbursement and construction of new mass transit lines.
SET-listed developer Property Perfect Plc (PF) has cut this year's presales forecast to 15.5 billion baht from 18 billion, blaming the country's unfavourable industry and economic prospects.
SET-listed developer Sansiri Plc (SIRI) will launch eight condominium projects worth a combined 21 billion baht this year as planned, encouraged by the recovering economy, low interest rates and the government's infrastructure plans.
The Treasury Department expects to be able to complete its valuations of Thailand's entire 32 million land plots by next year, in time to be used as a base to calculate the proposed land and buildings tax.