Since 2009, the section of Sathorn Road from Sathorn junction to Taksin bridge has undergone a transformation from a strip of merchant shophouses to a luxury residential area boasting condominiums with over 8,000 units, according to a recent Nation survey. “I was born in and have stayed at Soi Suan Phlu for 48 years, I have seen many changes to this location since 2009, with more condominiums around...
A glut of condominiums as Thailand’s economy wavers and stricter mortgage-lending rules kick in is creating a buyer’s market in Bangkok. Some 65,000 new apartments were added to the city last year, an 11% increase over 2017 and the most since 2009. Demand, however, is tepid with developers reporting take-up rates of just 55% and average asking prices decreasing 6% year-on-year, a Knight Frank report...
This year is the year for condominium end-user buyers, with many developers saying they will concentrate on clearing completed but unsold condominium inventory in response to weaker demand, partly due to the Bank of Thailand's stricter mortgage requirement policy for second- and third-home buyers. The residential market this year will be driven more by end-user demand, with fewer investors or...