The projects of the rail expansions in the country along with the lifestyle of modern people who are desiring for convenient life is leading to the higher demands of housing units. An increase of 19 percent from the previous year, the addition of 62,751 new housing units entering the market clearly shows that the real-estate developers are grabbing the opportunity to meet the demands of the people.
While the most popular and preferred locations for the people continue to be around the Light Green Line and the Blue Line of the Bangkok Mass Transit System. In the Central Business District (CBD), Sukhumvit remains the most popular area, with around 11,000 new units coming into the market; this was followed by Wireless Road, Silom and Sathorn with 2,300 units, and Rama 4 with 817 units.
While the new projects in the CBD commanded an average sales price of THB 248,267 per square metre, the area around the CBD was priced at approximately THB 131,521 per square metre, and new projects in the suburbs was at THB 79,871 per square metre, increasing from 2016 by 8.6 percent, 1.2 percent, and 6.5 percent respectively, according to I news.
The market outlook of the suburban areas and around the CBD is that both locations have opportunities for growth; this is in terms of product, price and consumer response, especially for projects near the mass transit train lines or no more than 1 kilometer from the lines. These areas should continue to receive heightened attention from large and mid-scale property developers.
Knight Frank Thailand Research found that there are several projects from leading developers that will be gradually launched in the CBD in the remaining quarters of 2018.