According to CBRE’s latest market real estate report the prices and number of projects in Bangkok especially in the suburbs are increasing. Many projects that were built in the downtown area a few years ago are now at 200,000 baht per Sq. M. while others recently surpassed the 300,000 baht per Sq. M mark.
There’s now limited land available in the downtown area which is making it difficult for developers to find premium locations to build new condos, this is causing the re-sale price of downtown condos to reach record highs. The highest average cost per Sq. M. is 189,667 in the Central Lumpini business district, surprisingly the popular Sukhumvit area cost per Sq. M. is only 168,341, most likely because the Sukhumvit area ranges from medium to high end condos and the vast area of the Sukhumvit downtown area.
Major developers are now starting to build new projects in the midtown and suburban areas which includes the new purple line of the MRT. Since 2010, the price of land around the Bangkok-Nonthaburi area has tripled. (dotproperty)
If you would like to learn more about the real estate industry in Bangkok or would like to schedule a viewing at one of these areas please contact us today.