A total of 124,080 new condo units, townhouses and other homes will be offered for sale in the greater Bangkok area in 2013, an increase of 22 percent on 2012, according to independent real estate consultancy Agency for Real Estate Affairs (AREA).
The projection is based on a survey of the first half of the year, in which AREA found 62,044 new units launched onto the market with a combined record value of THB173.65 billion, company president Sopon Pornchokchai said.
He valued the estimated 124,080 units to be launched on the market this year at THB344.28 billion.
He said the company earlier anticipated lower numbers in the second half of the year, but information from listed property developers and other sources now indicated that they would launch more projects in the second half of 2013 than in the first half of the year.
He said about 64 percent of the new accommodation, or 39,648 units, were condominium apartments, followed by townhouses (21 percent), single houses (9 percent) and other types of properties.
The average price of newly launched units in the first half of the year was THB2.775 million, down 6 percent from THB2.937 million in 2012, because developers are offering smaller units in order to reach a wider target market.
Sopon predicted 115,480 units will be sold in 2013, up from 107,412 units in 2012. The number of sales in 2012 was 31 percent higher than the 81,816 units sold in 2011 – the year of the Great Floods.
As of the end of June, the company found a total of 133,238 property units were being offered for sale, representing 3 perce t of total housing in greater Bangkok.
But this was not seen to signal a problem, because in the percentage was as high as 5% in 1997 before the economic crisis, he said.
Sopon warned, however, that the property market in greater Bangkok is showing significant growth, which may cause a problem of oversupply in the future, the Bangkok Post reported.
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