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New Residential Projects Fall by Half in Sept from Aug in Bangkok

According to a survey by the Agency for Real Estate Affairs, new residential-project launches in Bangkok in September dropped by 50% from the previous month in terms of number of projects, by 9% in terms of units and by 16% in terms of value.

AREA president Sopon Pornchokchai attributed the drop in launches to the strong rain, which flooded some areas.



The Nation newspaper has reported that the value of Thai property bought by foreigners last year was Bt67.03bn, accounting for 11.6 per cent of all property available for sale during the year, according to a survey by the Agency for Real Estate Affairs (AREA).

AREA’s president Dr Sopon Pornchokchai said 26.9 per cent of the properties bought by foreigners, worth about Bt18.05bn, are in Bangkok and surrounding locations, while 21.1 per cent (Bt14.1bn) are in Phuket; 19.7 per cent (Bt13.17bn) in Pattaya; 10.9 per cent (Bt7.2bn) in Cha-am and Hua Hin, and 3.3 per cent (Bt2.2bn) in Chiang Mai.

Published in Pattaya of the Future
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