Tuesday, October 4, 2011

Apartment Sukhumvit Projects Continue Unabated

Real estate market in Bangkok shows no signs of slowing in the form of new housing that projects along Sukhumvit Road, a road Skytrain above continues to be launched. The road to the intersection and Phloenchit Sukhumvit Soi Thonglor 55 or is seeing strong competition among the manufacturers, they have launched condominium projects worth more than BT100 billion, with over 10,000 units.

Since last year about 100 projects have been launched in the area of ​​ownership of listed and unlisted companies. Construction will be completed between the end of this year and in 2013, according to a survey by The Nation newspaper last week. Examples include Clover Thonglor, Lux and Sky Walk condominium, Ivy Thonglor, condominium fashion Phloenchit Noble, 38 and Aequa Ideo Morph.

Condominiums on the road price of Bt80, 000 and BT 200, 000 per square meter.

Luxury homes at a price of 150,000 baht ($ 5,000) per square meter is located between the intersection Phloenchit and upper Sukhumvit Road between 1 and 10 Be. Soi Soi 10 to 55, prices vary between 80,000 and 150,000 euros per square meter.

One-bedroom units with a total area of ​​45-60 square meters are the most popular here.

Noble Development said that after President Thongchai Busrapan bookings Ploenchit Noble opened the June 19 to 22, the company reported pre-sales worth Bt7.2 dollars, half of the total project value BT14 billion.

"Although there was strong competition, our project is in full ownership, it is difficult to find in this area, where most projects are leased long," he said.

The claim here is sufficient to absorb the large number of launches of condominiums, according to a survey by the Center for Real Estate Information. From the Skytrain opened in 1999 the whole area of ​​Sukhumvit has grown rapidly in terms of luxury condominiums and apartments and hotels. In addition to the condominium projects under construction there are several five-star hotel under construction on Sukhumvit Road.

In 2011, the total number of houses for sale in Bangkok 130,282, including a single-family homes, duplexes, townhouses, condominiums, commercial buildings and land for residential purposes. These projects have not been sold, and now with no problems, but at the time of the study, the total number of units sold and most of the housing projects began shortly before the study.

The increasing demand in the local and foreign buyers, who lives in Bangkok condominium raises prices 10-20 percent higher than the price in advance depending on how they are close to the Skytrain. For example, Ficus Lane on Sukhumvit 44 / 1, which was priced at 50,000 baht per square meter when it was introduced in 2005 now sells for 110,000 baht per square meter.

Condominium in Soi Thonglor have been previously recorded in the prices of around 100,000 euros per square meter more than 120,000 euros per square meter. Condominium in Soi Ruamrudee a price of 40,000 euros per square meter five years ago and has recently recorded sales to Bt120, 000 per square meter.

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