The single-family home price index stood at 154.4 points, up 8 per cent from the year before, the town-house price index at 144.2, up 6 per cent and the land price index was at 155.3, up 6.3 per cent, according to the centre.

In the third quarter of 2005, the prices index for single-family homes, town houses and land surged 9, 6.8, and 7.5 per cent respectively to the highest level last year before weakening slightly in the fourth quarter.

The centre said that the number of homes and condominiums built last year totalled 37,435, down 12.7 per cent from the previous year.

Of this, there were 23,453 single houses built, down 13.9 per cent; 9,478 condominiums, down 17.5 per cent; 4,389 town houses and commercial buildings, down 36.3 per cent; and 115 duplexes, down 13.9 per cent.

The fourth quarter of 2005 saw the most houses and condominiums built during the year.

Previously, Prasong Ourlan, president of the Housing Business Association and Athip Peechanont, president of Thai Condominium Association, predicted that prices of homes and condominiums this year would rise by around 5-10 per cent due to higher costs of construction, inflation and slower economic growth.

They also forecast that the property market this year would expand 5-10 per cent, citing growing demand among homebuyers, even thought they might be settling for less expensive homes.