Dip in new Homes

Some 154 new residential projects were launched in the first half with a total of 39,335 units worth

Bt105 billion. Of these, 41 per cent were condominiums, 28 per cent detached homes and the rest townhouses.

When added to existing projects launched over the past two years (2006-07), the total figure is now 1,335 projects, with 408,594 units worth Bt1.07 trillion. Some 73 per cent of this total or 299,420 units have been sold and will be delivered to customers this year and next, while the remaining 109,174 units are still on sale.

Meanwhile, the price per unit in the first half averaged Bt2.41 million, which is 5.7 per cent up from the price at the end of last year (Bt2.28 million).

Agency chief Sopon Pornchokchai said prices were rising less than construction costs were increasing because demand was lower. A number of property firms were unable to increase their prices despite rising costs.

Homes priced between Bt1 million and Bt2 million were most popular with 14,380 units sold (38 per cent of projects launched in the first half). Some 9,244 units priced from Bt2 million-Bt3 million were sold (25 per cent of first-half sales), while 5,284 units from Bt3 million-Bt5 million were sold (14 per cent).