Historical record for condominium launches
About 70,000-75,000 new condominium units will be launched this year, the highest ever in history since the high-rise development was introduced in Thailand, according to the Real Estate Information Centre.
Samma Kitsin, director-general of the centre, said that last year the newly-launched units were numbered 63,000 units.
In contrast, the newly-launched low-rise units will be numbered close to last yearâ€™s, at 40,000 units.
The centre estimated the 5-10 per cent growth in the real estate market next year, thanks mainly to the new mass transit projects.
Samma is confident that the high growth would not induce a bubble. The price of new condominium units tends to fall, thanks to fiercer competition. Developers now use pricing to win new clients while higher household debt discourages speculative buying.