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November sees drop in value of sales in new residential projects

November, the month when massive anti-government protests began rocking Bangkok, saw a drop in sales in new residential projects launched at the time, according to a survey by the Agency for Real Estate Affairs.

Only 37 per cent of the value of new projects launched that month were sold, compared with 49 per cent of the value of October launches.

Condominium units priced at between Bt1 million and Bt2 million were popular last month. Of the 4,585 units launched, 2,200 units sold, or about 48 per cent of total. Condos priced between Bt3 million and Bt5 million recorded sales of 1,495 units, or 76 per cent of the total 1,959.

Meanwhile, the number of residential projects launched last month grew by 79 per

cent from October to 43. In term of units, the number launched in November was 16,474, an increase of 63 per cent from the previous month, and in terms of value Bt50.56 billion, up 167 per cent.

Condominiums accounted for 62.5 per cent of the new units launched last month, totalling 10,299. Townhouses accounted for 28.3 per cent with 4,656 units, while 1,425 new detached houses were launched, or 8.6 per cent of the November projects. The remaining 94 units were shophouses.

The most popular November launches were homes priced between Bt1 million and B2 million, with 6,635 units or about 40 per cent of the total and worth Bt10.26 billion. In terms of value, however, homes priced over Bt5 million were worth Bt15.5 billion or 31 per cent of the total Bt50.56 billion.

The first 11 months of this year saw 382 projects launched comprising 116,701 units, up 3 per cent and 25 per cent respectively from the same period of last year.


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