New condominium supply in Greater Bangkok continued declining with an estimated decrease of around 10% this year, while new low-rise units are increasing, expected to equal the peak seen in 2005.
New land allotment permits for low-rise units excluding vacant land plots in Greater Bangkok totalled 27,400 units in the first half of the year, up from around 19,800 in the same period last year.
Last year, low-rise permits totalled about 51,400 units, up from about 42,600 units in 2009. During the past seven years, the peak was in 2005 with 54,100 units, up from 50,600 units in 2004 but down in 2006 to around 31,300 units.
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