B320bn in new housing in Bangkok

B320bn in new housing in Bangkok

100,000 new homes on the market this year in Greater Bangkok

New real estate projects in the Greater Bangkok area are expected to total about 320 billion baht by year's end, with more than 100,000 housing units being launched on the market in 2014, according to independent consulting firm Agency for Real Estate Affairs Co.

Sopon Pornchokchai, the company’s president, said a total of 272 housing projects with 77,626 units worth 235.515 billion baht had been launched over the first nine months of this year. The average price per unit was 3.034 million baht.

The company projected a total of 105,571 units worth 320.3 billion baht would have been launched by the end of the year, an average price of 3.028 million per unit.

This  was about 20% less than in 2013, with the value down by  17%. 

Mr Sopon said the figure is an improvement over earlier projections for 2014, which he attributed to the political situation having become more stable in the second half of the year.

There were a total of 37 new projects launched in September, with 10,666 new units worth 32.7 billion baht, he said.

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