Despite the large number of condominiums launched in Bangkok in last year's fourth quarter, the average take-up rate was 69%, says the property consultant Colliers International Thailand.
Surachet Kongcheep, the senior manager of research, said consumer confidence was strong, as there were no negative factors affecting the market last year.
Some projects were sold out in only one day or achieved a high take-up rate within a few days, showing the market remained strong, he said.
Developers' reputation, location, pricing, project concept, unit design and environmental impact assessment approval were the main factors influencing customers' decisions.
According to the research, 47,340 new condo units were launched last year, up by 54% from 2011.
Condo supply in the whole of Bangkok at the end of 2012 was 354,900 units.
The northern fringe area was the most popular location last year, accounting for 15% of newly launched units, followed by the city area with nearly 10%.
Most projects in the city area were not located on or close to main roads but rather on sois and side streets where land prices were considerably lower.
The largest customer group comprised middle-income and low earners, so developers tried to keep unit prices below 3 million baht.
More than 60% of new units in 2012 were located about one kilometre from mass transit stations.
Most high-end units were located within 500 metres of a skytrain or subway station.
Many factors caused the average selling prices of newly launched units to increase by about 12% from 2011.
The city area was the most expensive at about 130,000 baht per square metre for some new high-end projects.
It was followed by the southern fringe area (88,000 baht) and suburban Bangkok (50,000 baht).
About 22,600 units were completed and registered along the Purple Line.
Nearly 10,000 units were under construction near the Purple Line and scheduled to be completed by the end of 2015.
However, some developers still plan to launch new projects this year.
About 3,500 condo units existed along the Blue Line in 1997.
A slight increase in development was noted from 1999-2008. Then between 2009 and 2012, more than 12,300 units were completed and registered.
A total of 17,500 condo units were completed along the Blue Line between 1997 and 2012. More than 8,000 are still under construction and due for completion by the end of 2015.
The new Bangkok city plan and the labour shortage were major factors affecting condo development in 2012.
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