Floods reinforce flow to condominium market | Bangkok Post: property

This has been a year of extreme fluctuation in the residential property market. The market moved slowly as the year began and there was an influx of supply. Things improved with high hopes for the new government after the election. But the fourth quarter was marked by unexpected and severe flooding, with many people too busy looking after their existing properties to think about buying more.

In 2012, residential growth will focus on condominiums, as the housing market will need time to recover from the floods. Buyers are increasingly uncertain about location, and new building designs will have to be developed to take flooding into account.

Condominiums are becoming more popular among those seeking a city lifestyle, and more people who had not lived in a condominium in central Bangkok before did so temporarily to escape the floods. Although they may have had to adjust to being in a smaller space, many liked the convenience of life in a condominium because of the central location, the time saved commuting and the reduced hassle compared to maintaining a house.