Bangkok prices up 5% in H2 2013

Residential property prices in Bangkok saw prices rises of an average of between 5 percent and 6 percent during the second half of 2013, according to a survey conducted by the Real Estate Information Centre. The survey, which focused on detached houses, townhouses and condominiums in Bangkok and its suburbs in Nonthaburi, Pathum Thani and Samut Prakan provinces, saw prices of metro condominiums rise by 5.6 percent, while those located in suburban areas rose by more � at around 8 percent. Prices of townhouse in the Greater Bangkok area rose by 6.9 per cent in the period, more than detached houses and condominiums. Condominium prices in the metro area rose by 5.6 per cent from the first half of the year. In the three suburban provinces, they rose by 8 per cent, compared with just 5.5 per cent in Bangkok proper. Samma Kitsin, the Director-General of REIC, told reporters that overall, condominium prices grew at a lower rate than detached houses and townhouses because of the large number of condos on the market, resulting in high competition. He also confirmed that the supply of detached housing and townhouses was stable amid growing demand, and showed no signed of oversupply, This article was written by Andrew Batt, International Group Editor of PropertyGuru Group. To contact him about this or other stories email andrew@propertyguru.com.sg