Bangkok's booming condominium market sees a shift to the suburbs
As land becomes increasingly scarce in the city's central business areas, developers are finding success in areas that are further away from the commercial core, though still accessible by transit
With the completion and registration of 2,270 new condominium units with the Lands Department in the third quarter of this year, Bangkok is now home to 337,580 condo units, with no apparent let-up in demand and development. A shortage of construction labour is the main factor delaying the completion of some projects.
The latest statistics reflect the gradual change in development patterns in the capital. As of Sept 30 this year, 209,600 condominium units or around 62% of the total supply were located in suburban Bangkok, defined as areas beyond the reach of the current mass-transit system. The remaining 128,300 units were located in urban Bangkok. Within urban Bangkok, the northern fringe area has the highest number of units due to its proximity to the city's main business districts, mass-transit connections and relatively lower land prices compared to the city area. Outer city areas are appearing on the radar screen due to the extension of the BTS across the Chao Phraya River to the west, and further eastward along Sukhumvit Road into Samut Prakan province.
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