Proliferation in the periphery
Areas that have only recently benefited from new transit routes or that soon will made up the strongest demand for condominium units in the latter half of 2012, as land in more centrally located parts of the city becomes scarcer
- Published: 17 Feb 2013 at 00.00
- Newspaper section: Spectrum
Momentum continued in the Bangkok condominium market in the second half of 2012, bringing the total of new launches for the full year to 61,462 units, an increase of 49.2% from 41,167 the year before. The focus of many developers continued to be on locations near mass transit, with a noticeable pickup in activity along routes still under construction, particularly the MRT purple line in the Bangkok peripheral area.
Looking at cumulative supply from 2009-12, Knight Frank has revised its figures to reflect the fact that most projects launched before 2008 have been sold out. The cumulative supply was 236,769 units at the end of 2012.
In the second half of 2012, developers launched a total of 34,378 condominium units, an increase of 26.9% over the new launches in the first half of the year. The majority of the newly launched condominiums were in the Bangkok peripheral area, representing 74% of the total, followed by the city area with 16% and the city fringe with 10%.
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