Connect with us

News

Bangkok property trends continue to point upward

The Thaiger

Published 

 on 

Bangkok property trends continue to point upward | The Thaiger
  • follow us in feedly

Bangkok’s property market continues to show price growth with an eight-point increase in the DDproperty Property Index from 205 to 213 in the first quarter of 2018.

A strong opening for 2018, this growth is on the back of an improving economic outlook and an expected increase in Gross Domestic Product (GDP) this year to 4.2 percent (up 0.3 percent year on year), and in part due to the rising cost of developing projects in the popular but densely built-up areas in Bangkok.

The Index increased by 213 percent over the last three years, fuelled by escalating land prices, which are in turn dictating the type of projects being built. As a result, affordable residential projects are shifting to the city fringe and suburb areas, especially along the mass transit extension lines.

“The sophistication of Bangkok’s property market is more apparent now than ever,” said Mrs. Kamolpat Swaengkit, Country Manager for DDproperty.

“As values continue to move upwards, property’s reputation as a valuable investment asset strengthens further. Developers are therefore taking note and it is no wonder that the year has welcomed joint ventures between local and foreign developers eyeing potential across the city. They have become a lot more selective on the kinds of projects they work on, with the focus on building the ‘right’ property for the location and ensuring it is suited to its target audience. We have seen a real shift in the market with this renewed attention to detail.”

INFRASTRUCTURE IS KEY
The market has also been shaped by several external factors, with infrastructure being one of the most important and the ongoing development of the country’s public transportation networks pivotal to future values.

“The government continues to inject investment into mass transit networks, opening up new corners of Bangkok and even further afield. I am sure we will continue to see a flurry of activity along these routes as investors plan to cash into the capital appreciation brought about by infrastructure growth. Nowhere is this more apparent than Chatuchak, a district that continues to lead the pack. Here our Index shows growth of 10 percent since the last quarter of 2017, and an eye-watering 80 percent over the last three years. The extension of the BTS Green Line is the primary catalyst for such rapid price appreciation,” Mrs. Kamolpat explained.

Neighbouring Din Daeng, is also one to watch showing an impressive price increase of 39 percent over one year.

APPEAL OF VERTICAL LIVING
Supply has ramped up a few notches too. The DDproperty Property Index saw an 11 percent increase in the first quarter of 2018. Developers announced new project plans at the beginning of the year with condominiums making up 89 percent of this supply. This property class has become popular among developers due to better profit opportunities, as multiple units can be packed into one plot of land unlike landed houses.

Watthana remained the district with the highest supply volume for condos, accounting for 23 percent of all condo supply, followed by Klongtoey and Ratchathewi.

Meanwhile, Lat Prao and Prawet had the highest supply of townhouses and single-detached houses respectively in the first quarter of 2018.

“At the moment, buyers have considerable choice. Developers are trying to entice them to dig into their pockets by offering attractive promotions on their properties, which keeps the market moving forward. Coupled with the existing low interest rates and the potential for capital appreciation, we do not think that oversupply will be a concern going forward,” Mrs. Kamolpat concluded.

Bangkok property trends continue to point upward | News by The Thaiger

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *



Read more headlines, reports & breaking news in Bangkok. Or catch up on your Thailand news.

Interested in more property news or buying property in Thailand - check out FazWaz today!

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Road deaths

Bangkok DJ dies in high speed crash on notorious ‘death road’

Caitlin Ashworth

Published

on

Bangkok DJ dies in high speed crash on notorious ‘death road’ | The Thaiger
PHOTO: INN News

A well known local DJ died early this morning in a high speed car crash on a Bangkok road bend nicknamed “Curve of 100 Deaths.” Police say his car’s speedometer was found stuck at 200 kilometres per hour.

Police suspect 33 year old Annop Poonsripattana was going around a curve when he lost control of the car due to the slippery road conditions from the rain. His black Toyato Altis was found smashed into an electricity pole around 2:30am today. The impact caused Annop to be flung to the back seat. Police say his skull was shattered and his neck broken.

A security guard at a nearby building says heard an explosion and the electricity cut out. The entire area went black, he says. The so called “Curve of 100 Deaths” is near Ratchada Criminal Court in Bangkok’s Chatuchak district. The guard says many fatal crashes happen on the road.

“This area is highly prone to road accidents. Just last week a mother and her small child were killed here.”

The Ratchada Road curve so dangerous that locals honk when driving through the curve to show respect and to ask for permission from the spirits of those who have died there for safe passage, according to Coconuts Bangkok. In the past, many people have left offerings like zebra statues in honour of those who died in car incidents while driving on the road.

Annop played music at many entertainment venues in Bangkok. He was also a contestant in the Take Me Out Thailand TV show in 2015. An autopsy is being done at the Police General Hospital. Electricians are working to fix the electricity pole and restore power.

Bangkok DJ dies in high speed crash on notorious ‘death road’ | News by The Thaiger

An event with Annop Poonsripattana.

SOURCES: Nation Thailand | Coconuts Bangkok

Catch up with the latest daily “Thailand News Today” here on The Thaiger.

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading

Road deaths

1 dead, 2 injured, as out-of-control construction truck ploughs into family car

Maya Taylor

Published

on

1 dead, 2 injured, as out-of-control construction truck ploughs into family car | The Thaiger
PHOTO: The Pattaya News

A man has died, and his parents have been injured, after a construction truck lost control and ploughed into their car, crushing the vehicle and killing the 27 year old driver instantly. The Pattaya News reports that the truck also hit 5 other vehicles in the incident, which occurred in the Minburi district of Bangkok.

The truck driver, named as 41 year old Piean Sricharoen, says he was having problems with the truck’s brake booster while travelling from the central province of Saraburi. While attempting to emergency park in the middle lane to check the booster, the truck began to lose its balance, crashing into surrounding vehicles. One witness confirms the account, saying the truck began to sway back and forth before crashing into the victim’s car, crushing the vehicle, and causing a 7 car pile-up.

Emergency workers arrived on the scene and rushed the dead man’s parents to a nearby hospital. The truck driver has been charged with reckless driving causing death and is in police custody.

SOURCE: The Pattaya News

Catch up with the latest daily “Thailand News Today” here on The Thaiger.

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading

Bangkok

Bangkok officials issue advice to motorists to avoid parliament area due to protest

Maya Taylor

Published

on

Bangkok officials issue advice to motorists to avoid parliament area due to protest | The Thaiger
PHOTO: Jakapan Chumchuen / Flickr

Bangkok motorists would do well to avoid the roads around the Sappaya-Sapasathan building later today, with a political rally set to take place there this afternoon. That’s the word from officials, who have issued guidance to motorists ahead of the protest in front of the new parliament building, expected to kick off at 2pm and continue late into the evening.

According to a report in Nation Thailand today, the Metropolitan Police Bureau are advising drivers to avoid Kiak Kai Road, in front of the parliament building, as well as a number of other roads in the vicinity.

“On Thursday afternoon, the Free Youth group will hold a political rally in front of Parliament, where a meeting to amend the constitution is taking place. We expect the rally to start at 2pm and last until 10pm.”

MPB chief Pakkapong Pongpetra adds that the following roads are also best avoided:

• Samsen Road (from Bang Kra Beu intersection to Kiak Kai intersection)
• Pracharat Sai 1 Road (from Kiak Kai intersection to Bang Pho intersection)
• Thaharn Road (from Kiak Kai intersection to Saphan Daeng intersection)

Nation Thailand reports that drivers who need to get from Bang Kra Beu intersection to Bang Pho intersection are advised to take Amnuay Songkram Road, to Rama V Road, Techa Wanich Road, Pracharat Sai 2 Road, and finally Bang Pho intersection.

Pakkapong says officials are not expecting any trouble at today’s rally. The rally was announced last Sunday by protesters at the weekend demonstration held around the grounds of the Thammasat University’s Tha Prachan campus and the adjacent Sanam Luang royal parade grounds. The weekend protests attracted around 30,000 people.

“Protest leaders have asked Parliament for permission to hold the rally and have promised to obey the law and not block public roads. The MPB expects the rally to end peacefully, when the meeting concludes at 10pm.”

Despite officials’ confidence that the rally will pass off without incident, security has been tightened around the building. Additional police officers are being drafted in, as well as a security patrol along the Chao Phraya River, and an evacuation helicopter in the event senior parliamentarians need to make a swift getaway.

Meanwhile, motorists in need of further traffic information or roadside assistance can visit www.trafficpolice.go.th or call 1197.

SOURCE: Nation Thailand

Catch up with the latest daily “Thailand News Today” here on The Thaiger.

 

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading
Follow The Thaiger by email:

Trending