Thailand's booming condominium market - Thailand Business News

The booming condominium business will see nearly one million new units rise up countrywide with three-fourths of them in Bangkok and its outskirts, according to a survey by KasikornResearch Centre.

In Bangkok and its suburbs, 62,500-65,500 condo units have already been started this year, a 4.9-9.9 per cent increase from last year. The new projects are added to some 80,000-85,000 units of finished condominiums, an increase from 78,000 units last year.

The condominiums now under construction will gradually open in the next few years.Kasikorn said the condominium business has been no less active in the provinces where urban investors expanded their investments.About 23,000 condominium units have been launched in the provincial property market this year, rising by 179 per cent, and it will see continued growth in 2014-2015, the research centre predicted. It warned, however, of oversupply in the upcountry market. MCOT online news