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Thailand - February 2008
Sale of lower-cost condos healthy
by Robert Carry -
Thailand Property Report
Low- to medium-priced condominiums near mass-transit
routes are expected to continue to sell well, despite
below-par predictions for other sections of the market.
The Nation quoted Naporn Sunthornchitcharoen, executive
vice-president of the country´s largest residential
developer, Land & Houses Plc as saying, “Living expenses
are higher, especially travel costs as a result of higher
oil prices.” He continued, “Condo units are also
affordable for the new generation who have limited budgets
for buying housing in the city.”
Bangkok´s subway and Skytrain networks have proved key in
condo sales, and developments along proposed new routes
are also expected to sell strongly. However,
Sunthornchitcharoen pointed out that developers will be
taking into account the increasing cost of land in prime
commuter locations, and may instead use the land for more
higher end projects. “Developers will need to be concerned
about the cost of funds which includes higher oil prices
and project-finance interest rates,” he noted.
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