The number of prospective home-buyers visiting residential projects in Bangkok fell by 20 per cent last week because of the red-shirt rally, a survey by The Nation has found.
Business Housing Association president Issara Boonyong said that most home-buyers were afraid of violence arising from the rally, so they delayed visits to development sites near the demonstration.
Issara, who is also managing director of Kanda Property, which is developing residential projects at Rama II and Pracha-Uthid, said the number of customers visiting his company’s projects dropped from the usual 50 per site to about 40.
Thai Condominium Association president Atip Bijanonda said consumer confidence faltered when home-buye
rs once again faced political uncertainty. When the number of customers visiting residential projects in the first week of March was compared with that in the second week, when the red-shirt rally occurred, the drop was about 20 per cent.
Record low sales rate hits Bangkok condo market
Bangkok hit a decade-long record for new condos entering the market, with 65,000 new units launched throughout 2018, but the sales rate fell to a 15.7% record low.
The sales rate for new condos launched in Bangkok in the second quarter fell to 15.7 %, an all-time low, beating the lowest previous quarter (35%) in 2010 when the “red shirt” political crisis brought Bangkok to a standstill.(more…)
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Before You Buy try to Rent
Simply inspecting the property at the site or show unit is not enough to really tell what the real living experience will be.
Buying a home is a big decision in life. For a super luxurious condominium worth more than THB 50 million per unit in a prime location, it is hard to know which building or unit will suit you the best without a real test of actually living in the building.(more…)
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