Townhouses and condominium sales boomed while single houses priced from 3-5 million baht were the best sellers in Greater Bangkok during the first half of this year, according to a survey by the property management company Plus Property Co.

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Townhouse and condo launches brisk

Townhouses and condominium sales boomed while single houses priced from 3-5 million baht were the best sellers in Greater Bangkok during the first half of this year, according to a survey by the property management company Plus Property Co.

It said 67 townhouse estates were launched in the first half with 8,105 units, up 155% from the first half of 2009. More than 10 of the projects offered unit prices below 1.2 million baht, suggesting more developers are entering the market to take advantage of the BoI Home incentives from the Board of Investment home programme.

Spurred by the property tax incentives that expired on June 30, townhouse sales rose 92% from the same period last year to 12,051 units, accounting for 51% of all offered units and a 14% share of all residential units. The average selling rate per month was 7.2 units per project, up 2.9 units from a year earlier.

Townhouses and condominium sales boomed while single houses priced from 3-5 million baht were the best sellers in Greater Bangkok during the first half of this year

The number of newly completed condominiums totalled 41 projects with 19,128 units, with the largest number located in the Ratchadaphisek area, followed by outer Sukhumvit and Sukhumvit.

The cumulative total of completed condominiums rose 10% from 2009 to 212,468 units, showing that developers had good liquidity and were able to transfer units, said Plus.