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Bangkok’s condo prices likely to rise by 20% in 2011

Condominium prices are expected to rise further by 20-25 per cent this year with the number of condominiums seeking new registration set to increase by more than 100, according to the Treasury Department.

Daniel Lorenzzo

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Condominium prices are expected to rise further by 20 to 25 per cent this year with the number of condominiums seeking new registration set to increase by more than 100, according to the Treasury Department.

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Director-General Vinai Vittavasgarnvej said the department had valuated 4,600 registered condominiums nationwide, most of which are located in Bangkok and its environs, and provinces where there are many tourist sites.

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The survey found condominiums with the highest prices now are located in the Sukumvit area, with unit price over 200,000 baht per square metre

The survey found condominiums with the highest prices now are located in the Sukumvit area, with unit price over 200,000 baht per square metre. It is projected that over 100 condominiums will seek registration this year. Most are located along the elevated and underground mass transit routes, and electric train routes and economic zones.

Mr Vinai said Treasury Department personnel have been sent to assess land prices in all provinces nationwide as part of an overall survey reviewing and re-valuating them for adoption in the 2012-2015 accounting period, set to begin Jan 1, next year.

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