Documentos de Académico
Documentos de Profesional
Documentos de Cultura
THAIlAnd
mARKeT IndICAToRS
Q1 2012 - Q2 2012 new Supply lAunCHeS pRICeS TAKe-up
New launches for Q2 2012 decreased by around 30% compared to Q1 2012 with approximately 9,900 units launched onto the market. This represents a continuation of consolidation in the market after the dramatic number of launches in Q1 2012, which was the
result of a number of projects being delayed in late 2011 due to the Bangkok floods. The total number of newly launched units in the first half of 2012 is more than 24,000 or more than 6.5% over the same period in 2011.
www.colliers.co.th
In Q2 2012, approximately 62% of new condominium units in Bangkok were located in the urban Bangkok area. Within that area, the Northern Fringe showed the highest numbers with approximately 2,200 units or
22% of the total, followed by the outer City West area with around 17%.
Source: Department of Land, Colliers International Thailand Research Note: The number of units does not include projects from the National Housing Authority
Around 11,440 new condominium units were completed and registered at the Department of Land in the first half of 2012. The total existing supply for the whole of Bangkok is approximately 335,300 units. More than 55,700 units are scheduled to be completed in H2 2012. The
number of condominium units under construction and scheduled to be completed in 2012 is the highest since the Asian Financial Crisis in 1997.
COLLIERS INTERNATIONAL | P. 2
Approximately 62% or nearly 209,600 condominium units are located in Suburban Bangkok. Within the urban area, the Northern Fringe contains
the most number of units, followed by the City and Southern Fringe areas because of proximity to the centre and mass transit connections.
Source: Colliers International Thailand Research Remark : Supply does not include units in Suburban Bangkok Area
Approximately 55,700 units are scheduled to be completed in the second half of 2012. The Northern Fringe area continues as a main player in urban Bangkok with approximately 10,201 units planned for completion
in the second half of 2012. This is because many condominium projects were launched in this area during the past few years, especially along Ratchadapisek Road and on the sub-roads off Ratchadapisek Road.
COLLIERS INTERNATIONAL | P. 3
The take-up rate for condominium projects in Bangkok for Q2 2012 was approximately 41%. The take-up rate in the outer City West area is the
COLLIERS INTERNATIONAL | P. 4
Quality House Plc launched a new highrise project opposite their low-rise project in the outer City West area close to the new BTS Ratchaphruk Station on the new extension line from Wongwianyai Station and is scheduled to be completed in 2012. They sold nearly 80% of the 627 units after the official launch in May 2012, benefitting from the projects proximity to the BTS station. Although it is still under construction, the completion of the station should be prior to the projects completion.
The average selling price in the City area is the highest at more than THB144,000 per sq m. This is more than 100% higher than the average price in Bangkok overall. The average selling price in the eastern Fringe area ranks second because of a new project by a listed company in the
area selling at an average price of more than THB95,000 per sq m. The average price in the Suburban Bangkok area is around 27% lower than the average price in this quarter as most are located outside the urban Bangkok area or far from mass transit.
COLLIERS INTERNATIONAL | P. 5
Bangkok Condominium market rePort | Q2 2012 other FaCtors mASS TRAnSIT effeCT
AveRAge SellIng pRICeS of newly-lAunCHed pRojeCTS by pRoxImITy To exISTIng mASS TRAnSIT STATIonS, Q2 2012
The average selling prices of projects not more than 200 m from BTS / MRT stations are 48 - 170% higher than projects farther away. Several luxury condominium projects and other projects from listed developers were launched in the second quarter of 2012 only a few metres from a
BTS station. There were some luxury condominium projects launched in Q2 2012 in the City area, close to a BTS station with the highest average prices in the quarter.
TAKe-up RATe of newly-lAunCHed pRojeCTS by pRoxImITy To exISTIng mASS TRAnSIT STATIonS, Q2 2012
The take-up rate of projects that are more than 1,000 m away from the BTS / MRT stations was the highest at around 46% due to the very low average selling price compared to other locations. In addition, the new
BTS extension lines are under construction and many condominium projects are scheduled to be completed at the same time or before the completion of the new extension lines.
COLLIERS INTERNATIONAL | P. 6
Source: Bank of Thailand and Colliers International Thailand Research Note: excludes negligible amounts of financing from other sources. Percentage change is comparable quarter-on-quarter.
The growth rate of housing loans increased more than 3% between Q1 and Q4 2011 because of the first home incentive policy from the previous
government. Flood victims, too, need special mortgage loans for home renovations.
sPeCial issue HISToRICAl Supply And newly-lAunCHed unITS Along THe new bTS exTenSIon lIne (on nuT beARIng)
CumulATIve CondomInIum unITS CompleTed by yeAR, on nuT beARIng, 1995 H1 2012
Approximately 14,300 condominium units were completed and registered at the Department of Land during the first half of 2012. After 2007, the number of condominium units increased significantly in the on Nut Bearing area. The number increased with more than 3,800 units
launched in 2010 due to the start of construction of the BTS extension line in 2006 and the official opening in August 2011. A number of condominium projects were launched after 2006 and these are scheduled for completion before 2011.
COLLIERS INTERNATIONAL | P. 7
Approximately 14,100 units were launched during 2007 to 2010. The highest number of launches on record was in 2010 with nearly 6,300 units. This was due to the new BTS extension lines taking shape and BMA announcing the official opening date, which attracted many developers to launch new condominium projects. Many new condominium projects launched in the area were not located along Sukhumvit Road but were in small roads (sois) off Sukhumvit
Road. This is due to the increase in land prices along the mass transit lines. Most areas along the road are old residential communities with both sides of the main road lined with shop houses, a major obstacle to condominium development. Developers had to buy the land and shop houses or houses at high prices and this affected the selling price of their condominium projects. Some developers purchased plots of land on small streets off the main road and not far from the stations.
COLLIERS INTERNATIONAL | P. 8
COLLIERS INTERNATIONAL | P. 9
AppendIx
COLLIERS INTERNATIONAL | P. 10
COLLIERS INTERNATIONAL | P. 11
SUBURBAN BANGKOK
These are the environs outside the areas already mentioned. expansion of the mass transit system is the main determinant for increasing future supply in a particular area. The expansion from on Nut to Samut Prakarn is scheduled to be completed in 2011. The expansion of the BTS will benefit directly the surrounding condominiums, as it will considerably reduce transportation costs and time. This will encourage the development of new condominiums in this area. Suburban Bangkok represents the biggest area and for the purposes of this report and includes Bangkok citys old town (koh Rattanakosin area and boundary area). This location has comprehensive town planning controls restricting building height, so there are no condominium projects in the area.
COLLIERS INTERNATIONAL | P. 12
Bangkok Condominium market rePort | Q2 2012 CollIeRS InTeRnATIonAl THAIlAnd mAnAgemenT TeAm
PRoJeCT SALeS & MARkeTINg Monchai orawongpaisan | Associate Director ReSIDeNTIAL SALeS & LeASINg Napaswan Chotephard | Manager ReSeARCH Tony Picon | Associate Director Surachet kongcheep | Senior Manager oFFICe & INDuSTRIAL SeRVICeS Narumon Rodsiravoraphat | Associate Director ReTAIL SeRVICeS Asharawan Wachananont | Associate Director ADVISoRY SeRVICeS | HoSPITALITY Jean Marc garret | Director ADVISoRY SeRVICeS Napatr Tienchutima | Associate Director ReAL eSTATe MANAgeMeNT SeRVICeS Prasert Saiphrawan | Senior Manager INVeSTMeNT SeRVICeS Nukarn Suwatikul | Associate Director Wasan Rattanakijjanukul | Senior Manager VALuATIoN & ADVISoRY SeRVICeS Phachsanun Phormthananunta | Director Wanida Suksuwan | Associate Director PATTAYA oFFICe Mark Bowling | Senior Sales Manager Supannee Starojitski | Senior Business Development Manager / office Manager HuA HIN oFFICe Sunchai kooakachai | Senior Manager
ReSeARCHeR: Thailand Surachet kongcheep Senior Manager | Research emAIl surachet.kongcheep@colliers.com
This report and other research materials may be found on our website at www.colliers.co.th. Questions related to information herein should be directed to the Research Department at the number indicated above. This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies.
Accelerating success.
www.colliers.co.th