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Boom Time for Northeast Thailand Property Market Featured

Northeast Thailand Northeast Thailand

According information from the the Real Estate Information Centre of the Government Housing Bank, the ASEAN ECONOMIC Community coming up in 2015 is boosting residential demand in the Northeast, especially from Vietnamese, South Korean and Japanese investors expanding in Laos.

Research shows that the popular locations in the Northeast are Nakhon Ratchasima, Khon Kaen and Udon Thani, Samma Kitsin, director-general of the centre, said last week.

Nakhon Ratchasima recorded 7,630 residential units worth Bt25.8 billion launched as of the third quarter of 2012, of which 6,900 units worth Bt22.9 billion were low-rise single family homes and townhouses and the remaining 730 units were worth Bt2.9 billion.

Up to 60% of these residential units have been sold.

Residences priced from Bt3.1 million-Bt5 million were popular in Nakhon Ratchasima, accounting for 33% of the total, followed by Bt2.1 million-Bt3 million, Bt1.1 million- Bt2 million with a share of 21%, and up to Bt1 million.

The main locations for launching residential projects in Nakhon Ratchasima were Muang and Pak Chong districts.

From October of last year to last month, 11 condominium projects were introduced with 2,250 units worth about Bt5 billion.

Khon Kaen recorded 4,640 residential units for sale, of which 2,700 were low-rise residences including single family homes, townhouses, duplexes and shophouses worth Bt9.7 billion.

The remaining 1,900 units were condos worth Bt2.8 billion as of September 2012.

Half of the total has already been sold, the information centre said.

Residences priced at between Bt3.1 million and Bt5 million were 59% of the total, followed by 2.1 million-Bt3 million with 27% and up to Bt1 million, the centre said.

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