Executive vice president of the kasikorn bank states that there are no signs of oversupply in the property market of Thailand and it is seems to be secure.
Almost 102000 new houses were built in the previous year that shows an increase in nineteen percent on yearly basis while t shows a thirty percent increase as the quantity of sold houses amounts to 107000 in this period, says Chatchai Payuhanaveechai.
In the previous year, almost 129000 houses remained unsold that lowers the percentage by four. About 130000 houses remained unsold from the year 2009 to year 2011.
The prices of the houses have been on an increase and he gives a reason of surging of costs at about 12 percent in the last year’s second quarter.
Another reason for the increased prices given by him is the higher costs of labor along with higher costs of land in the Bangkok and its surroundings specifically the land closer to the Skytrain .
- Residential Rents for Expatriates in Bangkok is Expected to Increase
- Certain Buyers Left Dissatisfaction as Thai Developers Fail to obtain EIA Approval
- Rates of Housing Units increases to 48% during 4 Years
- Developers welcome the ideas of Finance Ministry to Tax the Vacant and New Land
- No Risk of Property Bubble in Thailand