The Housing Business Association has predicted that residential and condominium prices will continue to grow this year despite the lowering oil prices and adverse political conditions.
Residential prices should grow by 3-5 percent while condominium prices should rise by 8-10 percent this year, according to the association.
The association said although the lowering oil prices should reduce costs of transportation of building materials, land prices and labour costs will still increase, prompting the residential and condominium prices to climb up further this year.
Land prices near BTS skytrain routes in particular should increase by 10-20 percent this year, it said.
Despite the political instability in the first half of this year, prices of the best downtown condominiums in Bangkok continue to rise. This year, five projects have achieved record prices of above 300,000 baht per square metre, triple the highest prices achieved more than 20 years ago in the 1990s, according to CBRE’s transaction records.