Some Bangkok-based developers have decided to explore new destinations to launching projects in pursuit of unmet demand and lower competition on the residential market.
Rising land prices, higher construction-material costs and a labour shortage are forcing leading property developers to revise their business strategies for next year. Several companies are delaying the launch of high-rise condominium projects, focusing instead on low-rise condominiums, and some have decided to wait for environmental impact assessment (EIA) permits before launching projects onto the market.
According to Colliers International Thailand's study, the Suburban Bangkok's condominium market showed signs of slowing down last quarter in 2013.
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.
Thailand leading developers in order to raise capital to support their business expansion over the remainder of this year and during 2014, a number of them plan to issue property funds worth more than Bt30 billion combined.
This is end of 2013, residential developers are lining up to give their 2013 sales a final push by launching more projects, such as Pruksa Real Estate Plc's latest condominium, the Bt900-million Condolette Pixel at Sathorn.
Sammakorn Plc is introducing its first condo project, the S9 worth Bt1.07 billion, this week, according to a survey in this week.
Ficus Lane Condominium, Penthouse Located strategically between Rama IV and Sukhumvit 44/1, Ficus Lane was launched to the market under the developer brand Cinkara and at the time was Bangkok’s first low-rise resort style boutique condominium.