Thai Buyers Remain Bullish About The Bangkok Residential Property Market
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Listed property developer Raimon Land, in its Condominium Focus Bangkok Update, reports that local Thai buyers are responsible for more than 90% of all condominium sales in Central Bangkok.
The Thai economy's dramatic recovery and 5.8% growth in the fourth quarter of 2009 has led to a return of confidence in the real estate sector, in spite of continuing political uncertainties and the threat of demonstrations in the capital.
Earlier in 2009 several listed developers held back project launches amid global economic uncertainty which particularly affected sentiment among foreign buyers. The report reveals that in the fourth quarter of last year condominium pre-sales by listed developers totalled THB15.1 billion or a 380% increase over the same quarter in 2008.
Property Report quoted a spokesman from Raimon Land as saying "One of the key findings of our research is that demand from Thai buyers has been remarkably strong with many developers now turning their attention to this target group. At Raimon Land, Thai buyers now represent two-thirds of our sales, gaining significant ground over the foreign demand that was prominent over the past two years.”
Earlier in 2009 several listed developers held back project launches amid global economic uncertainty which particularly affected sentiment among foreign buyers. The report reveals that in the fourth quarter of last year condominium pre-sales by listed developers totalled THB15.1 billion or a 380% increase over the same quarter in 2008.
Property Report quoted a spokesman from Raimon Land as saying "One of the key findings of our research is that demand from Thai buyers has been remarkably strong with many developers now turning their attention to this target group. At Raimon Land, Thai buyers now represent two-thirds of our sales, gaining significant ground over the foreign demand that was prominent over the past two years.”
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