Bangkok Condominium Market Report Q1/2012

7/31/2019 Bangkok Condominium Market Report Q1/2012

1/13

Q4 2011 - Q1 2012

new Supply

lAunCHeS

pRICeS

TAKe-up

THAIlAnd

.cirs.c.th

Bangkok Condominium Market

HIGHlIGHTS

Nw lnchs in Q1 2012 rmticlly incrs frm Q4 2011, hihst in th pst fr

qrtrs.

Within rbn Bn, th Nrthrn Frins l th wy in nw lnchs with rn 20% f

th whl f Bn. Th Sbrbn r ccnt fr rn 39% f th ttl.

Therewerearound2,850unitsofnewsupplyinQ12012,asignicantdecreasefromthe

previousquarter.Sincetherstquarterof2011untilQ12012,thenumberofnew

cnminim spply cmplt n ristr ps crsin.

Theoodslastyearcausedmuchpotentialforcondominiumprojectsinthecityareabecause

thereisnooodinthecityanditismoreconvenienttocommute.

Nw lnchs fr Q1 2012 incrs

signicantlycomparedtothepreviousquarter

by pprximtly 9,000 nits. Mr thn 14,170

nits wr lnch in Q1 cmpr t rn

5,157unitsinQ42011.Someprojectsaected

bytheoodinQ4,2011postponedtheirlaunch

t Q1, 2012. This ws th hihst nmbr

recordedinthepastvequarters.

Q1 2012 | Condominium

mARKeT IndICAToRS

newly lAunCHed CondomInIum unITS duRInG THe yeAR 2011 Q1 2012 by QuARTeR

Src: Cllirs Intrntinl Thiln Rsrch

BaNgkok CoNdoMINIuMMaRkeT RePoRT


2/13

Mostnewprojectslaunchedintherstquarterornearly8,700units

wr -in urbn Bn.

amnst this nmbr, th Nrthrn Frin r in rbn Bn

shw th hihst nmbrs with nrly 3,000 nits r 20% frm th

totalbeingbacked-upbyalarge-scaleproject,SuphalaiWellington.The

otr City - est r ws scn, with 2,200 nits.

Rprts shw pprximtly 2,900 nw cnminim nits cmplt

n ristr t th dprtmnt f Ln in Q1 2012. Th ttl nmbr

f nits in th ntir Bn rin ws pprximtly 326,700 nits

t f which mr thn39,500 nits r schl t b cmplt in

2012.

Src : Cllirs Intrntinl Thiln Rsrch

Src: dprtmnt f Ln, Cllirs Intrntinl Thiln Rsrch

Remark:ThenumberofunitsdoesnotincludeprojectsfromtheNationalHousingAuthority

newly lAunCHed CondomInIum unITS In Q1 2012 by loCATIon

AddITIonAl Supply by QuARTeR

COLLIERS INTERNATIONAL | P. 2

Bangkok Condominium market rePort | Q1 2012


3/13

ToTAl HISToRICAl Supply by loCATIon To Q1 2012


Src: dprtmnt f Ln, Cllirs Intrntinl Thiln Rsrch

Thr r mr thn 195,000 cnminim nits r rn 65% f th

ttl, lct in Sbrbn Bn r s wll. Within th rbn

Bn r, th Nrthrn Frin cntins th mst nmbr f nits

bcs f its prximity t th city cntr, mss trnsit cnnctins n

rltivly lwr ln prics cmpr t th City r. Th otr City

rs r pprin n th rr scrn t bcs f th xtnsin f

th BTS crss th Ch Phry Rivr n ln Shmvit R. This

is st t cntin.



4/13

FuTuRe Supply uRbAn bAnGKoK

TAKe-up


apprximtly 30,894 nits r schl t b cmplt in 2012. Th

Nrthrn Frin r cntins s y plyr in rbn Bn, with

nrly 11,800 nits schl t cmplt in 2012, fllw by th City

r with rn 6,200 nits. It is xpct tht th Nrthrn Frin will

cntin t mint th spply fr th rly prt f th c in rbn

Bn.

Th t-p rt in th otr City - Wst r is th hihst, fllw by

theSuburbanBangkokandEasternFringeareas.Thepositivegures

fr th otr City - Wst r th rslt f pplr nwly lnch

projectfrom AnandaDevelopment. Manybuyersare postponingtheir

cisins frm lst yr t this qrtr, s th vr t-p rt - this

qrtr will mst lily b hihr thn in th prvis qrtr.


Rmr: Spply s nt incl nits in Sbrbn Bn


CumulATIve FuTuRe Supply SCHeduled To be CompleTed duRInG 2012 2014 by loCATIon In uRbAn bAnGKoK (AS oF Q1 2012)

AveRAGe SAleS pRopoRTIon oF newly lAunCHed unITS In Q1 2012 by loCATIon



5/13

kPN grp Crprtin Lt lnch

newprojectonPetchburiRoadintherst

qrtr f 2012, Th Cpitl emi

Thnlr. althh thr is hih

cmptitin in th cnminim mrt nPtchbri R, _Th Cpitl emi

Thnlr ws sl t within mnth. Th

project oers high quality product, good

sin n rt fcilitis s wll s vl

fr mny t ttrct byrs n ths,

ws sl t within shrt pri.

HQ Thonglor by

Snsiri hs shwn

n rt prfrmnc in 1Q 2012, sllin 197

units in one day The project is located on

Thnlr R in th City r. Mny f thnits r n-brm f rn 40.5 - 55.5 sq

m. Sm r plx.

ann dvlpmnt rtrn

t th cnminim mrt with

Ideo MoBI lnchin fr

projects in four dierent

lctins t th sm tim. alloftheIDEOMOBIprojectshada

hih t-p rt f mr thn

80% shrtly ftr th initil lnch. Th rt sllin pint f th Ideo

brandislocationasalloftheIDEOprojectsareclosetotheBTSorMRT

sttins.

City Rsrt Rtch

Huaykwang by Supalai Plc.

launched its new project on

Prchrtbmpn R tht

rslt in psitiv t-p

rt f mr thn 80% f th875 nits. Th ttrctin ws

th strtin pric which ws

approximatelyTHB48,000persqm.

lAunCHeS wITH HIGH TAKe-up RATeS In Q1 2012




AveRAGe SellInG pRICeS oF newly lAunCHed pRojeCTS by loCATIon, Q1 2012

ThehighestaveragepriceintheCityareaismorethanTHB113,500per

sq m, hwvr this is still lwr thn th vr sllin pric in 2011 by

approximately 5%.becausemostnewlylaunchedprojectsin theCity

r nw r lct frthr frm th BTS Th vr sllin pric in

theOuterCity-Westareasecondsbecausenewprojectsinthisarea

r lct nly wlin istnc frm th BTS sttin.


6/13


7/13


CumulATIve CondomInIum unITS lAunCHed AlonG THe bTS exTenSIon lIne (THe blue lIne)

FRom beFoRe THe yeAR 2005 To 2011 on THe mAIn RoAd

Duringthelastquarterof2006thegovernmentannouncedocialplans

forvemasstransitextensionlines,startingwiththeconstructionofthe

Prpl n Bl Lins in 2009 n 2011, rspctivly. Th Prpl Lin

will strt frm Bn S Sttin n rn t Nnthbri. Th Bl Lin t

westernBangkokwillhavetwoextensionlines,therststartingfrom

BangSueStationandthesecondstartingfromHuaLamphongStation.

Th Thpr Sttin will b th trmins, bt n lin will cntin n t

Bn ln Phtsm R.

ManycondominiumprojectswerelaunchedalongtheBlueLineduring

th pst six yrs, spcilly n Phtsm, Chrnsnitwn,

Boromarajonaniandotherroadsinter-connectingwiththesemainroads.

Nrly 86% f th ttl spply lnch sinc 2009 - 2011 ln th lin

wr vlp by list cmpnis.

Theaveragetake-uprateofprojectsalongthislineismorethan70%,

especiallythoseonPracharat1and2Roads,Phetkasem,Boromarajonani

n Chrnsnitwn Rs. This is bcs mst ppl frm th

wstrn si f th Chpry Rivr wr in th City r s ns mr

cmfrt in trvllin t wr in rr t sv tim.

Mss trnsit rmins y fctr in ttrctin vlprs n byrs.

However,thecloseritistotheCitythebetterasmostresidentialprojects

onthe outskirts of Bangkok are low-rise housing projects selling assimilr prics s cnminims. Sm byrs prfr byin hss

whn cmpr t cnminim nit.




8/13COLLIERS INTERNATIONAL | P. 8

Th rwth rt f hsin lns incrs nly 0.7% frm Q3 Q4

2011duetotheoodinginThailand.Thersthomemortgagepolicy

lnch by th vrnmnt in Q3, 2011 i nt ttrct byrs t

prchs n trnsfr rsintil nits. It ws -fr blw th trt f

THB20 billion set for the whole project expiring at the end of 2011

Mrvr, it int mtch th mn f th mrt hnc th Ministry f

Financeintendstorevisetherst-homemortgagepolicyonceagain.

Src: Bn f Thiln n Cllirs Intrntinl Thiln Rsrch

Note:Excludesnegligibleamountsofnancingfromothersources.Percentagechangeiscomparablequarter-on-quarter.

HouSInG loAnS FoR peRSonAl ConSumpTIon exTended by FInAnCIAl InSTITuTIonS

FInAnCInG





FoReCAST

Asaresultofoodinginthelastquarterof2011,mostdevelopersin

Bangkok are focusing more in the rst half of 2012 tn launch new

projectswithavarietyofmarketingcampaignstoattractbuyers.The

oodingalsoincreasedcondominiumdemandintheurbanBangkokarea

s it is mr cnvnint fr victims t cmmt.

ThenewBangkokTownPlanremainsamajorconcernfordevelopersas

mst f thm inclin th thr min rl stt sscitins in

Thiln pps t th nw twn pln. Th rsn bin tht th ltst

rft f th nw Bn Twn Pln incls rltin inst

bilin hihr thn 23 mtrs r bir thn 10,000 sq m n rs tht

r nrrwr thn 16 mtrs. Mst rs n sis in Bn r

nrrwr thn 16 m, thrfr, if ths nw twn plns r rls in

thefuture,developerscannotbuildhigh-risecondominiumprojectson

landinsmallroadsandsoisofBangkokwhichwillalsodirectlyaect

ln prics. Th dprtmnt f City Plnnin Bn Mtrplitn

administratorhasstillnotnalisedthenewBangkokTownPlaninthe

rstquarterof2012astherehasbeenmanycomplaintsfromdevelopers,

landowners,andpeopletobeaectedbythenewTownPlan.

Lr, list vlprs with strn rpttin mint thcnminim mrt n thy r fcsin mr n th mil- t lw-

n mrt tsi th rbn Bn r. Mst f th mn in

Bangkokisforaordablecondominiumunitswithasellingpriceofless

thanTHB3millionandalldeveloperscontinuetotargetthisgroupin

2012.



AppendIx




ZonInG

HISToRICAl Supply by yeAR

CumulATIve Supply In bAnGKoK



12/13

CITY AREA

Theareacoversfouradjacentbutcompetingsub-markets:theSukhumvit

sctin cmprisin Shmvit R btwn Si 1 n Si 55 t th

nrth n Si 2 n Si 38 t th sth; th Cntrl Lmpini sctin

inclin Phln Chit R, Rm I R, Si Lnsn, Si Srsin,

Chitlm R, Rtchmri R, Witthy R n Rchprsn

Road;theSilom/Sathornsection;andtheRiversidesectionfrontingthe

Ch Phry Rivr ln Chrnrn R n Chrnnrn R,

whereseveralve-starhotelsarelocated.TheCityareaisconvenient

fr bsinssprsns, xptrits n trists, bcs f its prximity t

manyocebuildings,retailingandlocalattractions.

CITY FRINGE AREA

This r cvrs thr prts f Bn:

nrthr Frig:

This sctin cvrs th BTS rt strtin frm Rtchthwi Sttin t

M Chit Sttin t th nrth n th MRT rt strtin frm Ptchbristtin t Bns sttin t th nrth.

Sthr Frig:

This sctin cvrs Nrthiw Rtchnrin R, Chn R,

Sthprit R, Chrnrn R n Rm III R ln th Ch

Phry Rivr.

eastr Frig:

This sctin cvrs th BTS rt strtin frm Thn Lr Sttin t on

Nt Sttin t th st, Rm IV R n Ptchbri R.

This r cvrs lctins with thir wn lcl infrstrctr n

convenient transportation. However, commuting is required to have

ccss t th cntrl bsinss n ntrtinmnt rs.

OUTER CITY AREA

Th r cvrs tw prts f Bn:

otr Cit (east):

This sctin strts frm th xtnsin f th BTS rt t on Nt Sttin

t th Bn bnry t th st.

otr Cit (wst):

This sctin strts frm th xtnsin f th BTS rt t Tsin Sttin

t Bn W sttin, which incls th r frm krn Thnbri R

t Rtchphr R nr Ptchsm intrsctin.

SUBURBAN BANGKOK

Ths r th nvirns tsi th rs lry mntin. expnsin

f th mss trnsit systm is th min trminnt fr incrsin ftr

spply in prticlr r. Th xpnsin frm on Nt t Smt Prrn

is schl t b cmplt in 2011. Th xpnsin f th BTS will

benet directlythesurroundingcondominiums,as itwill considerably

rc trnsprttin csts n tim. This will ncr th vlpmnt

f nw cnminims in this r. Sbrbn Bn rprsnts th

bist r n fr th prpss f this rprt n incls Bn

citys l twn (kh Rttnsin r n bnry r). This lctin

hs cmprhnsiv twn plnnin cntrls rstrictin bilin hiht, s

therearenocondominiumprojectsinthearea.




13/13


CollIeRS InTeRnATIonAl THAIlAnd

mAnAGemenT TeAm

PRoJeCT SaLeS & MaRkeTINg

Mnchi orwnpisn | Snir Mnr

ReSIdeNTIaL SaLeS & LeaSINg

Npswn Chtphr | Mnr

RESEARCH

Tny Picn | asscit dirctr

Srcht knchp | Snir Mnr

oFFICe & INduSTRIaL SeRVICeS

Nrmn Rsirvrpht | asscit dirctr

ReTaIL SeRVICeS

ashrwn Wchnnnt | asscit dirctr

ADVISORYSERVICES|HOSPITALITY

Jn Mrc grrt | dirctr

adVISoRY SeRVICeS

Nptr Tinchtim | asscit dirctr

ReaL eSTaTe MaNageMeNT SeRVICeS

Prsrt Siphrwn | Snir Mnr

INVeSTMeNT SeRVICeS

Nrn Swtil | asscit dirctr

WasanRattanakijjanukul|SeniorManager

VaLuaTIoN & adVISoRY SeRVICeS

Phchsnn Phrmthnnnt | dirctr

Wni Sswn | Mnr

PaTTaYa oFFICe

Mr Bwlin | Snir Sls Mnr

SupanneeStarojitski|SeniorBusinessDevelopment

Manager/OceManager

HUAHINOFFICE

Snchi kchi | Snir Mnr

ReSeARCHeR:

ThilnSrcht knchpSnir Mnr | Rsrch

emAIl [email protected]

522ocesin62countriesn 6 cntinnts

This rprt n thr rsrch mtrils my b fn n r wbsit t www.cllirs.c.th. Qstins rlt t

infrmtin hrin shl b irct t th Rsrch dprtmnt t th nmbr inict bv. This cmnt hs

bn prpr by Cllirs Intrntinl fr vrtisin n nrl infrmtin nly. Cllirs Intrntinl ms n

rnts, rprsnttins r wrrntis f ny in, xprss r impli, rrin th infrmtin inclin, bt

nt limit t, wrrntis f cntnt, ccrcy n rlibility. any intrst prty shl nrt thir wn

inqiris s t th ccrcy f th infrmtin. Cllirs Intrntinl xcls nqivclly ll infrr r impli

trms, cnitins n wrrntis risin t f this cmnt n xcls ll libility fr lss n ms risin

therefrom.ColliersInternationalisaworldwidealiationofindependentlyownedandoperatedcompanies.

a lr in rl stt cnsltncy wrlwi

2ndmostrecognizedcommercialrealestatebrandglobally2n lrst prprty mnr

1.25 billin sqr ft nr mnmnt

ovr 12,300 prfssinls

CoLLierS internationaL thaiLand:

Bangkok Ofce17/FPloenchitCenter, 2 Shmvit R, klnty,Bn 10110 Thiln

Tel +662 656 7000

FAx +662 656 7111


Pattaya Ofce519/4-5,PattayaSecondRoad(OppositeCentralFestivalPtty Bch), Nnpr, Bnlmn, Chnbri 20150

Tel +6638 427 771

FAx +6638 427 772

emAIl [email protected] Hin Ofce27/7,PetchakasemRoad,HuaHin, Prchp khiri khn 77110 Thiln

Tel +6632 530 177FAx +6632 530 677


acclrtin sccss.

Documents

Bangkok Condominium Market Report Q1/2012