Thailand saw strong growth in launches of new property projects in the first quarter with a total of 28,683 units, up 28.4% yearon-year, with the value rising 35% to 68.75 billion, according to Agency for Real Estate Affairs.
AREA said the average price per unit in the first quarter was 2.397 million baht, compared with 2.279 million in the same period last year.
However, it projects that overall launches this year will total 108,995 units, down 7% from last year, with the value declining 14% to 261.25 billion baht.
The company said its projection reflected the fact that 2010 featured an unusually high number of new launches of new units as property tax incentives were still available in the first half of that year.
AREA’s database shows that new launches over the past several years averaged around 60,000 units worth about 180 billion baht a year.
Source: The Nation