Increase in luxury apartments in Bangkok
Increase in luxury apartments in Bangkok, High-end apartment projects will be launched in Bangkok this year, bringing the supply to 22,834 units. Apartment developers are now focusing more on luxury apartments after some projects were delayed due to political instability and the global economic crisis. The average price of new luxury projects increased by at least 4% due to rising real estate and construction material costs. Since the beginning of January 2011, demand from foreign buyers has helped increase the number of apartments launched with prices in the central business district around THB 140,000 per square meter. There were 1,894 luxury apartments completed this year, bringing the total number of apartments to 22,834 units from 20,940 units in 2010. Since the political problems occurred, the majority of foreign investment came from Hong Kong, Singapore, Malaysia, and China, especially in the office and hotel sectors. Moreover, investments in Thaila...