Realty Access Source: Bank of Thailand and The Department of Land, Ministry of Interior-Phuket.
Despite the politics, the Thai price index for single detached houses rose by 4.9% (4.11% inflation-adjusted) during the year to end-Q4 2014, after annual house price rises of 4.19% in Q3, 4.81% in Q2, and 5.71% in Q1 2014, according to the Bank of Thailand (BOT).The condominium index soared by 14% (13.18% inflation-adjusted), and is actually a more relevant index. Condominiums are what Bangkok people, including foreign homebuyers and expatriates, tend to live in. The longer-established detached houses index over-represents the rural population.
The price index for townhouses rose by 6.60% (5.82% inflation-adjusted), and the residential land price index surged by 6.36% (5.59% inflation-adjusted).
Strong economic growth has pushed the Thai price index (Phuket focus) for single detached houses up by 5.71% (3.74% inflation-adjusted) during the year to end-Q1 2014, after annual house price rises of 5.61% in Q4, 5.34% in Q3, and 6.17% in Q2 2013.
Producing a year end increase by more than 21%.
“Property prices in Thailand remain very attractive by international standards, for example at least four times cheaper than Singapore, said Apichart Chutrakul, Sansiri’s CEO and Co-founder.
With strong economic fundamentals, the market also offers good prospects for capital gains, with quality high-end and luxury projects in the best locations ensuring maximized capital appreciation in the long-term.”