AP to launch 5 condo tasks for 13 billion baht in 2022, early pre-sale positive aspects

AP Thailand is planning to develop 5 house complexes at a projected price of thirteen billion baht in 2022, citing a significant improve in presales in Bangkok’s condo market in Q1 this yr.
The chief of the condominium business group says the condominium market in Bangkok has shown positive indicators within the last six weeks, with AP registered 1.08 billion baht in presales from January 1 to February 15 for a 250% increase 12 months on yr.
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“Mass market apartment with prices of 2-3 million baht a unit is in excessive demand. To keep away from mortgage lending rejection, we will work with monetary companions to assist pre-approve customers’ financial qualifications earlier than the switch period.”
The 5 new initiatives AP has deliberate for this yr are 61% greater than those planned last year. three of them are partnerships with Japanese developer Mitsubishi Estate Group. The whole worth of their sales is projected to be 10.4 billion baht.
In Gift of 2022, AP plans to debut three new condominium buildings in areas the place it expects lots of curiosity, together with the Sukhumvit-Rama IV, Pin Klao-Arun Amarin and Ratchayothin areas, with selling costs starting at 2 million baht.
The real property market in Thailand is projected to stay much less aggressive than pre-pandemic ranges. AP expects 30-40% take up fee for low-rise buildings and 25% absorption for high-rise properties.
According to the Real Estate Information Center, the amount of recent condominium models accomplished in Bangkok in 2021 and 2020 was 21,463 and 29,773 units, respectively — a big drop from fifty four,769 in 2019 and 77,289 items, respectively, in 2018..

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