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New homes hit record

New homes hit record

The property market remains upbeat as the number of newly registered housing units continue to skyrocket.

House-for-sale-Hua-Hin

A total of 125,000 new registrations are expected this year, a 15-year high.

Amid concerns about the high potential of a real estate glut, the Bank of Thailand recently cautioned housing developers to beware of oversupply, particularly of condominiums along skytrain routes, and potential mortgage defaults by homebuyers.

Lenders have also tightened their mortgage criteria by cutting loan-to-value ratios to prevent speculation in the wake of high household debt. But that has not yet cooled down the property market, which enjoyed a post-crisis high for new registrations last year and is on track for another record this year.

The second-highest single house prices can be found at Granada Pinklao, located in western Bangkok and averaging 82.3 million baht.

 

via New homes hit record

 

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