Condominium developers are expected to face greater challenge in 2019 due to increasing economic uncertainty as well as specific factors affecting condominium market.
For example, the demand for condo has been somewhat absorbed and there are a number of remaining unsold units covering a wide range of prices amid the imbalance between purchasing power and selling price.
Moreover, new regulatory and legal requirements have become effective. These factors have prompted business operators to attach greater importance on their business plan adjustments.
The findings show that more than 77 percent of respondents, who are interested in buying a condo between 2019-2020, said they want to purchase a condo as their residence.
Real demand for condominiums still strong
The real demand for condominiums still exists, as reflected by a survey to determine the demand for residential properties in Bangkok and suburbs by KResearch.
As property developers are now stepping up their marketing promotions to attract homebuyers, this may present a golden opportunity for consumers who are planning to buy a condo. They now have a variety of choices consisting of both old and new projects, covering a wide range of prices, to choose from.
At any rate, since the purchase of residential property is considered a long-term financial liability, the buyers must take into account their debt service ability in the long run together with additional expenses that may incur and affect their ability to pay installments.
Investors more cautious
Investors planning to purchase a condo for renting out may have to be more cautious due to various factors.
For example, the initial cost of investment becomes more expensive because of the Bank of…
