Where are the townhouses or commercial buildings that are not selling or are selling slowly? Dr. Sopon will highlight these locations for the preparation of land developers, buyers, financial institutions, and relevant government agencies involved in housing planning.

           Dr. Sopon Pornchokchai, Chairman of the Executive Board of the Thai Real Estate Research and Valuation Center, Agency for Real Estate Affairs (www.area.co.th), has conducted a survey and found that some townhouse projects in certain locations may have sales issues, making them products that should not be developed further as they are unlikely to sell. Financial institutions that provide loans for these products may face bad debt issues. However, some projects in this group may not reflect the overall picture, so it is essential to verify the data accurately.

           The ranking of problematic townhouse projects is as follows:

           Rank 1 Location H9: Bangna-Trad Km.30 and above at a price level of 2.001-3.000 million baht or an average of 2.650 million baht per unit, with a very low sales rate of only 0.16% per month. Currently, there are 22 units left for sale, and it is expected to take up to ten years to sell. This group is unlikely to proceed and should not be developed.

           Rank 2 Location A2: Bang Khan-Khlong Luang at a price level of 2.001-3.000 million baht or an average of 2.850 million baht per unit, with a very low sales rate of only 0.36% per month. Currently, there are 22 units left for sale, and it is expected to take up to ten years to sell. This group is unlikely to proceed and should not be developed.

           Rank 3 Location A1: Navanakorn-Khlong Rapeepat at a price level of 2.001-3.000 million baht or an average of 2.900 million baht per unit, with a very low sales rate of only 0.53% per month. Currently, there are 183 units left for sale, and it is expected to take up to 135 months to sell. It is anticipated that construction may not be completed.

           Rank 4 Location D1: Sai Mai at a price level of 5.001-10.000 million baht or an average of 5.628 million baht per unit, with a very low sales rate of only 0.55% per month. Currently, there are 239 units left for sale, and it is expected to take up to 157 months to sell. The price seems too high for this area.

           Rank 5 Location J1: Phra Chul Fort at a price level of 1.001-2.000 million baht or an average of 1.700 million baht per unit, with a very low sales rate of only 0.59% per month. Currently, there are 72 units left for sale, and it is expected to take up to 153 months to sell. It is anticipated that construction may not be completed.

           Rank 6 Location N4: Bang Bua Thong at a price level of 2.001-3.000 million baht or an average of 2.542 million baht per unit, with a very low sales rate of only 0.60% per month. Currently, there are 69 units left for sale, and it is expected to take up to 83 months to sell. It may not be suitable to have commercial buildings in this area.

           Rank 7 Location K1: Rama 2 Km.1-10 at a price level of 3.001-5.000 million baht or an average of 3.995 million baht per unit, with a very low sales rate of only 0.78% per month. Currently, there are 88 units left for sale, and it is expected to take up to 23 months to sell. The price seems too high for this area.

           Rank 8 Location A7: Phaholyothin-Wang Noi at a price level of 3.001-5.000 million baht or an average of 3.916 million baht per unit, with a very low sales rate of only 0.90% per month. Currently, there are 109 units left for sale, and it is expected to take up to 77 months to sell. The price seems too high for this area.

           Rank 9 Location M5: Line 7 Pinklao-Phetkasem at a price level of 3.001-5.000 million baht or an average of 3.500 million baht per unit, with a very low sales rate of only 0.95% per month. Currently, there are 18 units left for sale, and it is expected to take up to 83 months to sell. The price seems too high for this area.

           These products should be redesigned and priced to align with market demand. However, if they are to be sold further, prices may need to be reduced accordingly, which could present a golden opportunity for buyers. Nevertheless, not all projects in these locations face issues; some projects have also been successful.

       Study thoroughly before purchasing.

'Unpromising Townhouses' - Where Are They? A Golden Opportunity for Buyers?
Rank Location Price Level
(Million Baht)		 Sales Rate
/Month		 Remaining
(Units)		 Expected Time
to Sell (Months)
1 H9: Bangna-Trad Km.30 and above 2.001-3.000 0.16% 22 Up to ten years 
2 A2: Bang Khan-Khlong Luang 2.001-3.000 0.36% 22 Up to ten years 
3 A1: Navanakorn-Khlong Rapeepat 2.001-3.000 0.53% 183 135
4 D1: Sai Mai 5.001-10.000 0.55% 239 157
5 J1: Phra Chul Fort 1.001-2.000 0.59% 72 153
6 N4: Bang Bua Thong 2.001-3.000 0.60% 69 83
7 K1: Rama 2 Km.1-10 3.001-5.000 0.78% 88 23
8 A7: Phaholyothin-Wang Noi 3.001-5.000 0.90% 109 77
9 M5: Line 7 Pinklao-Phetkasem 3.001-5.000 0.95% 18 83
Thai Real Estate Research and Valuation Center
Agency for Real Estate Affairs (www.area.co.th)
 

Presenter:
Dr. Sopon Pornchokchai ([email protected]), Chairman of the Executive Board of the Thai Real Estate Research and Valuation Center, Agency for Real Estate Affairs or AREA (www.area.co.th): which is the organization with the largest and most up-to-date field real estate database in Thailand and has been continuously collecting data since 1994. It is a neutral academic data center and professionally independent, not influenced by any stakeholders. Members of the data center receive first-hand information simultaneously.

 

Thank you for the information from  www.area.co.th