New condominium price index for sale in Q3 2018

The Real Estate Information Center of the Government Housing Bank has compiled a quarterly index of new condominium prices by surveying the sale prices of new condominium projects that are still on the market (with at least 6 units available for sale) in Bangkok and the surrounding provinces of Nonthaburi and Samut Prakan. This index does not include second-hand condominiums, using the prices from 2012 as the base year.

The sampling method for this price index is simple random sampling, with a total of 150 samples. The sale prices used to create this index are actual sale prices, excluding promotional item values from the listed prices.

For Q3 2018, the overall index of new condominiums for sale in the Bangkok and surrounding areas stands at 143.0 points, reflecting an 11.0% increase compared to the same period last year and a 2.8% increase compared to the previous quarter. This increase is attributed to significant progress in the construction of new electric train lines in Bangkok and its vicinity, leading to higher prices for newly launched projects in Q3 2018 compared to the same quarter last year in several locations.

When categorized by area, the index for new condominiums for sale in Bangkok is 143.8 points, which is an increase of 11.7% compared to the same period last year and a 3.3% increase compared to the previous quarter. The index for new condominiums in Nonthaburi and Samut Prakan is 138.6 points, reflecting an 8.0% increase compared to the same period last year and an 8.0% increase compared to the previous quarter.

From this survey, it was also found that the areas with the highest increases in new condominium prices in Q3 2018 compared to the same period last year are:

  • Airport Link area, with a price increase of 35.7% compared to the same period last year, but a decrease of 1.7% compared to the previous quarter.
  • Pathum Wan District, with a price increase of 34.9% compared to the same period last year and a 0.1% increase compared to the previous quarter.
  • Bang Sue-Dusit District, with a price increase of 33.5% compared to the same period last year, but a decrease of 3.7% compared to the previous quarter.
  • Huai Khwang-Jatujak-Dindaeng District, with a price increase of 30.8% compared to the same period last year and a 7.2% increase compared to the previous quarter.

Central Sukhumvit area saw a price increase of 16.7% compared to the same period last year, but a decrease of 10.9% compared to the previous quarter.

In terms of promotional offers in this quarter, 59.1% included gifts such as furniture and appliances, followed by 20.0% offering cash discounts, and 20.9% covering transfer fees for customers.

New housing price index for sale in Q3 2018

In the Bangkok and surrounding areas of Nonthaburi, Pathum Thani, and Samut Prakan

The Real Estate Information Center of the Government Housing Bank has compiled a new housing price index for sale, which includes single-family homes and townhouses. The survey covers the sale prices of new housing projects that are still on the market (with at least 6 units available for sale) in Bangkok and the surrounding provinces of Nonthaburi, Pathum Thani, and Samut Prakan, excluding second-hand homes, using 2012 prices as the base year for comparison.

The sampling method for this price index is purposive sampling, with a total of 245 samples. The sale prices used to create this index are actual sale prices, excluding promotional item values from the listed prices.

In Q3 2018, the new housing price index for sale in Bangkok and the surrounding areas of the three provinces stands at 123.0 points, reflecting a 4.3% increase compared to the same period last year and a 0.4% increase compared to the previous quarter. When categorized by area:

  • Bangkok has an index of 125.0 points, reflecting a 4.1% increase compared to the same period last year and a 0.7% increase compared to the previous quarter.

Surrounding areas (Nonthaburi, Pathum Thani, and Samut Prakan) have an index of 124.0 points, reflecting a 5.0% increase compared to the same period last year and a 0.9% increase compared to the previous quarter.

Considering the new housing price index for sale by type, including single-family homes and townhouses, the changes in the price index are as follows:

  1. Single-family home price index in Bangkok and the surrounding areas of the three provinces stands at 124.0 points, reflecting a 4.0% increase compared to the same period last year and a 0.2% increase compared to the previous quarter. When categorized by area:
  • Bangkok has an index of 128.0 points, reflecting a 4.0% increase compared to the same period last year and a 1.1% increase compared to the previous quarter.

Surrounding areas (Nonthaburi, Pathum Thani, and Samut Prakan) have an index of 122.2 points, reflecting a 4.8% increase compared to the same period last year and a 1.0% increase compared to the previous quarter.

  1. Townhouse price index in Bangkok and the surrounding areas of the three provinces stands at 121.0 points, reflecting a 4.7% increase compared to the same period last year and a 0.6% increase compared to the previous quarter. When categorized by area:
  • Bangkok has an index of 120.0 points, reflecting a 4.2% increase compared to the same period last year and a 0.5% increase compared to the previous quarter.

Surrounding areas (Nonthaburi, Pathum Thani, and Samut Prakan) have an index of 126.3 points, reflecting a 5.3% increase compared to the same period last year and a 0.9% increase compared to the previous quarter.

Thank you for the information from: The Real Estate Information Center of the Government Housing Bank