<\/strong>In just a few days, we will step into 2019, which could be described as a concerning year for the real estate market. Many are worried about whether the condominium market will experience a bubble, along with the issue of condo buyers turning into speculative investors. Chinese investors have also been active this year, with certain locations heating up significantly. New projects tend to cluster closely together. Today, as we approach the end of the year, TERRABKK will review the condominium landscape in Bangkok and its vicinity throughout 2018.<\/strong><\/span> We will look at how many new condominiums were launched each quarter and, as always, highlight TERRA’S PICK for the standout projects of the quarter. Let's start with the first quarter.

Condominium Situation in Q1/2018 (January-March 2018)<\/strong><\/span><\/p>

            <\/strong>The year began with a resurgence in the Ratchada-Huai Khwang-Rama 9 area, which has been quite strong since the start of the year. This quarter, it dominated as the location with the most new condominium projects launched. Overall, in Bangkok and its vicinity, there were 34 new projects totaling 17,083 units, with over 4,200 units in the Ratchada-Huai Khwang-Rama 9 area. Following closely was the Chatuchak-Ratchayothin area, which also performed well, with over 3,200 new units due to the green line extension taking shape, leading to a significant number of new projects around the Ratchayothin intersection, with new launches almost every quarter.

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TERRA’S PICK for Q1 Highlighted Projects<\/strong><\/p>

            For the standout projects of Q1, the team has selected two projects: MUNIQ Langsuan<\/span> and The Reserve Sukhumvit 61<\/span><\/strong>. The TerraBKK team believes these are condominiums that offer great value in a rare location<\/span>. MUNIQ Langsuan is a freehold project priced like a leasehold, which is quite rare in the Langsuan area. The Reserve Sukhumvit 61 is also located near BTS Thonglor, with a price of 230,000 baht per square meter, while other projects have already reached 300,000 baht per square meter. Therefore, TerraBKK Research has chosen both projects as the highlighted projects for Q1.

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Condominium Situation in Q2/2018 (April-June 2018)<\/strong><\/span><\/p>

            <\/strong>Entering Q2, the number of new projects was slightly lower than in Q1, with 24 projects totaling 10,403 units. The interesting area for this quarter was the Ari-Sapan Khwai-Chatuchak zone, which had over 2,600 new units. Additionally, the blue line extension (Charan) continued to see new project launches, mostly from medium to small developers.

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TERRA’S PICK for Q2 Highlighted Projects<\/strong><\/p>

               The standout projects for Q2 are Noble AROUND Ari<\/strong><\/span> and CONNER Ratchathewi<\/strong><\/span>, both considered Rare Items in the Ari and Ratchathewi locations<\/span>. Noble AROUND Ari is truly a local gem in the Ari area, occupying prime land along Phahonyothin Road and just 90 meters from BTS Ari station. It can be considered a rare item in the Ari area, as we haven't seen new condominium projects there for a long time. As for CONNER Ratchathewi, the name may not be familiar as it is from a new and energetic developer, but this project stands out in the rare location of Ratchathewi, right next to the Ratchathewi BTS station.

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Condominium Situation in Q3/2018 (July-September 2018)<\/strong><\/span><\/p>

               We have arrived at the peak quarter of the year, which saw the highest number of condominium launches, with 50 projects totaling 25,002 units. The area with the most launches was Sukhumvit, particularly Thonglor-Ekkamai, which was exceptionally hot, as the new projects were so close together that it was hard to distinguish which plot belonged to whom. Additionally, the Ratchayothin-Sena Nikhom area continued to see new condominium launches, with prices rising rapidly.

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TERRA’S PICK for Q3 Highlighted Projects<\/strong><\/p>

               The standout projects for this quarter are XT Ekkamai<\/strong><\/span> and Piti Ekkamai<\/span><\/strong>, both new brands worth watching, with interesting aspects. They are located less than 500 meters apart and are launched under major companies like Sansiri and Sena. However, they differ greatly in concept: Piti Ekkamai emphasizes a calm and simple lifestyle, while XT Ekkamai focuses on a dynamic lifestyle.

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Condominium Situation in Q4/2018 (October-December 2018)<\/strong><\/span><\/p>

               As we reach the end of 2018, the real estate sector is experiencing a mix of excitement and anxiety due to the Bank of Thailand's new "credit control measures" set to take effect on April 1 of next year. However, developers continue to launch new projects, with more launches than in Q4 of last year, totaling 45 projects and 22,558 units. The activity remains strong in Thonglor-Ekkamai, as well as in Bangna, where many new condominiums have emerged compared to other quarters.

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TERRA’S PICK for Q4 Highlighted Projects<\/strong><\/p>

               For Q4, we conclude the year with two luxury projects: Park Origin Thonglor<\/strong><\/span> and Tait12<\/strong><\/span>, both located in exclusive areas. Park Origin Thonglor is a large project from Origin, situated in Soi Thonglor 10, an important alley connecting Thonglor and Ekkamai. Tait12 from Raimon Land is located in Soi Sathorn 12, which connects Silom and Sathorn, a key CBD area in Bangkok.

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               How do you find this overview of the condominium market in 2018 as it comes to a close? Next year is expected to be a challenging year for the real estate sector, especially the condominium market, as purchasing power seems to be slowing down. However, we must continue to monitor developments, as next year will bring significant changes, including the credit control measures from the Bank of Thailand and the upcoming elections in Thailand, which will be crucial indicators of the future of the Thai economy. - เทอร์ร่า บีเคเค<\/p>