The Nation: Strong demand for luxury condos

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The Nation: Strong demand for luxury condos

14 July 2014

Three luxury condominium projects worth more than 25 billion baht in total will be completed in Bangkok in 2016, with sales prices ranging between 250,000 and 400,000 baht per square meter. The projects are being developed by Sansiri, Quality Houses, and Pace Development. MahaNakhon, which is Pace Development’s mixed-use project combining luxury condo, luxury hotel, and luxury retail complex, is also scheduled for completion in 2016. The development has sold up to 60% of its value. This is split 50:50 between foreign buyers and domestic demand from buyers who purchase both for investment and residential purposes. Prices at MahaNakhon have climbed by more than 20% since presales began three years ago.