New house prices ‘likely to increase in mid-year’
The President of the Thai Housing Business Association, Issara Boonyoung, has predicted that house prices will be “adjusted upwards” in mid-year, because of higher material and labour costs.
Thursday 23 February 2012, 11:03AM
Mr Issara said that during the transition period between the second and the third quarter of 2012, prices of detached houses, town houses and condominiums will see a gradual increase of 5-10 per cent, as a result of rising costs.
Mr Issara said that condominium prices might increase more than those of detached houses given that the construction of the former requires more material and labour.
However, despite an upward adjustment in prices, Mr Issara speculated that the sales figures for 2012 would be similar to those of last year.