In Bangkok, after the floods increase demand for purchase of apartments in high rise buildings
Flooding, recently struck a neighborhood of Bangkok, has once again reminded urban planners that housing in the capital of Thailand does not meet the safety criteria.
The consequence of a natural disaster will increase the demand for condominiums and housing undrowned areas.
"According to our observations, the number of building permits issued increased high-rise buildings, as developers anticipate that demand will grow," - said Tony Picon, assistant director of research at Colliers International Thailand. He believes that many condominiums will be commissioned in the I quarter of 2012.
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Real estate experts believe it is necessary to adopt new laws governing the construction, which now exist only in draft form.
buildings in residential areas except for areas with important transport hubs. In the center and shopping areas of Bangkok, on the contrary, it is planned to build more facilities.
The key changes relate to restrictions on the construction of buildings, depending on the width of the highway. Previously, high-rise buildings with a total area of over 10 000m ² were allowed to erect along the roads of width 10 m. The new bill would limit high-rise building near the roads narrower than 16-30 m, depending on the area. In addition, the number of floors of buildings will be limited in areas with difficult exit on major urban artery.
"Tighter restrictions means that the property on the periphery will be cheaper. Decrease land prices in some areas, where development is limited depending on the width of the road. This will affect the mood of landlords and developers who have purchased plots in existing legislation. The result could be to reduce the uncertainty of sales transactions in the areas where they will be restricted, "- said Alivassa Patnadabutr, managing director of Thailand's department of CBRE.
According Patnadabutr, home prices in the city center, along the wide roads and close to major transport hubs will grow. "The premises in existing large buildings will most likely go up in value, but it will depend on the design of the building, its condition and maintenance costs," - she said.
Restrictions will control the construction of condominiums and office buildings in downtown Bangkok. This will help avoid oversupply and the formation of "bubble" in the market
Flooding, recently struck a neighborhood of Bangkok, has once again reminded urban planners that housing in the capital of Thailand does not meet the safety criteria.
The consequence of a natural disaster will increase the demand for condominiums and housing undrowned areas.
"According to our observations, the number of building permits issued increased high-rise buildings, as developers anticipate that demand will grow," - said Tony Picon, assistant director of research at Colliers International Thailand. He believes that many condominiums will be commissioned in the I quarter of 2012.
g
Real estate experts believe it is necessary to adopt new laws governing the construction, which now exist only in draft form.
buildings in residential areas except for areas with important transport hubs. In the center and shopping areas of Bangkok, on the contrary, it is planned to build more facilities.
The key changes relate to restrictions on the construction of buildings, depending on the width of the highway. Previously, high-rise buildings with a total area of over 10 000m ² were allowed to erect along the roads of width 10 m. The new bill would limit high-rise building near the roads narrower than 16-30 m, depending on the area. In addition, the number of floors of buildings will be limited in areas with difficult exit on major urban artery.
"Tighter restrictions means that the property on the periphery will be cheaper. Decrease land prices in some areas, where development is limited depending on the width of the road. This will affect the mood of landlords and developers who have purchased plots in existing legislation. The result could be to reduce the uncertainty of sales transactions in the areas where they will be restricted, "- said Alivassa Patnadabutr, managing director of Thailand's department of CBRE.
According Patnadabutr, home prices in the city center, along the wide roads and close to major transport hubs will grow. "The premises in existing large buildings will most likely go up in value, but it will depend on the design of the building, its condition and maintenance costs," - she said.
Restrictions will control the construction of condominiums and office buildings in downtown Bangkok. This will help avoid oversupply and the formation of "bubble" in the market
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