Natta Kahapana, Deputy Managing Director and Chief of Operations Knight Frank on Phuket, Knight Frank Thailand Co. Ltd., said that in the third quarter of 2021, given the intense uncontrolled spread of Covid-19, which led to another lockdown, introduced by the government, only real estate development companies registered on the stock exchange were able to start new projects.
In addition, they cautiously launched projects, focusing on the testing of purchasing power in the market. In the fourth quarter, there was a positive mood in the condominium sector after the country was opened.
A survey and analysis conducted by the Knight Frank Research Unit in Thailand showed that the supply of new condominium projects launched in the third quarter of 2021 was 2,312, which is 70.8% less than the same period last year. It also decreased by 13.05% compared to the previous quarter. The number of newly commissioned condominiums located in the suburbs was 77%, or 1,608 units, while on the outskirts of the city, there were 30% of new housing units.