News Forum - Raimon Land unveils 18 billion baht luxury projects amid bolstered high-end market confidence

[Thaiger]

Raimon Land Plc, a stock exchange of Thailand (SET)-listed property developer, is confident in the high-end residential market and revealed plans for three new luxury projects worth 18 billion baht in Phuket and Bangkok. Raimon Land plans to launch the projects in the fourth quarter. Korn Narongdej, the chief executive, made known that the luxury … …

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[Aussieroaming]

More new condos go on the market which is already saturated. Owners of existing condos watch as their properties lose value year on year due to over supply and meanwhile new condos are constantly being built and sold around them. 

In my area alone I would guess that at least 10 new condos have sprung up in the last 5 years within a 500 metre radius of our condo building and I am sure that similar projects have sprung up all over BKK. 

This property market is definitely set up to benefit property developers at the expense of the property owners. My advise would be...buy a property in BKK which has land associated with it, as land values show strong property growth. Condos are a risky proposition.