Tourist arrivals continued to recover in the quarter, boding well for the property market on the Thai vacation isle.
The total stock of completed resort standard condominium was approximately 3,000 units, up 3% Q-o-Q and 31% Y-o-Y, according to CBRE, which estimated that approximately 84 per cent in completed of condominiums have been sold. Three condo projects were completed in the quarter and the average asking price of condominiums by developers was approximately THB 90,000 per sqm.
The total stock of completed villas in Q3 2010 was 2,787 units – no new supply entered the market.
CBRE said that total sales performance of total existing and future villa units was 77 per cent. Our of 3,749 villas, 2,897 units had been sold and 852 were still for sale. The sales rate of all existing and future luxury and high-end units was 74%. Out of 880 luxury and high-end units, 653units were sold as of Q3 2010, leaving 227 units remained unsold.