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Launch value down

source: Bkk Post Aug 19 2008 The value of new property projects launched in July was down by 50% from June, according to the real estate consulting firm Agency for Real Estate Affairs. The AREA survey showed that 21 new projects were launched in July with 3,820 units worth 10.15 billion baht. The greatest drop was in condominiums with only 1,033 units, down by 67.47% from 3,176 units. The value dropped to 3.13 billion baht from 9.07 billion. The largest drop in value was in townhouses with 1,076 units worth 1.39 billion baht, down 61.7% from 3.63 billion in June. Significantly, AREA found that detached houses took over the lead from condominiums in July with 1,161 new units (30.4%) worth 4.256 billion baht (41.9% of total value). The company said fewer new condominiums might reflect high remaining supplies, and increasing construction costs that have hurt small developers in particular.

 

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