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Low-rise permits show big drop

Tuesday, 29 July 2008

source: Bkk Post July 28 2008 The number of new land allocation permits for low-rise units in the first half declined by 26% year-on-year with a major drop found in Bangkok, according to Bureau of Real Estate Business Promotion of the Land Department. In Bangkok, the number of new land allocation permits and subplots dropped by 38% and 11.8% respectively. Among 36 permits, some were sought by large developers including Land & Houses (LH), Preuksa Real Estate (PS), Quality Houses and Sansiri (SIRI) and middle-sized developers including Rasa Property Development and Sena Development. Bangkok's four neighbouring provinces were more active with a total of 59 permits. Samut Prakan had the largest number of permits, followed by Pathum Thani, Nonthaburi and Samut Sakhon. In Samut Prakan, well-known developers seeking permits were LH, Magnolias Quality Development Corporation (MQDC) and Ananda Development. All were in Bang Phli district. PS was the most active in Pathum Thani with five permits in Klong Luang and Thanyaburi. Others were Prinventure and Sena Development. In Samut Sakhon, two of the three permits were sought by the Property Perfect subsidiary Krungthep Land & House. In Nonthaburi, listed developers applied for 11 of the 15 allocation permits. They were Supalai, LH, QH, SIRI, Areeya and Prinsiri's subsidiary Prinventure. In other provinces, Chon Buri was the most active with 24 new permits, 16 in Bang Lamung, followed by Chiang Mai and Prachuap Khiri Khan - all in Hua Hin. The only listed developer active in the provinces was LH with a housing estate in Khon Kaen's Muang district. The bureau reported that among five categories of subplot properties, the number of new land allocation permits for shophouses in both Bangkok and the provinces was down sharply. However, the other four types of property in Bangkok and provinces moved in opposite directions. The number of new land allocation permits for single houses, duplex houses and land plots dropped year-on-year in Bangkok but rose in the provinces, while those for townhouses increased in Bangkok but decreased in the provinces.

 

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