Why Thai house wriggling is a major reason for a huge surge in Thai house prices
Thailand’s house prices have rocketed by almost 50 percent in the past year and are set to reach an all-time high next year.
Thai home prices are now expected to hit a record high of 8,300 baht ($1,100) per square meter, which is equivalent to more than 20 times the average monthly income of a Thai family of four.
As of the end of June, house prices in Thailand hit a new all- time high of 7,200 bahts ($1) per sq. meters.
According to a new study conducted by real estate consultancy ApartmentBuilder, Thailand’s average house price is set to surpass the global average in the next five years.
The average price of a 1,000 square meter house in Bangkok was 2,400 bahttps in March of 2018.
According the report, the rise in house prices is mainly driven by the growth of new housing developments, which have also seen a massive rise in demand for property and rental properties.
The Apartmentbuilder report also showed that the average price in Bangkok has increased by more than 50 percent since January of 2018, from 3,400 to 4,600 bahtz.
This is largely due to the increase in land and infrastructure spending by the government.
The real estate market is still relatively weak in Thailand, as the country still has low housing demand and a lack of affordable housing.
The report stated that the country is also facing an unprecedented number of construction jobs.
In 2018, there were a total of 4.5 million new construction jobs, a number that has increased from 2.5 to 3.1 million over the past five years, and this number will likely continue to rise in the coming years.
ApartmentBuilders report said that there were currently 2,716,000 housing projects underway in Thailand.
This figure represents an increase of 50 percent over the previous year.
In addition to the construction boom, the government has also spent billions on infrastructure spending, including building the Chao Phraya Bridge, a high-speed rail link between Bangkok and the provinces of Phuket and Thongthai.
In a press release, Apartment Builder said that these new infrastructure projects are expected to bring an estimated GDP of about $3.5 trillion by 2035, which could increase the economic potential of the country by up to 7 percent.
ApieceBuilder said that in 2018, Thailand had the third highest GDP growth rate among the world’s fastest growing economies, behind China and India.
The construction boom is expected to further increase the country’s GDP growth over the next few years.