Thai Developers Aim High

• 31 December 2015
• Property Focus
• 2050 Views

250 of Myanmar’s top real estate executives and industry leaders gathered in Yangon on 17 June to celebrate the first annual Myanmar Property Awards 2015.

Record-breaking prices and sales were seen achieved in some new condominiums in downtown Bangkok downtown. More than 90 percent of Nimit Langsuan, a freehold condominium by Pace Development, was sold within the first month of its launch with prices in excess of THB 300,000 per sqm.

The report showed more than 78,000 midtown and suburban condominium units are expected to be completed this year, and more than 32,000 units will be completed in 2016.

CBRE believes that success was limited to projects that matched buyers’ expectations in terms of location, quality, design, and specifications to justify the high asking prices.