Do you know about - Condominium Sales In 2011
Mortgage Interest Rates Forecast! Again, for I know. Ready to share new things that are useful. You and your friends.There are mixed signals advent from the real estate store in Bangkok in terms of predicting what will happen with condominium sales in Bangkok in 2011. A whole of factors are adding to this uncertainty although it doesn't appear to be slowing down developers as the top 10 clubs in Bangkok alone have over 200 projects planned for this year with half of them being condominiums.
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One of the key factors that could influence condominium sales is the new central bank ruling that mandates a stricter loan-to-value ratio for condominium mortgages. The new cap of 90% was put in place to curb over-speculation in the store because of the central bank's interest in avoiding any semblance of a real estate bubble forming.
Other factors that could weigh on the store include an oversupply of units and an end to some government incentives that have helped drive new demand. Prices have spiraled upward in new years in spite of the many troops that have influenced the local store here and the cheaper in general. This has not hurt query but a composition of the above-mentioned factors plus the probability of higher interest rates may slow this pricing trend.
On the other side of the coin are the large whole of projects that are being developed in the city and suburbs, a whole of which are to be located near the new Purple Line of the Skytrain, one of Bangkok's two mass-transit train operations. Living close to the trains in Bangkok has been a prime motivator in housing sales in the last any years as traffic continues to be a qoute in the Thai capital.
And, asset developers themselves seem to be uniformly optimistic for this year, expressing the feeling that while things may slow slightly in the first part of the year due to the uncertainties about interest rates and the current oversupply, that in the long term the store will be robust and continue as it has for the past few years.
Newspaper reports have put the take-up rate of condominiums at 40-50% in new months compared to a fairly uniform 70-90% in years past. This has served to allay overheating fears somewhat but the 90% cap seems to be here to stay for the moment. However, this is a tool that the central bank can use at any time to fine tune the real estate market. If sales slow and the possibility of a bubble recedes then the central bank can make changes as it sees fit to equilibrium the situation.
Whatever happens in the next few months it appears as if the long-term diagnosis is solid. There is active government involvement in the sector to prevent over-speculation. Local developers have viable and varied projects planned and have the principal financial resources to carry out their plans. And the banks have not over-extended themselves nor made shaky loans, one of the factors that led to the huge collapse of the U.S. Real estate market. Time will tell but plane sailing appears to be the forecast in Bangkok's condominium market.
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