First Thai Condo Expo takes off in Bangkok

The Thai Condominium Association is to join with property agency Harrison (Thailand) to host the first Thailand Condo Expo this weekend in an effort to boost condominium sales to 20,000 units this year.

Association President Atip Bijanonda said that although the country's property market has seen only slight growth this year, the condominium market had grown strongly because these days home-buyers are more prone to buy condos near mass-transit systems such as the subway and the Skytrain.

At the same time, others have been buying condominiums with the intention of renting them and generating a return of between 7% and 10% on their investment, higher than normal deposit interest rates.

If the trend continues, the association expects annual sales of condos to reach 20,000 units, up 53% over last year. The Thailand Condo Expo 2006 aims to support that target. It will be held over three days from November 24 at the Bangkok Convention Centre, Central Plaza Lat Phrao.

Atip said the expo will feature 100 condo projects in Bangkok and in tourist centres such as Pattaya, Hua Hin and Koh Samui.

"The expo will be the first of its kind, to gather condominium projects in one place to give customers a wide array of choices. All the services related to real-estate projects, such as financial services, sales agents and so forth, will also be there," Bijanonda said.