Some locations are running out of quality supply. No new condominiums were introduced. The total number of unoccupied houses in Bangkok stood at 337,413, mainly in Bang Yai, Bang Kapi and Min Buri, at the end of June 2000. Homebuyers can currently tap mortgages that come in both fixed and floating interest rates. The pattern of owning a first home is changing.
Some consumers worry about being cheated by irresponsible developers.
So, they opt to hire home building firms to build a house on their own land. During the first five months of 2000, the number of houses built and registered by individuals rose to 6,459 while the units in housing estates totalled 5,837. The office sector remained the worst performer in the property market with vacant space of up to 2.3 million square metres in Bangkok, according to research by Sansiri Plc. However, stiff competition was looming among building owners to draw tenants to occupy their space. This put downward pressure on office rents and some locations may see further rent reductions next year.