The firm's Managing Director Bill Barnett pictured said supply and demand fundamentals for the high end are continuing to strengthen given that excess supply is being absorbed, while macro issues are restricting demand for new product launches.
'While market recovery prospects are being set back to 2011, there has continued to be a gradual upswing in activity, driven primarily by earlier than anticipated momentum in many of the financial source markets where potential overseas buyers originate from' Barnett said.
The report values the existing luxury villa inventory Bt10 billion with 92 units currently on the market. Between January to June of this year 19 properties were sold, while the resale market saw over Bt1 billion in transactions.
