The BOT (Bank Of Thailand) follows a few “Property Indicators” (not the best ones, in my opinion, but it’s better than nothing).
Today, we’ll focus on their “New Housing (in Bangkok Metropolis and Vicinity)“.
Here is the definition given by BOT : “This is the request for housing address from Bangkok Metropolitan Administration , District Office . In case of the houses in housing project, developers are the persons who request the housing address even if construction is still not complete or no one buys them. “
We can already see some flaws… One house = 1 address. But for compound of houses, the developer can ask for addresses, even if the construction is not completed… Or remains empty (no transaction).
Therefore, this indicator focuses more on construction, rather than transactions.
This indicator has 3 items : “Housing Project”, “Apartment and Condominium” and “Self – Built Housing”.
For the chart, I’ve made a sum of those 3 items, per quarter, since Q1 1997 to Q2 2007 (left scale) plus the cumulative sum (right scale) for the period.
How to read it ? Addresses were requested for 17 086 units of “new housing” (housing projects + condos + selft built housing) in Bangkok and around, during Q2 of 2007.
As you can see, the figures were crazy in 1997. Then the fall, because of the financial crisis. And then, since Q3, the growth returns to high levels.
We had like a depression on Q4 2006 (because of the Coup). But, since Q1 2007, it starts again.
What to think about it ? Well, those figures are perfectly in line with what you can see… on the ground. I’m amazed by the pace of… constructions in Bangkok. New houses compounds everywhere, new condos… Just look at the bilboards and signs. They are everywhere.
In line too with the figures of land transactions (other indicator from the BOT).
So, where is the crisis could you ask ? 
Not on the construction side. Yet. But many of those new units remain… non occupied.
My compliments to you, yours is probably the best of the blogs about Thailand.
Top job.
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