Page 73 - Contributed Paper Session (CPS) - Volume 3

CPS1946 Jittima D. et al.
2) New Meters – for those meters registered from 2013 onwards
For Old Meters (Figure 5), findings discover that the OR of old meters
had stood over 80 percent. Notwithstanding, there was a slightly
decline in OR for this group after 2016. Of this group, 8 percent of
residents purchased more units due to deteriorating conditions of
existing buildings. Regarding this, this pattern is the so-called
“relocation effect” of residents. Following the logic, “relocation effect”
has exposed some drops to the old-meter cluster.

For New Meters (Figure 6), it was found that the OR has continued
to rise yet the level is still below the old meters group. Some stylized
facts classified by year of registration are shown below:
- For 2014, the initial OR stood at 41 percent. It took 11 months to
take the OR to reach 70% Threshold. This was partly due to less
supply launched and sluggish economic condition.
- For 2015-16, the initial OR was around 39 percent and required 18-
22 months to achieve the Threshold. This was due to more supply
launched
- For 2017, initial OR remained at 36 percent and it get 15 months
to achieve the Threshold. This was supported by economic
prosperity during the year compared to the two previous years.

d) In this section, other indicators apart from power meters was adopted
to investigate some further aspects, for instance, “unsold units - stock”
and “time-to-go” (length of time that would take to complete the sales
of existing unsold units by assuming fixed supply for certain time). In
simple mathematics, an assumption of sales per month is equal to
average sales since the launch of projects is addressed. Relevant data
are supported by the Agency for Real Estate Affairs (AREA).

From Figure 7 and 8, it is observed that there existed a condition of oversupply
of residential units in Bangkok and its vicinity during the first half of 2018 yet

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