Location Selection Models for Low-rise Condominium Development in Bangkok

Abstract

                Location is the most important factor for real estate project development. In this research, the researchers focused on the criteria and the factors for the selection of the location for developing condominiums with a height not more than 23 meters, which are low-rise buildings according to the law of Thailand, by interviewing experts. Then, the weights of all the factors were derived from a pair-wise comparison based on an Analytic Hierarchy Process. It was found that the land price is the most important factor in the selection. Therefore, two decision making models were analyzed, i.e.,10,000-100,000 and more than 100,000 Baht/square wah (Thai units, equal to 70.60-706.02 and more than 706.02 US Dollars/square meter, respectively). The acquired models can help real estate developers select the land for low-rise condominium development in Bangkok effectively and systematically.