In Bangkok, in the first quarter of 2022, only 31,477 properties were put up for sale, which is 227.5% more than in the same period of 2021, when a total of 9,611 properties were put up for sale.
20,536 real estate units were apartments in condominiums and 10,941 real estate units of private houses and townhouses.
At the end of 2021, 164,951 real estate units remained on sale. In the first quarter of 2022, 172,244 remained, which means an increase of 4.42%.
It is mainly planned to launch condominium projects due to high land prices. However, low-rise buildings remain popular with buyers. In the first quarter of 2022, about 30,443 real estate units were sold.
Condominiums are sold in two categories: up to 1.5 million baht and in the luxury goods group.
6 key factors affecting the real estate sector:
- Interest rates are likely to increase in the second half of the year.
- The economy has not yet overcome Covid-19.
- Incomes of people employed in services and tourism are recovering slowly.
- Household debt is at a high level, about 90% of GDP, which makes it difficult for low- and middle-income people to access credit.
- Construction costs continue to rise. Prices for new buildings may rise in the second half of the year.
- Foreign investors have not yet fully returned to the country.