The pandemic changed people's lives and altered their preferences in choosing real estate. Many families preferred a larger house, as all family members spent more time within four walls.
Developers state the increased demand for low-rise housing. A lot of companies started the construction of this housing type.
Demand for houses in the price range of 10,000,000 baht and above is very limited. In 2021, demand for such houses was the highest in the last 6 years. In the same year, 3,100 homes were sold sold at a price of over 10,000,000 baht, more than half of them were worth about 10-20,000,000 baht.
The highest sales rate is for houses with a price tag of more than 100,000,000 baht, because supply is extremely limited at this price level. The sales rate is 90%, then follow houses that are worth about 51-60,000,000 baht and 31-40,000,000 baht. The sales rates are 83% and 82% respectively.
The market for homes with price tags of 10,000,000 baht or more is expected to continue growing steadily in 2022. Demand will also increase. The government has announced land tax rates and construction without a tax deduction. As a result, real estate developers have to plan for gradual land reclamation.