On June 18, Prasart Tungmatidharm, a board member of Supalai, expressed concern about the unstable stability of the housing market in Bangkok and its metropolitan region. The population of Bangkok with a population of about 5.5 million people shows fluctuations without a clear growth trend. While some regions of the country are experiencing decline. Interestingly, the neighboring provinces have about the same population, increasing by 1.5% annually. The overall sustainability of the housing market depends on the region's ability to provide economic opportunities for Thai residents to move and live in Bangkok.
The number of available condominiums in Bangkok is about 30,000 apartments, private houses with land and condominiums together or 70,000 properties. In Bangkok and its surroundings, the number of houses sold each year is about 100,000 residential units.
Although population growth in remote provinces tends to decrease. That is, the population in each younger age group will decrease by about 6-7% compared to the next older age group, for example, the population in the 30-39 age group will be about 6-7 less than in the 40-49 age group. It makes it possible to believe that in the next 10 years, the demand for housing in the whole country will decrease. But the real decline in numbers is likely to have consequences at least 20 years from now.
In general, will the demand in the real estate market be sustainable? It depends on whether Bangkok and its surroundings will provide enough economic opportunities for Thai residents. Whether people will continue to migrate to work in large cities and stay there to live or not.