In 2022, the real estate sector is predicted to rise, after it reached its lowest point over the past two years.
The land along the new skytrain lines in Bangkok, whose opening is scheduled for this year, has become a tasty morsel for developers.
In a situation when the country's economy has not yet recovered from the crisis associated with the spread of COVID-19, the incomes of the population have decreased. Many major real estate market players focus on affordable housing and describe it as «real-life housing», based on the needs of potential buyers.
Origin Property stated that it focuses on the able-bodied youth of Generation Z as the target audience for its new residential complexes. The starting price will be at the level of THB 1,000,000 or 2,000,000. The developer Grand Unity Development, which suspended its activities for the past two years, returns to the market with apartments with a starting price of THB 1,890,000 baht.
Companies are focusing on the medium- and low-budget segment in order to attract less solvent young strata of Thai society. Developers compete in «budget condominiums» segment and set initial real estate prices of about THB 50,000-80,000 per square meter.