Real estate experts say that sales of luxury housing in 2021 have not fallen, despite the epidemic situation with COVID-19 due to changing customer needs. Despite the fact that the real estate market has suffered from the ongoing economic downturn and pandemic, mansions and luxury condominiums continue to be popular in the market.
Among luxury real estate, 42% of sales were for condominiums, 39% for luxury homes, and 19% for vacation rentals of mansions. Compared to 2020, sales of luxury homes in 2021 increased by 69%. In 2020, the share of condominium sales decreased significantly. Single-family mansions located in convenient locations are in great demand among buyers, although the price is quite high. The luxury real estate market is still in good demand. Since wealthy buyers want a high quality of life and comfort when traveling.
Luxury apartments with a price of more than 20,000,000 baht are of interest to customers who still have a high purchasing power.
In 2021, no new projects were launched in prestigious places such as Pattaya, Khao Yai, Chiang Mai and Hua Hin due to the delay in launching new projects by developers.
In 2022, many developers will continue to focus on low-rise housing projects and luxury condominiums. And if the situation with COVID-19 returns to a controlled level, it is expected that the housing market as a whole will begin to adjust and gradually show signs of recovery during this year.