We are now seeing signs of recovery in the condominium market, which has continued to expand since the end of 2021. At the end of the first quarter, 16,000 new apartments were opened, sales are clearly better than in the last two years.
It reflects the return of real demand and demand from investors in particular and the market of condominiums near campuses. That is, houses that are located near educational institutions (universities, colleges) and are actively rented by students. This business was completely frozen, as the training took place in an online format for more than 2 years.
Currently, after educational institutions returned to work in the usual offline format, tenants began to return. This factor makes investors see an opportunity to invest in condominiums for long-term rentals in areas near academic buildings.
Another group of buyers are parents-guardians. Parents see the point in buying an apartment near the university instead of a permanent monthly rental for 4-6 years (about 12,000 baht). On the other hand, you can buy a new apartment worth about 2.55 million baht, which is about 22% of the average market price for real estate.
As for the prices on the market of apartments near the campus, which buyers have accepted well, they will be in the range of 80-85 thousand. baht per square meter or about 2-3 million baht for an apartment.