Real Estate Information Center has published a forecast of the number of new projects that will be launched in 2022 in the Bangkok area. It is expected that 77,728 housing units will be commissioned, which is 50.8% more than in the first half of 2022.
It was found that new projects in the Bangkok Metropolitan Region accounted for more than half of the condominiums in the first six months of 2022.
Despite the positive factors from the downturn in the situation with COVID-19, the full opening of the country, the organization of promotions, discounts, sweepstakes from developers, but in the second half of the year there will also be negative factors that should not be overlooked:
- Interest rates that tend to increase in the second half of the year.
- A coronavirus outbreak can still happen.
- Tourism is still slowly recovering.
- Household debt is about 90% of GDP, which makes it difficult for low- and middle-income people to access credit.
- An increase in NPL (non-performing debt) of financial institutions may lead to financial institutions being more cautious in lending.
- Construction costs have increased. As a result, the price of new buildings may rise in the second half of the year.
- Foreign investors have not yet returned to the country in full. This is facilitated by the conflict between Ukraine and Russia, the closed borders of China. And although the demand from Indian citizens has increased, they have not yet been able to make up for the level of real estate sales to foreigners before the pandemic.