The Thai Center for Real Estate Research and Evaluation reveals the results of the real estate market research at the end of the first quarter of 2022 in Bangkok and its surroundings. According to the results of the first quarter, only residential projects were launched in Bangkok, while there were no other types of real estate, such as office buildings, shopping malls, industrial buildings, warehouses, etc., which indicates limited investment in the real sector of the economy.
In total, 22,958 residential units were commissioned with a total cost of 80 billion baht, with an average price of about 3.5 million baht. It is expected that 95,000 new residential units will be built in Bangkok and its surroundings during 2022, which is higher than in the last 2021, when only 60,489 real estate units were launched, totaling about 340 billion baht.
However, this estimate is likely to decrease as construction costs increase dramatically.
In the first quarter of this year, 66% of projects were mainly multi-storey buildings, followed by townhouses - 18% and houses - 9%.
Most detached houses are sold at a price of 5-10 million baht. The largest group of townhouses is sold for 2-3 million baht, while most condominiums are sold for 1-2 million baht.
It is believed that the share of speculators (buying for resale) in condominiums, especially at a price of no more than 3 million baht, reaches 40%.
The average price for an apartment is 3.5 million baht, which is lower than last year's price, which was 4.6 million baht.