In November 2022, it was found that the number of new real estate projects had already returned to the pre-epidemic level.
The supply of new projects was stable compared to the same period last year, but increased by 7% compared to the previous month and reached 11,880 units.
In the second half of 2022, approximately 10,000 units were launched per month, which is a fairly lively real estate market. These figures correspond to the peak of the housing market in 2018 before the introduction of COVID-19.
Since November, the market has been paying more attention to condominium projects. Commissioning of new condominiums increased by 15% compared to last month.
The average unit price rose to 5 million baht from 4.4 million last month. Due to the launch of new projects of the elite segment, the number of which has increased.
The total supply of new projects in November increased by 77% of the total since the beginning of the year, while low-rise projects increased by 41%, and condominiums — by 128%.
This is due to the fact that the offer from recently opened projects is higher than the new units sold. As a result, the admission rate remained low and amounted to 25.8% compared to 27.6% last year.
It was revealed that the rate of foreclosure of low-rise projects is slowing down, while the rate of foreclosure of condominiums is accelerating.
The level of repurchase of real estate in the lower price segment (unit price < 3 million baht) is stable and remains at about 30%, while the level of repurchase of premium class projects (unit price 3-10 million baht) and luxury level projects (unit price >10 million baht) has decreased to 25% and up to 19%.