Vichai Viratokaphan, Inspector and Acting Director of Real Estate Information Center of State Real Estate Bank (REIC) said that the secondary housing market in the 4th quarter of 2021, expanded compared to the previous quarter. This was influenced by government support measures: a reduction in the commission for the transfer of real estate to ownership and the mortgage interest rate for houses and condominiums at a price of up to THB 3,000,000, which also applies to secondary real estate. The measures will be in effect until the end of 2022. Besides, the Bank of Thailand temporarily weakened LTV by 100% until December 31, 2022, so it is expected that the secondary housing market will continue to expand in 2022.
During the 4th quarter of 2021 (October-December), the average monthly sales amounted to 145,753 properties, and the average monthly cost was THB 990,224,000, which is 12.3% and 14.8%, more than in the 3rd quarter of 2021.
In November 2021, 149,529 properties were sold for THB 1,061,435, while for the whole of 2021, the average monthly sales amounted to 126,237 properties for 855,317,000. In the 4th quarter of 2021 (compared to the 3rd quarter of the same year), 14.4% more houses were put up for sale, townhouses increased by 12.5%, condominiums – by 11%, twin houses - by 5.1%, and commercial real estate – by 4%.
As for the cost, townhouses on the secondary market increased in price by 18.1%, followed by mansions, which increased in price by 16.8%, twin houses increased by 16.1%, condominiums by 12%, but the cost of commercial buildings decreased by 3% compared to the previous quarter.
TOP-10 provinces with the highest average monthly sales volume are Bangkok, Phuket, Nontaburi, Samut Prakan, Chonburi, Chiang Mai, Pathumthani, Suratthani, Prachuap Khirihan and Samutsakhon.
In Bangkok, the average monthly cost of purchased secondary real estate is THB 616,614,000, that is 62.3% of the total value in the country. The average monthly sales volume is 60,269 properties, 41.3% of the volume in the country.