Thailand's secondary real estate market

Thailand's secondary real estate market

The Real Estate Information Center provided data on secondary housing for sale. In the first quarter of 2022, on average, 137,957 properties worth 937,992,000,000 baht were put up for sale per month, which is 5.3% less than in the previous quarter. In the fourth quarter of 2021, the average number of properties sold per month was 145,753 residential units worth 990,224,000,000 baht.

The indicators of the 1st quarter of 2022 increased by 20.2% compared to the same period last year, when the number of second homes sold per month was 114,794 residential units, the cost of 749,651,000,000 baht.

Types of secondary housing that are put up for sale most often:

  • on average, 55,205 mansions are put up for sale per month, which is 40%, with a cost of 499,671,000,000 baht or 53.3% of the total cost

  • 40,660 apartments in condominiums, which is 29.5%, worth 302,231,000,000 baht, or 32.2% of the total cost

  • 36,391 townhouses – 26.4% with a total cost of 110,753,000,000 baht or 11.8%

  • 3,552 commercial buildings, which is only 2.6%, worth 18,150,000,000 baht (1.9%)

  • 2,149 duplexes (1.6%) worth 7 billion baht, a share of 0.8%.

The province with the largest number of secondary real estate objects for sale is Bangkok, where an average of 54,627 properties are sold per month, which is 39.6% of the total number in the country, worth 581,059,000,000 baht, which is 61.9% of the total value in the country.

The provinces with the highest number of average monthly sales are Nonthaburi, Samut Prakan, Pathumthani, Chonburi, Chiang Mai, Rayong, Prachuap Khirihan, Phuket and Nakhon Ratchasima.

The number of secondary real estate in these 9 provinces and Bangkok account for 75.5% of the country's secondary real estate market and is 88.6% of the value.

Most of all types of secondary housing are sold in the price segment of 3-5 million baht.

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