The Real Estate Information Center (RAY C) reveals housing market trends in 2023. The market will be affected by the cancellation of preferential DEM measures from January 1, 2023 (when the initial mortgage payment was canceled).
The real estate market index (residential category) in 2023 is likely to decrease to 89.5 points, which is 1.1% lower compared to 2022.
If LTV easing is not resumed, developers may postpone the launch of new projects. It is expected that 98,581 new housing projects worth 513.98 billion baht will be launched in the Bangkok perimeter area in 2023, which is 1.8% and 1.1% more than in 2022, respectively. Among this number, 58,312 residential units of low-rise projects worth 367.36 billion baht and approximately 40,270 apartments in condominiums worth 146.6 billion baht.
It is expected that approximately 79,909 construction permits will be issued across the country, which is 3.5% more than in 2022.
As for demand, it is expected that in 2023 at least 320,227 housing units worth 953.4 billion baht will be purchased across the country, a decrease of 14.2% and 4.4%.
Nevertheless, the market situation in 2023 is under the control of the risks of the financial system. Measures to reduce household debt will be developed. Normal purchasing power will be restored. It is very likely that in 2023, the most popular real estate objects with a price of no more than 5 million baht will be.