Real Estate Information Center reported that in the second half of 2021, the overall investment situation in housing construction projects in the Northeastern region of Thailand (Nakhon Ratchasima, Khon Kaeng, Udon Thani, Ubon Ratchathani and Maha Sarakham) began to recover. It is expected that the direction of real estate market in 2022 will be a period of recovery in both demand and supply.
As for the supply, it is expected that the number of new projects will increase by 60.3%, from 2,450 properties in 2021 to 3,928 objects in 2022, while the number of unsold real estate units is likely to increase by 22.6%. The cost of projects increased by 20.5%, from 36,095 million baht in 2021 to 43,505 million baht this year.
While demand will increase by 5.9% from 3,973 units in 2021 to 4,206 units in 2022. Sales volume will increase by 4.8% from 12,945 million baht in 2021 to 13,560 million baht in 2022.
In 2022, it is recommended to pay attention to the provinces: Nakhon Ratchasima and Khon Kaen. It is expected that 1,917 new real estate units will be put up for sale in the first one, which means an increase of 106% compared to last year, with a cost of 5,627 million baht.
In Khon Kaen, there will be an expansion in the segment of low-rise real estate. It is expected that 1,195 new units will be brought to the market, which is 66.4% more than in 2021, in the amount of 3,153 million baht.
However, adding new projects to the market still requires caution. The purchase rate is still at a low level. And in general, the market of the North-Eastern region still mainly consists of low-rise housing in the low-price segment.