What will the housing market look like in 2022?

What will the housing market look like in 2022?

The Real Estate Information Center (REIC) estimated the real estate market in 2022, according to which the number of ready-made housing in and around Bangkok is approximately 115,081 units. A new launch in Bangkok – the metropolitan area will contain 85,912 new units.

Short forecast for 2022

Compared to the last two years, the outbreak of a new type of coronavirus, Omicron, has become a risk factor that causes the government and the private sector to worry about the consequences. Services and the hotel sector were severely affected by a severe drop in tourist arrivals. As a result, the overall economy may slow down in the first quarter of 2022.

The situation in the real estate sector is mixed and unambiguous. The private sector is still declining after reaching its bottom in 2021, which is puzzling. To smooth out the consequences of the COVID-19 epidemic, the Thai government decided to soften mortgage control measures (LTV) and extend for another year measures to reduce transfer and mortgage fees for real estate up to ฿3 million ($90,774).

REIC experts believe that the real estate market will continue to grow this year due to the low-interest rates and financial assistance for entrepreneurs and homebuyers. Currently, inflation has not yet become a factor of pressure on the direction of domestic interest rates, and if transfer measures are taken quickly in combination with the weakening of LTV (end of 2022), this will have a positive impact.

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