The Center for Economic Development for Economic and Business Research predicts that apartment sales will grow by 5-15% year-on-year in 2023, starting in 2022.
The most popular are apartments at a price of no more than 3 million baht in Bangkok, in the suburbs of Bangkok, in areas near workplaces or large higher education institutions. Or new electric train lines.
The most important factors that influence the fact that this particular segment is the most popular:
- Factors that support the price level:
- High inflation and household debt. As a result, apartments no more expensive than 3 million baht are more popular than the middle-upper price group.
- Prices for condominiums are lower than for low-rise housing.
- The purchasing power of Thai households is still weak.
- The Real Demand group is a middle– and low-income group that considers condominiums worth less than 3 million baht.
- The purchasing power of foreigners is uncertain. Most of which are the target group of medium and high price condominiums.
- Measures to reduce transfer and mortgage fees for housing worth no more than 3 million baht and measures to mitigate housing loans (LTV), which allow borrowers to borrow up to 100% of the value of the house, which will be in effect until the end of December 2022, helping to stimulate decision-making about buying real estate faster.
- Location:
- The expansion of the city to the outskirts with the passage of new electric train lines prompted entrepreneurs to launch more projects worth no more than 3 million baht.
- When compared with the price of low-rise housing of the same price level, the advantage of an apartment is in traveling. Including the location closer to the city and the skytrain station.
- People who plan to actually live-in apartments should go to the city to study or work.
- Suitable for buying for living, especially for middle- and low-income groups who do not have a place of residence in Bangkok.