Demand for low-rise units beats condos in Bangkok

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Thailand’s government-backed Real Estate Information Center (REIC) is predicting growth in the number of newly-registered residential property units in greater Bangkok to grow by more than 11 percent this year.

Surprisingly perhaps, low-rise houses including single detached houses, duplex houses, townhouses and shophouses saw more demand in greater Bangkok than condominiums, according to REIC.

Vichai Viratkapan, the acting Director-General of REIC said the greater Bangkok residential market rose during the first half of 2018 compared with the same period in 2017.

He did not give any indications of what exactly “rose”.

“Demand and supply during the final six months of 218 will continue to grow,” Vichai said.

With many developers citing difficulties for their property buyers to obtain mortgages, Vichai interestingly noted a 19.4 percent growth in new home loans during the first half of the year.

REIC’s research underlined the popularity of Bangkok property purchases alongside new mass-transit lines, and that one-bedroom units priced between THB 2 million and THB 3 million proved to be the most popular.

The mass-transit routes which saw the most new units coming to market was between Huai Khwang and Din Daeng, with 9,205 units.

Second ranked was Saphan Taksin to Bang Wa.

In terms of low-rise houses, Samut Prakan led the way with 3.554 new units.111

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of Andrew has been writing about property and real estate issues in Thailand and Southeast Asia for more than 10 years. He has worked for PropertyGuru Group, DDproperty, Dot Property Group, Hipflat and AsiaRents. He has also produced content for leading Thailand property developers and real estate agencies.

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