Connect with us

Property

Thailand real estate prices expected to rise in 2022

Avatar

Published

 on 

A construction project. Credit | Unsplash

Since the first quarter of 2020, the home price index has been declining while new home prices have increased. Several pandemic-related factors are to blame, including an increase in the costs of fuel and construction materials, along with higher inflation and a labour shortage. The compounding of these pressures mean real estate prices in Thailand are ready to rise in 2022.

Following the resumption of global economic activity, the prices of several key construction materials like steel and cement increased, while fuel prices increased by 50%, the Bangkok Post reported. In 2021, the price index for construction materials increased by 8% from 2020 – the highest jump since 2008.

Due to the significant price increases, developers will find it difficult to finish their projects and deliver pre-bought units to their customer at the contractual prices, Landy Home’s Director of Construction Phanid Maneerattanaporn told the Bangkok Post.

“It will be a challenging year for homebuilders as the demand side is strong but the supply side or construction costs is worrying. We need to manage costs the best to finish the units at the price we agreed with customers earlier.”

But the cost of construction materials aren’t the only part of the supply chain that have taken a hit during the prolonged pandemic.

“Many exported materials are obstructed by shipping delays or supply shortages, resulting in a domino effect.”

The chairman of the property development company Supalai has echoed similar concerns.

“The costs of housing development, excluding land costs, will likely increase by 3-4% this year. … When combined with higher labour wages and fuel prices, housing prices will be 2% higher.”

In December last year the Bureau of Trade and Economic Indices reported that the costs of iron and steel products had increased by 28.7%, followed by concrete (5.6%), aluminium, asphalt, and sand (4.2%), electricity and water supply equipment (3.8%), and cement (3%).

Source: Bangkok Post

 

Get more from The Thaiger

Looking for your next home in Thailand? Let us match you with a local expert in minutes!

Thank you for your interest!

One of our agents will
reach out to you soon.

I want to:
  • Thailand (ไทย)+66
  • United States+1
  • United Kingdom+44
  • Australia+61
  • Afghanistan (‫افغانستان‬‎)+93
  • Albania (Shqipëri)+355
  • Algeria (‫الجزائر‬‎)+213
  • American Samoa+1684
  • Andorra+376
  • Angola+244
  • Anguilla+1264
  • Antigua and Barbuda+1268
  • Argentina+54
  • Armenia (Հայաստան)+374
  • Aruba+297
  • Australia+61
  • Austria (Österreich)+43
  • Azerbaijan (Azərbaycan)+994
  • Bahamas+1242
  • Bahrain (‫البحرين‬‎)+973
  • Bangladesh (বাংলাদেশ)+880
  • Barbados+1246
  • Belarus (Беларусь)+375
  • Belgium (België)+32
  • Belize+501
  • Benin (Bénin)+229
  • Bermuda+1441
  • Bhutan (འབྲུག)+975
  • Bolivia+591
  • Bosnia and Herzegovina (Босна и Херцеговина)+387
  • Botswana+267
  • Brazil (Brasil)+55
  • British Indian Ocean Territory+246
  • British Virgin Islands+1284
  • Brunei+673
  • Bulgaria (България)+359
  • Burkina Faso+226
  • Burundi (Uburundi)+257
  • Cambodia (កម្ពុជា)+855
  • Cameroon (Cameroun)+237
  • Canada+1
  • Cape Verde (Kabu Verdi)+238
  • Caribbean Netherlands+599
  • Cayman Islands+1345
  • Central African Republic (République centrafricaine)+236
  • Chad (Tchad)+235
  • Chile+56
  • China (中国)+86
  • Christmas Island+61
  • Cocos (Keeling) Islands+61
  • Colombia+57
  • Comoros (‫جزر القمر‬‎)+269
  • Congo (DRC) (Jamhuri ya Kidemokrasia ya Kongo)+243
  • Congo (Republic) (Congo-Brazzaville)+242
  • Cook Islands+682
  • Costa Rica+506
  • Côte d’Ivoire+225
  • Croatia (Hrvatska)+385
  • Cuba+53
  • Curaçao+599
  • Cyprus (Κύπρος)+357
  • Czech Republic (Česká republika)+420
  • Denmark (Danmark)+45
  • Djibouti+253
  • Dominica+1767
  • Dominican Republic (República Dominicana)+1
  • Ecuador+593
  • Egypt (‫مصر‬‎)+20
  • El Salvador+503
  • Equatorial Guinea (Guinea Ecuatorial)+240
  • Eritrea+291
  • Estonia (Eesti)+372
  • Ethiopia+251
  • Falkland Islands (Islas Malvinas)+500
  • Faroe Islands (Føroyar)+298
  • Fiji+679
  • Finland (Suomi)+358
  • France+33
  • French Guiana (Guyane française)+594
  • French Polynesia (Polynésie française)+689
  • Gabon+241
  • Gambia+220
  • Georgia (საქართველო)+995
  • Germany (Deutschland)+49
  • Ghana (Gaana)+233
  • Gibraltar+350
  • Greece (Ελλάδα)+30
  • Greenland (Kalaallit Nunaat)+299
  • Grenada+1473
  • Guadeloupe+590
  • Guam+1671
  • Guatemala+502
  • Guernsey+44
  • Guinea (Guinée)+224
  • Guinea-Bissau (Guiné Bissau)+245
  • Guyana+592
  • Haiti+509
  • Honduras+504
  • Hong Kong (香港)+852
  • Hungary (Magyarország)+36
  • Iceland (Ísland)+354
  • India (भारत)+91
  • Indonesia+62
  • Iran (‫ایران‬‎)+98
  • Iraq (‫العراق‬‎)+964
  • Ireland+353
  • Isle of Man+44
  • Israel (‫ישראל‬‎)+972
  • Italy (Italia)+39
  • Jamaica+1
  • Japan (日本)+81
  • Jersey+44
  • Jordan (‫الأردن‬‎)+962
  • Kazakhstan (Казахстан)+7
  • Kenya+254
  • Kiribati+686
  • Kosovo+383
  • Kuwait (‫الكويت‬‎)+965
  • Kyrgyzstan (Кыргызстан)+996
  • Laos (ລາວ)+856
  • Latvia (Latvija)+371
  • Lebanon (‫لبنان‬‎)+961
  • Lesotho+266
  • Liberia+231
  • Libya (‫ليبيا‬‎)+218
  • Liechtenstein+423
  • Lithuania (Lietuva)+370
  • Luxembourg+352
  • Macau (澳門)+853
  • Macedonia (FYROM) (Македонија)+389
  • Madagascar (Madagasikara)+261
  • Malawi+265
  • Malaysia+60
  • Maldives+960
  • Mali+223
  • Malta+356
  • Marshall Islands+692
  • Martinique+596
  • Mauritania (‫موريتانيا‬‎)+222
  • Mauritius (Moris)+230
  • Mayotte+262
  • Mexico (México)+52
  • Micronesia+691
  • Moldova (Republica Moldova)+373
  • Monaco+377
  • Mongolia (Монгол)+976
  • Montenegro (Crna Gora)+382
  • Montserrat+1664
  • Morocco (‫المغرب‬‎)+212
  • Mozambique (Moçambique)+258
  • Myanmar (Burma) (မြန်မာ)+95
  • Namibia (Namibië)+264
  • Nauru+674
  • Nepal (नेपाल)+977
  • Netherlands (Nederland)+31
  • New Caledonia (Nouvelle-Calédonie)+687
  • New Zealand+64
  • Nicaragua+505
  • Niger (Nijar)+227
  • Nigeria+234
  • Niue+683
  • Norfolk Island+672
  • North Korea (조선 민주주의 인민 공화국)+850
  • Northern Mariana Islands+1670
  • Norway (Norge)+47
  • Oman (‫عُمان‬‎)+968
  • Pakistan (‫پاکستان‬‎)+92
  • Palau+680
  • Palestine (‫فلسطين‬‎)+970
  • Panama (Panamá)+507
  • Papua New Guinea+675
  • Paraguay+595
  • Peru (Perú)+51
  • Philippines+63
  • Poland (Polska)+48
  • Portugal+351
  • Puerto Rico+1
  • Qatar (‫قطر‬‎)+974
  • Réunion (La Réunion)+262
  • Romania (România)+40
  • Russia (Россия)+7
  • Rwanda+250
  • Saint Barthélemy+590
  • Saint Helena+290
  • Saint Kitts and Nevis+1869
  • Saint Lucia+1758
  • Saint Martin (Saint-Martin (partie française))+590
  • Saint Pierre and Miquelon (Saint-Pierre-et-Miquelon)+508
  • Saint Vincent and the Grenadines+1784
  • Samoa+685
  • San Marino+378
  • São Tomé and Príncipe (São Tomé e Príncipe)+239
  • Saudi Arabia (‫المملكة العربية السعودية‬‎)+966
  • Senegal (Sénégal)+221
  • Serbia (Србија)+381
  • Seychelles+248
  • Sierra Leone+232
  • Singapore+65
  • Sint Maarten+1721
  • Slovakia (Slovensko)+421
  • Slovenia (Slovenija)+386
  • Solomon Islands+677
  • Somalia (Soomaaliya)+252
  • South Africa+27
  • South Korea (대한민국)+82
  • South Sudan (‫جنوب السودان‬‎)+211
  • Spain (España)+34
  • Sri Lanka (ශ්‍රී ලංකාව)+94
  • Sudan (‫السودان‬‎)+249
  • Suriname+597
  • Svalbard and Jan Mayen+47
  • Swaziland+268
  • Sweden (Sverige)+46
  • Switzerland (Schweiz)+41
  • Syria (‫سوريا‬‎)+963
  • Taiwan (台灣)+886
  • Tajikistan+992
  • Tanzania+255
  • Thailand (ไทย)+66
  • Timor-Leste+670
  • Togo+228
  • Tokelau+690
  • Tonga+676
  • Trinidad and Tobago+1868
  • Tunisia (‫تونس‬‎)+216
  • Turkey (Türkiye)+90
  • Turkmenistan+993
  • Turks and Caicos Islands+1649
  • Tuvalu+688
  • U.S. Virgin Islands+1340
  • Uganda+256
  • Ukraine (Україна)+380
  • United Arab Emirates (‫الإمارات العربية المتحدة‬‎)+971
  • United Kingdom+44
  • United States+1
  • Uruguay+598
  • Uzbekistan (Oʻzbekiston)+998
  • Vanuatu+678
  • Vatican City (Città del Vaticano)+39
  • Venezuela+58
  • Vietnam (Việt Nam)+84
  • Wallis and Futuna (Wallis-et-Futuna)+681
  • Western Sahara (‫الصحراء الغربية‬‎)+212
  • Yemen (‫اليمن‬‎)+967
  • Zambia+260
  • Zimbabwe+263
  • Åland Islands+358

    Pete is a writer for The Thaiger, and he writes various topics from news, travel and property. His main focus is writing about Thai news, and what is happening in Thailand.

    image

    Follow Thaiger by email:

    Guides3 hours ago

    Take a workation at these 5 best places in Koh Samui

    Thailand4 hours ago

    Thailand’s monkeys are starving due to fear of monkeypox

    Events4 hours ago

    Deep Week in Phuket – The world’s largest open freediving festival

    Sponsored13 hours ago

    Make your dream vacation at these 5 grandest luxury villas in Phuket

    image
    Thailand4 hours ago

    Thailand News Today | Thai Govt announces “zero road deaths” policy

    Economy4 hours ago

    Saudi deal to inject ‘billions’ into Thai economy

    Phuket4 hours ago

    Phuket looks for new groundwater sources to cope with acute water shortages

    image
    Join the conversation on the Thaiger Talk forums today!
    Chon Buri5 hours ago

    Chon Buri garage owner found dead after alleged misunderstanding over bike

    Bangkok5 hours ago

    Taxi’s brakes fail causing 10 vehicle accident in Bangkok

    Travel5 hours ago

    Where to buy electronics in Thailand 2022

    Economy6 hours ago

    Thai PM suggest people only drive for “essential journeys”

    Crime6 hours ago

    Road rage incident leaves truck driver traumatised

    Chon Buri6 hours ago

    Mayor says more changes to come at Pattaya’s Jomtien beach

    Road deaths7 hours ago

    UPDATE: French woman dies riding bicycle in central Thailand

    Crime7 hours ago

    Man arrested for smuggling durian trees valued at 1 million baht to Laos

    Politics7 hours ago

    UPDATE: Thai political activists left to rot in jail

    Thailand8 months ago

    Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

    Thailand1 year ago

    Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

    Tourism1 year ago

    Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

    Phuket1 year ago

    Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

    Tourism1 year ago

    Phuket Thai food treats you need to try | VIDEO

    Thailand1 year ago

    Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

    Tourism1 year ago

    In search of Cat & Dog Cafés in Phuket Town | VIDEO

    Thailand1 year ago

    Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

    Thailand1 year ago

    Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

    Thailand1 year ago

    Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

    Thailand1 year ago

    Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

    Thailand1 year ago

    Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

    Thailand1 year ago

    Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

    Thailand1 year ago

    Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

    Thailand1 year ago

    Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

    Trending