Thailand real estate sales projected to stay strong in 2022 — CBRE

CBRE plans to sell 14 billion baht in real estate this year, representing a 15% increase year on year, with luxury low-rise residences and resort villas being the main sellers. The company reportedly made 12 billion baht from real estate sales in 2021, an increase of 30% from the previous year.

Luxury low-rise homes and villas have increased in popularity since the pandemic began in 2020, and the trend is set to continue in 2022, according to the head of residential sales projects for CBRE, Artitaya Kasemlawan…

“Covid-19 has changed homebuyer behaviour. Most customers seek more space as they have to spend more time at home, doing various activities with families and also working.”

Last year, low-rise home sales increased by 70% year on year, continuing a three-year trend in Thailand’s real estate market. In 2020, low-rise and resort home properties comprised 57% of total real estate sales in Thailand — a 14 percent increase over the previous year. In 2021, these properties continued to dominate, accounting for 58% of market sales.

The best-selling low-rise properties were located along Rama IX, Krungthep Kreetha and Ratchaphruek, according to CBRE, while Hua Hin, Pattaya and Si Racha were among the most popular locations for vacation homes.

Last year, the average price of a single detached property sold by CBRE was 56 million baht, suggesting a high demand in the capital’s city centre. The most expensive unit was sold for nearly 270 million baht.

“There has been demand from the Chinese for high-end low-rise houses priced 30-150 million baht in downtown areas near business districts with easy access to Suvarnabhumi International Airport.”

SOURCE: Bangkok Post