Property sales in Thailand expected to remain strong in 2022 — CBRE

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

Low-rise luxury homes and villas have grown in popularity since the pandemic began in 2020, and the trend is expected to continue into 2022, according to CBRE Residential Sales Project Manager Artitaya Kasemlawan…

“Covid-19 has changed the behavior of homebuyers. Most customers are looking for more space because they need to spend more time at home, do various activities with families and also work.

Last year, sales of low-rise homes rose 70% year-on-year, continuing a three-year trend in Thailand’s property market. In 2020, low-rise properties and resort residences accounted for 57% of total property sales in Thailand, an increase of 14% from 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 spots for vacation homes.

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

“There has been a demand from the Chinese for high-end low-rise houses priced at 30-150 million baht in city centers close to business districts with easy access to the airport Suvarnabhumi International.”

THE SOURCE: Bangkok Post

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