Catch the real estate trend: 'raised-level condos' are hot! Luxury homes It is also the goal of developers to create income and reduce risk. While offices overflow 500,000 square meters, indicating an oversupply effect! Geopolitics encourages land purchases in industrial estates to hit record highs in 5 years, pushing warehouses and logistics up.

Key Points:

In 2024, the residential real estate sector still has to rely on the purchasing power of Thai and foreign millionaires, creating a trend of one floor one unit or elevated condominiums in the luxury market.

Meanwhile, “detached houses” are still the target of developers.

Office buildings (offices) are at risk of oversupply after new supply is about to surge in by another 500,000 sq m.

Effect! Geopolitics supports the purchase of land in industrial estates, breaking records by as much as 5,600 rai in the past 5 years, pushing up the warehouse and logistics business due to demand from investors to move production bases.

Phattharachai Thaweewong, Director of Research and Communications, Colliers Thailand, said that in the past 2023 real estate market overview, the condo market supply figure was at 30,000 units, lower than expected. which is estimated at 40,000 units due to major developers delaying project openings The upper middle segment is still good. As for the price below 100,000 baht per square meter, "stable" because of the problem of high loan rejection (rejection rate), causing demand at the end of the year to "reduce" but real demand in the country still continues. Because it is a purchase for living.

With 70% market share coming from large developers. Because they have more budgets for project development than medium and small companies. Because you can issue bonds Or it's easier to do a lonely project. This is the same trend as 2024 where large operators will continue to be market leaders from such advantages.

“Due to the postponement of project launches last year, in the first quarter of 2024 there will be a large number of project launches, resulting in a high increase in supply along with an increase in prices.”

But what is interesting is the one floor one unit trend in the luxury condo market. It is found that the sales rate of condos that offer large units for sale. There will be a fast sales rate. As for the single house market Demand continues to be popular. There was a growth rate of 2.4% compared to the same period last year.

and the location of luxury homes has expanded into the eastern zone. As for the townhouse market, it "decreased" compared to the previous quarter. The selling price continued to decrease for the third quarter, with most demand being at the price level of 2 million baht.

As for the middle-high-end single-house market, prices range from 3 -10 million baht and up. Clustered in 3 main districts, Khlong Sam Wa has quite a lot of middle- and upper-class products. And although demand from investors has decreased, people who buy to live in still want houses that have value for money (Value for Money), but townhouse development has decreased and is concentrated in the Saphan Sung area. Because entrepreneurs turned to developing single-detached houses instead.