Low-rise housing continues to dominate the Thailand property market

Low-rise housing continues to dominate the Thailand property marketLow-rise housing continues to dominate the Thailand property market with many developers still recording strong presales in this segment. AP, Sansiri and Supalai all saw steady demand for homes in the Kingdom to start this year. According to Sansiri,…July 01, 2022

Low-rise housing continues to dominate the Thailand property market
Developers like AP continue to focus on low-rise housing to replace high-rise condo sales

Low-rise housing continues to dominate the Thailand property market with many developers still recording strong presales in this segment. AP, Sansiri and Supalai all saw steady demand for homes in the Kingdom to start this year. 

According to Sansiri, 64 percent of its presales during the first three months of 2022 were for low-rise housing. The developer had earlier announced plans to launch 28 housing projects in Thailand this year.

“The best selling low-rise houses were single detached houses in the upper-end segment and affordably priced townhouses for first-time homebuyers. We maintained our target of THB35 billion in presales by the end of 2022,” Khun Uthai Uthaisangsuk, Sansiri Chief Operating Officer, told the Bangkok Post.

Keep Reading: 4 things to know about Thailand property investment in 2022

Meanwhile, demand for low-rise housing helped AP bring in THB13 billion in presales during the first quarter. Of this amount, 84 percent came from homes. These figures are nothing new for the firm as 94 percent of its total presales in 2021 came from low-rise houses.

Data from Asia Plus Securities found that 69 percent of residential property presales last year were for low-rise housing. This is a massive increase from five years ago when the segment accounted for 39 percent presales. 

A survey conducted by Frasers Property Thailand provided more insight on this shift. Increased demand for housing in the country is being spurred on by a desire for residences that offer more space and better value for money.

“The residential market this year will continue to see a greater variety of housing options as developers shift business plans and marketing in line with changing consumer trends triggered by adjusted lifestyles due to COVID-19 or ‘New Normal’,” the Frasers Property Thailand report found. “Demand for low-rise projects such as single- detached houses or townhomes are on the uptrend for offering more living space and are seen as better value-for-money options.”

Read More: Value for money and need for more space driving greater interest in housing