Professional Documents
Culture Documents
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2018 Q1 2018 2018 2018 2019 Q1 2019 2019 2019 2020 2020 2020 2020 2021 Q1 2021 2021 2021 2022 2022
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Rent
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2018 Q1 2018 2018 2018 2019 Q1 2019 2019 2019 2020 2020 2020 2020 2021 Q1 2021 2021 2021 2022 2022
Q2 Q3 Q4 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q2 Q3 Q4 Q1 Q2
Kamolpat Swaengkit
Country Manager of
DDproperty
4 Conclusion
5 Methodology
6 About DDproperty
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The Price Index tracks The Supply Index tracks The Demand Index
median asking prices of the number of all tracks the number of
all residential property residential property enquiries of all
listings on DDproperty. listings on DDproperty. residential property
listings on DDproperty.
The Price Index for condominiums remains stable from the previous quarter
despite decreasing by 3% YoY. Amongst buyers, there is greater appetite
for landed properties, with the Price Index rising by 5% QoQ for single-
detached houses and by 21% YoY. However, this index remains unchanged
for townhouses, having increased by 2% YoY.
These figures show that developers and sellers with landed properties such
as single-detached houses and townhouses are successfully transacting in
response to higher demand.
Watthana district has the most condominium supply, accounting for 18% of
the total supply. Most properties here are priced over THB15 million.
Townhouse supply is concentrated in Suan Luang district, where prices are
typically between THB1–3 million, while single-detached houses are in
Prawet and fall within the same price bracket.
Overall, demand for properties has increased by 20% over the last quarter, and
all property types show growth. Demand rose by 26% for condominiums, by
15% for townhouses, and by 11% for single-detached houses.
Supply is forecast to ramp up in the final quarter of this year as sellers gain
confidence and developers respond by launching new projects. Additionally,
demand will also be spurred by the country's reopening, as the tourism
industry plays a pivotal role in the country's economic recovery.
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Single-detached house
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Townhouse
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Sai
Mai
Khlong
Lak
Bang Sam
Si
Khen Wa
Bung Nong
Kum Chok
Bang
Thawi Plad Din Daeng
Taling
Wattana Huai Wang Thonglang
Chan
Samphanthawong Kwang
Pathum
Bangkok Yai
Wan
Khlong San
Bang Rak
Thon Buri Bang
Nongkheam Kho Prakanong
Laem
Yan Nawa
Bang
Bang Na
Bon
Thungkru
Northern Bangkok
District Median Asking Price* QoQ YoY
Central Bangkok
District Median Asking Price* QoQ YoY
Southern Bangkok
District Median Asking Price* QoQ YoY
1 Pathum Wan 239,000 -1% +6%
2 Phra Kanong 99,000 +1% +4%
3 Bang Kho Laem 117,000 -1% +1%
4 Bang Na 77,000 -4% 0%
5 Yan Nawa 89,000 0% +2%
6 Bang Rak 210,000 +2% +2%
Eastern Bangkok
District Median Asking Price* QoQ YoY
1 Bueng Kum 49,000 -5% -2%
2 Nong Chok 16,000 +2% +8%
3 Khlong Sam Wa 22,000 -2% 0%
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The Price Index tracks The Supply Index tracks The Demand Index tracks
median asking prices of the number of all the number of enquiries
all residential property residential property of all residential property
rental listings on rental listings on rental listings on
DDproperty. DDproperty. DDproperty.
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Single-detached house
Rental Price index Rental Demand Index
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Townhouse
Rental Price index 342
Rental Demand Index
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The Rental Demand Index has spiked by 88% QoQ and by 166% YoY.
Demand for condominiums has increased by 105% QoQ (+206% YoY),
single-detached houses by 19% (+45% YoY), and townhouses by 21% QoQ
(+33% YoY). These numbers illustrate that the rental market is
dramatically improving.
Overall Thailand's real estate market still slows down. The Price Index
decreases by 5% QoQ (-7% YoY) as opposed to the rental market which
shows positive signs with 2% QoQ growth (-2% YoY).
Considering the 3 main tourist cities in Thailand, Price Index for buying
and renting in Chiang Mai and Pattaya is increasing, but Phuket is still
slowing down.
Phuket
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ดั9%
ชนีคา่ เช่าYoY
1.4K
โดยรวม
ดัชนีคา่ เช่าโดยรวม
0.7K
0
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Rent Price Index Supply Index* Demand Index
1.4K
0.7K
0
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342
Chiang Mai
Sale Price Index Supply Index* Demand Index
9% YoY
550
440
ดัชนีคา่ เช่าโดยรวม
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There is demand across all property types, leading to predictions of a decrease in supply
and no signs of an oversupply in the market.
For buyers and long-term investors with strong purchasing power, Q3 2022 is likely to be
the last chance to take advantage of the affordable prices before they increase due to
higher construction costs and interest rate hikes expected at the end of the year. Also,
new land appraisal prices will rise by 8% in 2023, creating another setback for buyers.
Government policies such as discounted transfer ownership fees and the Bank of
Thailand’s LTV policy encourage buyers to transact, but the government needs to take
other steps to stimulate the market. Policies such as reducing property taxes for the first
house or expanding the discounted transfer ownership fees to over THB3 million would
bolster buyer purchasing power.
Overall, the rental market remains stable, but there is a potential for growth, especially
towards the end of the year as industries resume operations post-pandemic and the
country opens its borders.
Kamolpat Sawaengkit
Country Manager of
DDproperty
DDproperty helps make this process easier for homebuyers since we are all
potential homebuyers and homeowners. Therefore, we have created this report to
help Thais better understand the mechanics of the property market, so buyers
know their offer is in line with market sentiments or to understand when the right
time is to make their purchase
As the Kingdom’s leading online real estate portal, DDproperty processes a vast
amount of real estate data daily, providing us with the necessary data to crunch, and
deliver in-depth insights to all Thai home seekers.
Methodology
Using a range of statistical techniques, the data from over 600,000 home listings on
DDproperty is aggregated and indexed for the quarterly DDproperty Thailand
Property Market Report - Powered by PropertyGuru DataSense. The report presents
three main indices – the Price Index, Supply Index, and Demand Index, for both the
sales and rental markets. This enables us to draw meaningful insights on Thailand's
residential property market, based on the price fluctuations and supply-demand
trends.
The Price Index is indicative of sellers’ optimism, based on the prices on DDproperty
that developers and homeowners feel that they can get for their respective properties.
This is complemented by the Supply Index, which provides a view on supply volumes in
the market through the number of new launch and resale property listings on the
platform. The responsiveness of home buyers and tenants to the Price and Supply
Indices is shown in the Demand Index, which represents the proportion of interested
property seekers for homes listed.
Contact
For media or press inquiries, or to understand more about the DDproperty Thailand Property Market
Report Q3 2022 – Powered by PropertyGuru DataSense, Please email mediaenquiry_th@ddproperty.com
Special Thanks
To Khun Kamolpat Sawaengkit for her contributions to the DDproperty Thailand Property
Market Report Q3 2022 – Powered by PropertyGuru DataSense.
Disclaimer
This publication has been prepared for general guidance on matters of interest only, and
does not constitute professional advice. You should not act upon the information contained
in this publication without obtaining specific professional advice. No representation or
warranty (express or implied) is given as to the accuracy or completeness of the
information contained in this publication, and, to the extent permitted by law,
DDproperty.com/PropertyGuru Group does not accept or assume any liability,
responsibility or duty of care for any consequences of you or anyone else acting, or
refraining to act, in reliance on the information contained in this publication or for any
decision based on it.
About DDproperty
DDproperty is the No.1 property marketplace in Thailand, and part of PropertyGuru
Group, Southeast Asia’s leading PropTech company. DDproperty transformed the
way Thais find homes by taking property online and has since been helping them
make confident property decisions.
Currently with more than 60%* market share, DDproperty is the preferred
destination for property seekers to find and own their dream home. For more
information, please visit www.DDproperty.com; www.PropertyGuruGroup.com or visit
us on Facebook, Instagram, Youtube, and Linkedin
*Source: Based on SimilarWeb data between October 2021 and March 2022