Survey Suggests That Property Prices Expected To Go Up

With the Thai real-estate market in the state that it is, news about the market is anticipated by people looking for a single house new project as well as larger organizations.

According to DDproperty, one of Thailand’s leading online property portals, the forecast has growth in value in it, at least based on data from their latest consumer sentiment survey. The portal carried out the survey throughout the first half of 2017, and was primarily aimed at getting the sentiment of the first-time buyers and up-movers who are looking to upgrade to more expensive single house new project in Bangkok’s real estate market. The survey inquired them about their sentiments and predictions for the real estate market of the capital.

The majority of the respondents, about 49% of them, expressed their belief that the real estate market is geared to grow by about 10% in the next half-decade, with a part of the respondents, about 14%, expressing similar sentiment, but with higher numbers and growth.

However, the optimistic outlook is balanced out by 60% of the respondents stating that they are expecting the short term to be more turbulent, saying that economic factors will hamper growth within the nearer foreseeable future.

According to KamolpatSwaengkit, Country Manager for DDproperty, the company saw mixed sentiments in the survey, with people considering the economic pressures in the market, and showing concern about the likelihood of Bangkok becoming an over-priced market, a view balanced by the strong long-term optimism, due in part to the continued urbanization in the country.

Swaengkit says that the urbanization will increase demand, and make Bangkok one of the real estate hotspots in the region, especially when it comes to condominiums.

The survey shows that buyers still prioritise locations when buying, with 94% of respondents citing it as the primary deciding factor in their purchase. Other major factors included surrounding infrastructure, amenities and price.

A considerable number of respondents, about 60%, expressed that they want to see the government taking steps to control the real-estate market, especially with regards with affordability issues.

The overall sentiment for the real estate in Bangkok went down slightly from last year, with the city’s satisfaction rate falling to 57% at the start of the year, from 62% and 68% from 2016 and 2015, respectively.