Categories: Property Report

FazWaz’s BANGKOK PROPERTY REPORT

FazWaz’s Bangkok Property Report (2019) — Take a look at how the property market performed in 2019 and trends to look out for in 2020.

  • Bangkok remains the most popular residential area in the kingdom, taking up 30% of all the country’s inquiries, the Bangkok’s property report 2019 shows. With the largest supply of residential units, it attracts buyers from across the globe.

  • The calendar movement shows that 2-3 months prior to the summer holidays there is generally a higher search inquiry. Majority of these inquiries are from overseas and predominantly from the western hemisphere, as people book holidays as well as property viewings.

  • Bangkok’s property market has always attracted a mature audience, buyers between the age of 38-53 take up half of this demographic. For retirement ages, coastal areas have a higher conversion.

  • The investment sentiment in Bangkok’s property market decreased a few points, mainly due to the strengthening THB and the fact that the buy-to-let environment is immature.

  • Gross majority of Bangkok’s demand is generated within the capital, this includes Locals, Expats and Tourists on location. Our Bangkok Property Report shows an increasing demand from surrounding cities.

  • Neighboring provinces have a healthy appetite for Bangkok real estate. Condominiums in a mid range of 6-9 million THB has their preference.

  • The size of the country is commonly related to the amount of profiles being built, and increased demands from the Indian subcontinent (Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka).

  • To a gross majority of the inquiries, Bangkok remains a “value for money” investment destination, our data shows. Many first-time overseas home buyers choose Thailand as their investment choice.

  • The UAE has the highest spending power in the capital and their preference is mainly for large sized – multiple bedrooms in prime lower sukhumvit areas although the amount of Inquiries from the UAE remains lower.

  • Over the turn of 24 months the Thai baht appreciation has affected the sales uptake. 2020 onwards we see a depreciation which by Q4 2020 will lift the overall overseas buyers sentiment. Interesting fact is that many overseas buyers did continue investing in Thailand, because they strategically wanted to have a return in a strong currency.

  • The demand for residential housing developments or gated communities has grown 50% since 2016 in the Bangkok market. The price product ratio is one of the key factors paired with the usable area in sq.m, our report shows.

  • Landed properties make up 30,5% of all inquiries (both local and overseas) with a clear distinction between the asset classes with single house detached properties as leader.

  • Demand for South-central and Eastern districts of Bangkok is the highest. Mass transit seems not to be a determining factor when customers search for landed properties, but the proximity to a main road or connected avenue does.

  • The CBD cannot longer be appointed as a single area and we define three locations (Sukhumvit 1-55, Sathorn and Rama 9. Due to price sensitivity and increased infrastructure, the demand for condominiums outside of the CBD is still growing both from local and overseas.

  • There is an equal demand for 1, 2 and 3 bedrooms because buyers are also considering older resale units. In the Bangkok Property report, we find our that if the price point and size matches their budgets, they are willing to take an older asset.

  • The demand for units smaller than 28 sq m is becoming less, and both local and overseas buyers have the aspiration to live bigger. An ever evolving consumer behavior has been pushing towards quality lifestyles.

To sum up, Bangkok’s property market has been redefined. With the current economic sentiment, buyers are looking for real bargains and notable discounts.

The Bangkok Property Report 2019 shows a growing demand for landed properties, especially single detached homes. In addition, the demand for condominiums outside of the CBD is growing both from local and overseas due to new mass transit developments.

Find property for sale and rent across Thailand at FazWaz.com. You can  list your property for free. Looking for a complete guide on how to buy or sell property in Thailand, we have got you covered here.

FazWaz News

FazWaz News publishes articles, trends and other updates about property markets across Thailand. FazWaz Property Thailand wants to help make sure buyers are well-informed about their investments.

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