Single Housing Trends
As the world suffered drastic economic downturns, other more fortunate countries seemed to be unaffected by the issues that have plagued Western countries. Thailand has been one of the Asian countries that seemed to have been unruffled by recession in other parts of the globe.
Bangkok’s commercial and industrial center has actually been enjoying a successful economy. This has been evident in the growth the city and the country as a whole has seen in recent years. The sales of Bangkok single housing trends remarkably well.
The real estate market of Bangkok has burgeoned splendidly, especially in early 2010 as an influx of property developers launched and began building a plethora of urban housing units in the city and its suburbs. Buyers and investors have set record-high numbers for Bangkok’s residential property projects, and although the figures have somewhat dwindled as of this year, the market remains strong and stable Single unit houses have been in the lead of property sales.
Single Family Houses in Bangkok
However, public buying interest for Bangkok seems to have shifted from high-rise condo units to mid-rise or low-rise dwellings like detached homes and townhouses. These single housing trends are moving; Sansiri Plc, a Bangkok property developer, is set to take advantage of this new trend by planning a series of three-story houses to be launched in the near future. These units, 60 in total, are worth over THB 10 million (US$ 334,000) are to be on Soi Yothin Pattana of the Bung Kum district, as reported by “The Bangkok Post.” In addition, Sansiri has launched 10 units of a plush four-story townhouse called Residence Sukhumvit 65 worth THB 170 million (US$ 5.67 million). This also happens to be the company’s first luxury townhouse project. Sansiri has further plans to launch more single house projects and townhouse properties in Bangkok’s suburbs to the tune of millions of baths. The company has 23 more projects in the making, as well as additional condo unit properties up for development.
Similarly, there has been a reported increase in buying interest for low-rise units compared to the decrease in high-rise sales. This shift may be attributed to many factors, but experts are under the impression that the trend is mostly due to the fact that most of the people who are able to purchase high-rise units have already done so and are merely waiting for developers to make good on their promises. Low-rise units are being snapped up as developers cater to the growing demand for a market centered away from high-rise units. This may also be due to the fact that families are also adding to Bangkok’s population, with parents and breadwinners seeking better employment opportunities and higher incomes in the city, but preferring to live in secluded areas close to the business center.
Low Rise Housing Units in Bangkok
Whether it is the trending low-rise units or the decreased interest in high-rise living options; Bangkok still continues to maintain a stable market made even more solid. With the way things are going, Bangkok’s residents, developers and foreign investors should look forward to seeing bigger and brighter things moving forward.
Here is a link to some updated information, since this original posting a few years back. The opportunity now is probably better than ever for investment.