This article on Samut Prakan and Nonthaburi housing appeared in the Dot Property Group Bangkok Housing Market Report. Click here to download your copy.
Demand for Samut Prakan housing grew steadily during the first three quarters of 2022 as new project launches fueled growth. Nonthaburi saw interest rise in the first two quarters before flattening out in the third quarter. Bangkok’s neighboring provinces are in many ways an extension of the city with interest usually spilling over.
Samut Prakan has become a part of the Bang Na area and includes notable places such as Mega Bangna and Suvarnabhumi International Airport. Meanwhile, Nonthaburi borders Bang Sue and contains Impact Exhibition and Convention Center and is extremely close to Chaeng Wattana.
The number of inquiries for Samut Prakan homes made via the Dot Property Group network websites rose by 34 percent in the second quarter when compared to the first quarter and by another 35 percent in the third quarter. Panara Bangna-Suvarnabhumi was one of the most notable housing projects to hit the market in recent times while work on estates, such as V Compound Bangna, continued.
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Nonthaburi housing demand also grew by 34 percent in the second quarter when compared to the first quarter. However, this flattened during the next three-month period with only a five percent increase in inquiries recorded during the third quarter.
In terms of pricing and size, demand for Samut Prakan and Nonthaburi housing is quite similar despite their locations on the opposite sides of Bangkok. These demographics are also different from the city itself where there is more interest in expensive and larger homes.
The most popular unit size in both provinces was three-bedroom residences. These make up 61.1 percent of all inquiries in Nonthaburi and 60.3 percent of all inquiries in Samut Prakan. As far as price was concerned, interest in THB3 million or less homes was highest with this accounting for 38 percent of demand in both locations.
There was slightly more interest in homes priced at THB10 million and above in Samut Prakan as these accounted for 15 percent of inquiries versus eight percent in Nonthaburi. This is due in large part to supply as the Samut Prakan border with Bangkok in Bang Na contains several luxury housing estates including ones under SC Asset’s Bangkok Boulevard and Grand Bangkok Boulevard brands.
Home prices usually decline the further away you get from Bangkok in each province with many developments in these locations having starting prices less than THB3 million. It is likely these compete directly with similarly priced condominium units along the BTS and MRT lines with potential buyers weighing up an easier commute against the benefits of having extra space.
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