A survey conducted by Frasers Property Thailand found that increased demand for housing in Thailand is being spurred on by a desire for residences that offer more space and better value for money. The trend is expected to carry over into 2022 as the public comes to terms with lifestyles brought on by the ‘New Normal’.
“The residential market this year will continue to see a greater variety of housing options as developers shift business plans and marketing in line with changing consumer trends triggered by adjusted lifestyles due to COVID-19 or ‘New Normal’,” the Frasers Property Thailand report found. “Demand for low-rise projects such as single- detached houses or townhomes are on the uptrend for offering more living space and are seen as better value-for-money options.”
With the pandemic causing people to focus more on health, safety and wellbeing, residential demand shifted. There is now a real need for homes that can handle all the aspects of daily life, including work, study and recreational activities.
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But that is only part of the equation. Single-detached housing is seen as providing better value for-money since it offers more space and privacy for the same price as a condominium. Additionally, these offer greater flexibility and functionality in terms of layouts allowing residents of different age groups to be comfortable.
“The survey showed that homebuyers consider value for money as their top priority. They are not looking for houses with the lowest selling price. Instead, they take a holistic view of what they are getting for their money, such as the quality of construction materials, functional layouts and space utilization,” the Frasers Property Thailand report noted.
It continued, “The second factor that homebuyers consider is safety and wellbeing. High standards of hygiene, strict security measures in the common areas, and installation of smart home systems as well as a well-ventilated home design with an effective ventilation system are desirable to allow residents to feel safe at all times.
Related: How has COVID-19 changed the way buyers view low-rise housing in Bangkok?