DDproperty Thailand Property Market Report Q1 2022 - Powered by PropertyGuru DataSense

The fifth wave of COVID-19 infections has officially become the first challenge of 2022. Signs of an economic slowdown remain while weak purchasing power still hinders the real estate market.

In Q1 2022, the Price Index has decreased from its base rate and is forecast to remain stable in the next quarter. Meanwhile, the Supply Index (numbers of available residential properties) from last quarter has risen for all properties.

In addition to our usual Price and Supply Indices, the latest edition of the DDproperty Thailand Property Market Report will also feature the Demand Index that will cover both the sale and rental markets. Based on strong interest via advanced inquiries for listings captured on DDproperty, the Demand Index enhances the report with a comparative look at sale and rental market performances, offering meaningful insights into current price movements as well as supply-demand trends.

The report also adopts a new baseline quarter of Q1 2018, moving forward from the previous baseline of Q1 2015 to more accurately reflect price, supply, and demand trends in the contemporary market environment.

Report Highlights

1. Get The Guru View

2. Thailand Property Sale Market Index

3. Thailand Property Rental Market Index

4. Conclusion

5. Download the report

Read the online report here:

Get The Guru View

Thailand Property Sale Market Index

Declining real estate Price Index

The Price Index of residential property in Bangkok stood at 84 points, a decrease of 1% from the previous quarter.

The Price Index for condominiums declined by 1% QoQ and dropped by 10% YoY. However, it headed in the opposite direction for single-detached houses, increasing 5% QoQ and 13% YoY. For townhouses, the index rose by 1% QoQ while remaining stable YoY.

The Supply Index for landed property continues to climb

The Supply Index has increased from 223 points to 229 points, a rate of around 3% QoQ and 23% YoY. Landed properties account for much of this supply as the index for single-detached houses hiked by 7% QoQ and 42% YoY. At the same time, the supply of condominiums rose by 3% QoQ and 21% YoY. Meanwhile, the index for townhouses remained stable from the previous quarter, but it climbed a staggering 32% YoY.

Most condominiums are in the Wattana district, representing 15% of Bangkok condominium supply. Khlong San district was the locale for most townhouses, accounting for 8% of supply, while most single-detached houses are in Rat Burana district, also accounting for 8% of supply.

Thailand Property Rental Market Index

According to the latest DDproperty Thailand Property Market Report, the Rental Market Index in Bangkok decreased from 93 to 90 points or by 3% QoQ and 9% YoY, equating to a 13% slump pre-COVID-19.

Conclusion

2022 remains a lucrative time for buyers with strong purchasing power to buy, whether to live in or as a long-term investment.

Lower prices and other favourable factors including government policies of lower ownership transfer fees for both new and resale properties, and the Bank of Thailand relaxing LTV rules for mortgages allowing first home buyers 100% loans for properties over THB10 million and for second homes.

As for the rental market, the Rental Price Index has slumped. However, with the lockdown easing, reopening of businesses, rental demand is likely to increase.