Baania reveals information online for sale and rent from real estate trading websites across the country. Second-hand homes and condos surged past 260 billion, reflecting fragile purchasing power. The most searched for condos, 36.7%, in the Chatuchak-Bangkapi-Huaykwang zone As for single-family homes, Sai Mai zone - Khlong Sam Wa - Bang Khun Thian While Townhome Prawet

Bania, a technology company that develops big data (Big Data) related to real estate. Using AI & Machine Learning technology, Bangkok Resale Home Market Report has been prepared on a quarterly basis. And process the interest of consumers towards the hand house. Two, through visiting announcements for sale-renting a Resale home on Baania Marketplace, it was found that the housing market in the 2nd quarter of 2023 was still driven by the improving Thai economy. because inflation began to slow down Prices of fuel and energy dropped. Including the price of construction materials, especially steel.

However, although the domestic economic signal is improving. However, political instability after the election in May was a major factor preventing the real estate business from achieving its growth target and affecting the business.

Bania collects and checks online sales-rental announcements from real estate trading websites throughout Thailand on a daily basis. The results of the analysis of all types of housing announcements for sale and rent in projects located in Bangkok in the 2nd quarter of 2023 are as follows:

Supply announced for sale-rent

• The number of second-hand home sales in the current quarter increased from the previous quarter. (Quarter-on-Quarter: QoQ) 19.1% and total offering value rose 27.4% to 260 billion baht, but compared to the same quarter of the previous year. (Year-on-Year: YoY) announced sales and total offering value of the current quarter declined.

• The volume of second-hand home rental listings increased by 27.5% from the previous quarter and the total monthly rental bids increased by 25.1%. previous year

• June sales announcements were the lowest in the quarter. reflecting the impact of political instability on the second-hand home market

• The number of listings for sale in the current quarter increased from the previous quarter in 33 districts. There are more listings for sale between 40-60%. Most of them are condominiums.

• Condominium sales announced remained the highest in the quarter and accounted for a high percentage of 90.6%, an increase from the previous quarter. This picture may be a sign that condominium supply still exceeds demand.

• The average selling price of detached houses is 5-10 million baht, an increase of 2.7% compared to the previous quarter. But the price of single detached houses of 3-5 million baht decreased by 1.5%, although the average price of 3-storey townhomes increased by 4.1%, but the price of 2-storey townhomes decreased by 2.1% for condominiums. Median price for sale: 1 bedrooms in low-rise condos increased by 3.4%, but the price of 2 bedrooms slightly decreased by 0.3%. High-rise for both 1 and 2 bedroom units increased by 1.8% and 0.9% respectively.

Sales-Rental Demand

Consumers viewed more listings for sale than rentals at a ratio of 3:1, with 73.2% viewing all types of listings while viewing rental listings at 26.8%.

• Consumers searched for the most advertised condominiums (36.7%), followed by single-detached houses (35.6%) and townhomes (27.7%). The share of condominium searches increased 16.0% QoQ. But searches for townhomes dropped 29.7%.

•Sai Mai, Khlong Sam Wa and Bang Khun Thian are the 3 districts that consumers who want to buy a single house pay the most attention. for condominiums Consumers are most interested in Chatuchak, Bangkapi and Huai Khwang.

• Consumers visited condominium rentals in Bangna, Huai Khwang and Chatuchak areas, the highest in the current quarter.

Source:https://www.bangkokbiznews.com/property/1085491

Date 28/08/2023