REIC opens 5 real estate locations, sales soar in Q1 67

REIC reveals 5 real estate zones with the best new sales in the first quarter of 1. Low-rise Bang Phli-Bang Bo-Bang Sao Thong is ranked number 67, while condos in the Khlong Luang area are the champions. It is recommended to watch out for supply that is about to overflow in some locations.

On June 20, 2024, the Real Estate Information Center (REIC) released the following information regarding the housing situation in Bangkok and its surrounding areas during the first quarter of 2024:

Low-rise projects (detached houses, semi-detached houses, and townhouses)

Low-rise housing units for sale totaled 137,483 units, an increase of 10.1%, valued at 910,268 million baht, an increase of 33.5% (yoy).

It was found that horizontal residences with a large expansion of units offered for sale include detached houses and semi-detached houses.

For new sales of low-rise housing in the first quarter of 1, 2567 units, a decrease of 9,679%, valued at 16.1 million baht, a decrease of 62,863% (yoy).

5 locations with the highest number of new sales units Housing project type

Number 1, Bang Phli-Bang Bo-Bang Sao Thong zone, 2,161 units, value 14,411 million baht.

Number 2, Mueang Samut Prakan-Phra Pradaeng-Phra Samut Chedi zone, 1,295 units, worth 5,703 million baht.

Number 3: Bang Yai-Bang Bua Thong-Bang Kruai-Sai Noi zone, 1,210 units, worth 6,558 million baht.

4th place: Lam Luk Ka-Thanyaburi zone, 703 units, value 3,179 million baht

5th place: Mueang Samut Sakhon zone, 696 units, worth 3,644 million baht

The results from the field survey also show that locations for low-rise houses need to be careful because there are still the highest number of unsold units, although some areas have good sales and absorption rates, including:

Number 1: Bang Yai-Bang Bua Thong-Bang Kruai-Sai Noi zone, 20,214 units, worth 110,177 million baht.

2th place: Lam Luk Ka-Thanyaburi zone, 16,109 units, value 93,280 million baht

3rd place: Khlong Luang zone, 14,478 units, value 56,803 million baht

Number 4, Bang Phli-Bang Bo-Bang Sao Thong zone, 13,183 units, value 83,193 million baht.

Number 5, Muang Pathum Thani-Lat Lum Kaeo-Sam Khok zone, 11,244 units, worth 52,080 million baht.

Condominium project (condominium)

Condominium market in the Bangkok-metropolitan area in the first quarter of 1 found that 2567 condominium units were offered for sale, an increase of 91,565%, worth 14.9 million baht, an increase of 397,717% (yoy).

As for new sales of condominiums occurring in the first quarter of 1, it was found that the number was 2567 units, a decrease of 5,940%, valued at 39 million baht, a decrease of 27,207%.

The 5 locations with the highest number of new condominium project units for sale include:

1rd place: Khlong Luang zone, 1,057 units, value 1,794 million baht

Number 2: Phra Khanong-Bangna-Suan Luang-Prawet zone, 487 units, worth 1,472 million baht.

3rd place: Thonburi-Khlongsan-Bangkok Noi-Bangkok Yai-Bang Phlat zone, 441 units, value 1,861 million baht.

4th place: Huai Khwang-Chatuchak-Din Daeng zone, 439 units, value 1,692 million baht

Number 5: Mueang Nonthaburi-Pak Kret zone, 421 units, value 987 million baht.

This is a location where there are a lot of condominium units remaining for sale. You have to be careful because there are still a lot of unsold units at the top, although some areas have good sales and absorption rates, including:

Number 1, Huai Khwang-Chatuchak-Din Daeng zone, 10,588 units, value 43,059 million baht.

2nd place: Thonburi-Khlong San-Bangkok Noi-Bangkok Yai-Bang Phlat zone, 9,469 units, worth 31,397 million baht.

Number 3: Phra Khanong-Bangna-Suan Luang-Prawet zone, 8,251 units, worth 27,299 million baht.

Number 4: Mueang Nonthaburi-Pak Kret zone, 6,293 units, value 16,121 million baht.

No. 5, Lat Phrao-Wang Thonglang-Bang Kapi zone, 5,382 units, worth 17,607 million baht.

From the results of the data survey, it shows that in the first quarter of 1, the housing market in Bangkok and surrounding areas is still driven by low-rise housing projects rather than condominiums.

However, low stocks and absorption rates should be monitored in many areas where future investment risks need to be assessed. Especially in locations where the absorption rate has decreased.

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