The Real Estate Information Centre (REIC) identified ten dangerous zones for property development in Thailand, where houses and condominiums priced below 3 million baht are not selling. These areas require a selling period of between 30-78 months. The list, released today, includes Pak Kret and Khlong Luang, among others.
Wichai Wiratkaphan, Inspector of the Government Housing Bank and Acting Director of REIC, revealed that the current housing market for properties priced under 3 million baht signals an increase in supply, coupled with a high project reject rate. As a result, developers must exercise more caution while marketing to this group in 2024.
According to a survey of condominiums and housing estates priced under 3 million baht in Bangkok and its vicinity in the third quarter of 2023, the sales volume was lower than in 2022 for every quarter. The third quarter saw a…
