A restoration of balance in Thailand’s property market and a rise in construction costs are expected to prompt developers to hike their prices by three-to-five per cent this year. MCOT
Thai property developers expect to hike their prices by three-to-five per cent this year due to rising construction costs and a restoration of balance in the property market.
Richy Place CEO Apa Ataboonwongse on January 14 said now that some of the properties in stock since 2020 have moved, developers will need to adjust their prices to reflect the cost of construction, which has been rising since last year.
“In 2022, we expect to see property prices go up by three-to-five per cent,” she said. “Developers cannot maintain the same prices despite management cost having reduced over the past year.
“Also, due to Covid-19, most migrant workers have returned to their countries, causing labour…
