The current outbreak will likely lead to a fall in the price index for housing supply in Greater Bangkok in the first quarter, with discounts and campaigns still necessary to clear inventory, according to the Real Estate Information Center (REIC).
Vichai Viratkapan, REIC acting director-general, said property developers need to use promotions to boost sales in the first quarter as the new wave affected consumer confidence and purchasing power.
“Pressure for discounts and campaigns will come from new residential supply that will be completed this year,” he said.
“This will cause the amount of housing inventory carried over from last year to remain large.”
According to a survey by REIC on housing supply in Greater Bangkok in mid-2020, the number of residential units that remain unsold or were under construction totalled 62,388 units, comprising 27,907 low-rise…
