KANANA KATHARANGSIPORN

          The low-rise residential market in Greater Bangkok remains robust, with strong demand for units priced between 3-5 million baht, while new supply set to be launched this year is expected to increase.

          Vichai Viratkapan, acting directorgeneral of the Real Estate Information Center (REIC), said the total number of new low-rise houses being launched between April and December 2022 would exceed the number of condo units at 31,093 and 18,814 units, respectively.

          "Residential demand continued to improve," he said.

          "If increases in interest rates and inflation are not too high, the good momentum for residential sales in the first quarter of 2022 will continue through the remainder of the year."

          In the first quarter, new condo supply launched was higher than the number of low-rise houses, with 18,844 condo units valued at 47.1 billion baht, compared with 10,750 low-rise units valued at 59.8 billion baht, respectively.

          Sales of condo units during the period tallied 19,055 units worth 66.1 billion baht, while sales of low-rise houses reached 11,043 units worth 69.7 billion.

          As of the end of the first quarter of 2022, overall low-rise housing supply dropped to 116,941 units worth 603 billion baht from 119,233 units worth 612 billion at the end of last year.

          Supply for condos rose from 77,856 units worth 340 billion baht to 83,337 units worth 344 billion.

          Many large developers reported growth in sales of low-rise houses during the first 5-6 months.

          AP Thailand Plc recorded 16.8 billion baht in sales from low-rise houses from January to May, up 23% from the corresponding period last year.

          Maytha Rakthum, chief of AP's townhome business group, said townhouses priced between 3 to 5 million baht under the Pleno brand dominated AP's sales during that period.

          "Two-storey townhouses priced at 3-5 million baht is one of the largest market segments because it attracts first-time buyers," he said.

          "Three-storey townhouses priced 5-7 million baht had the largest sales in terms of value because they are located in the inner city."

          According to REIC, low-rise houses priced between 3.01 to 5 million baht a unit recorded the largest sales within the low-rise segment in the first quarter at 3,754 units, followed by units priced 2.01 to 3 million baht at 2,663 units.

          Sansiri Plc last week reported sales growth of 30% in low-rise houses with 10 billion baht for the first five months this year. The key driver was single detached houses, generating 6.6 billion baht.

          SC Asset Corporation Plc recorded 11.5 billion baht in residential sales in almost six months, with 84% or 9.62 billion baht coming from low-rise projects.

          "Townhouses priced between 3 to 5 million baht under the Pleno brand dominated AP's sales.

          MAYTHA RAKTHUM Chief of townhome business group, AP Thailand