Home Builders' Association secretary Sithiporn Suvarnsut said concerns over lower income as a consequence of continuing economic uncertainty remained a key market factor for next year. Many potential home-buyers are putting off hiring homebuilders to construct new houses for them.

In a recent survey, the association found that about 80 per cent of prospective home-buyers delayed plans to buy new houses, because they had no confidence in the economy in the wake of the country's political turmoil, he said.

Moreover, the market value of built-to-order homes for this entire year is expected to total Bt8 billion, falling short of its Bt8.5-billion target. The built-to-order home market has also lowered its projection, from Bt10 billion to Bt8 billion, equalling this year's total.

Sithiporn said the association would wait and see what the market did next year, because new elections might affect customers' investment decisions.

"The number of self-built homes this year is expected to reach 28,000 units, with a value of Bt40 billion, surging 15 cent from last year. But 80 per cent of these were built by small contractors for cheaper prices than large homebuilders," he said, adding that the association's members will have to develop high standards of construction to compete with small contractors.

Sithiporn said the association would also provide customers with more information on the differences between homes built by general contractors and large homebuilders. "We expect our market to be maintained next year," he said.