The Home Builders Association estimates demand for new residences through its members will increase from Bt11 billion this year to Bt12 billion the next year.
HBA president Panthep Thanchitikul yesterday credited customer trust with its members and the economic recovery for the improved forecast.
He said residence prices would increase from an average of Bt1 million to 2 million a unit to between Bt2 million and 3 million.
The outlook for the home-building market has significantly improved since the middle of last year, due partially to the improving economy, which resulted in bolstering consumer confidence, Panthep said. At the same time, many home-building firms launched more marketing activities in the second half of this year.