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WEDNESDAY, October 05, 2022
nationthailand
Big jump in secondhand housing units up for sale

Big jump in secondhand housing units up for sale

FRIDAY, June 10, 2022

The number of secondhand houses offered for sale jumped by over 20 per cent in the first quarter of this year from the same period last year, the Government Housing Bank’s Real Estate Information Centre (REIC) reported on Friday.

An average of 137,957 pre-owned housing units per month were advertised for sale for the average combined price of THB938 billion in the first three months of 2022, the REIC said.

Those monthly numbers represented a 20.2 and 25.1 per cent increase, respectively, when compared to the same period last year, which saw a monthly average volume of 114,794 units and a monthly average value of THB749.6 billion, according to the centre.

However, there was a slight decline when compared to the fourth quarter of 2021, when 145,753 pre-owned housing units were offered for sale per month for an average monthly value of THB990.2 billion.

The REIC data were collected from state financial institutions, public asset management companies, Legal Execution Department, and websites specialising in secondhand housing units, such as Taladnudbaan.com.

Bangkok saw the most number of secondhand houses offered for sale in the first quarter of this year — an average of 54,627 units per month, representing almost 40 per cent of the country’s total, said REIC acting director-general Vichai Viratkapan.

He added that the average total value of houses sold in the capital during that period was THB581 billion, accounting for 62 per cent of the entire country.

In terms of number of units, Bangkok was followed by Nonthaburi, Samut Prakan, Pathum Thani, Chonburi, Chiang Mai, Rayong, Prachuap Khiri Khan, Phuket, and Nakhon Ratchasima provinces.

The monthly volume of pre-owned houses on offer in the top 10 provinces accounted for 75.5 per cent of the country, with the monthly value representing 88.6 per cent, according to Vichai.

Secondhand houses in the price range of THB3-5 million were the most popular, accounting for 23,295 units, or 16.9 per cent of all offered for sale per month in the first quarter.

Those with prices ranging from THB7.5 million to 10 million were the least popular -- 7,432 units were put up for sale, accounting for 5.4 per cent.

Vichai said Thailand’s secondhand housing market saw an expansion in the first quarter compared to the same period last year.

Detached houses made up 40 per cent of all units put for sale in the first quarter — the largest group of all. They were followed by apartment suites 29.5 per cent, townhouses 26.4 per cent, shophouses 2.6 per cent, and duplexes 1.6 per cent.

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