Building contractors win huge response from homebuyers at latest fair
A Bangkok home construction fair generated some 3.6 billion baht in revenue for contractors, with most consumers ordering the building of homes in the 2.5 million to 5 million baht range.
Worawut Kanchanakul, president of the Home Builder Association, said the Home Builder Focus 2022 fair held between March 3 and April 3 in Muang Thong Thani drew more than 10,000 visitors.
He said some 1,000 house models were offered at the fair and the revenue generated from sales was 70 per cent higher than last year.
“In previous years, the fair usually generated up to 1.9 billion baht. Last year, the value of building contracts came in at 2.1 billion baht,” Worawut said. “This year, we did not expect the revenue to rise up to 3.6 billion baht.”
He said 45 per cent of those looking to build new homes signed construction contracts in the range of 2.5 million and 5 million baht, while 32 per cent signed contracts between 5 million and 10 million baht. Only 2 per cent signed contracts below the 2.5 million baht budget, he added.
Worawut said this fair indicates that Thai consumers have higher purchasing power than what was expected by his association and the biggest buyers were in the 35 to 40 years age group.
He said contractors from other provinces also joined the fair, including from Nakhon Ratchasima, Sakon Nakhon, Maha Sarakham, Udon Thani and Chanthaburi.
“The association has seen good economic signs from the fair, including rising consumer confidence. Those who own land can make decisions easily, and the market for home builders is improving,” Worawut said.