Revealing real estate trends in 2024, emphasizing “Relax – Work at Home”, saving energy – having healthy activities – having smart home innovations – causing no pollution – reducing carbon emissions
Ms. Sumitra Wongpakdee, Managing Director of Terra Media and Consulting Company Limited or TERRA BKK said that from the research results of The most powerful of real estate brand 2023 and in-depth look at consumer behavior according to the concept of Well-Being and Sustainable Lifestyle. From a questionnaire with a sample of 2,000 people, it was found that more than 42% of respondents planned to buy a home in the next 3 years, with most wanting to buy single-detached houses and townhomes. At the price level from 3 – 7 million baht
The main factor that makes the decision to buy a house this year is that most people pay more attention to construction materials, followed by security systems, society and the environment, and after-sales services.
When delving into real estate in each group, it was found that more than 78% of respondents planned to buy a single-family home. Most of them are people in the Baby Boomer group (age 56 and over) and Gen Y (age 28-41), followed by the townhome group with a proportion of 47%, with Gen X (age 46-56 years) and Gen Z (ages 18-27 years), as for condominiums About 27% of people plan to buy, which are Gen Z and Gen Y, in the price range of 2-7 million baht.
In terms of living behavior in 2024, it was found that most people give importance to 2 areas of their home: relaxing in the living room-living room-multi-purpose room. and working in the Work at Home style, including the need for space outside the house or in the garden more
Such behavior is in line with the concept of Sustainable Lifestyles from research results that found that The needs for an ideal home will consist of 3 aspects: Comfortable and Convenience Living, Safe and Secure Environment, and Well-Being because most people consider that Living at home in a new society complete with a quiet environment. There are complete facilities. In the home, smart homes are used. assistive technology These will help improve your physical and mental well-being.
The research also found that the Sustainable Lifestyles of each group of people have different behaviors, with Gen Z (ages 18-27) being a group that cares about traveling. Most of them emphasize the use of public transportation. Gen Y (aged 28-41) is more concerned with energy, such as turning lights on and off when not needed. Gen X (aged 46-56) is People who are interested in food and health, such as reducing eating meat. Or eat seasonal vegetables and the Baby Boomer group (over 56 years old) is a very interesting group. Because this group of people turns to pay more attention to green technology such as solar cells.
This trend reflects consumers’ desire for homes that complement a sustainable lifestyle. This is a guideline for developing real estate projects in the future, such as Universal Design, having a spa room or physical rehabilitation service program, having health and physical therapy activities, health assistance services, energy-saving Solar Cell homes. /Heat insulation, air filtration system for PM2.5 and viruses, innovations that help facilitate comfort such as Smart Home, EV Charger, a true waste separation system. To reduce waste and protect the environment, construction does not cause pollution. environmentally friendly and reduce carbon emissions
As for the trend of consumer confidence in 2024, it was found that the index value was at 76%, a decrease of 4% from the previous year at 80%, although overall the index value decreased slightly from the previous year. But in terms of buying high-value products such as real estate and cars, most consumers still view this period as not a good opportunity to buy real estate. both from the overall economy that is still slowing down Rising interest rates, austerity
of financial institutions Including real estate prices increasing according to new construction costs. This has an effect on applying for new loans, causing some customers to delay purchasing decisions.
This is consistent with information from the TerraBYTE application that the real estate market trend in 2023 has decreased slightly. Especially the condominium market which has clearly decreased. This is the largest market in the housing sector. Both the amount of supply launched is lower and the sales rate is lower. As for the townhome group, it is in a period of recovery, especially the price group of 5 million baht and above which has a growing sales rate. and the growing single-family home market Especially detached houses in the price range of 10-25 million baht with sales rates growing continuously. They belong to the Real Demand group with high incomes, savings, little economic impact and desire to change residences.
