From the annual big seminar of Kiatnakin Phatra Financial Business Group KKP Year Ahead 2024 stage
โ๐ฐ๐-๐ ๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐ 2024โ
It was found that the Thai real estate market in 2024 still faces challenges from various factors. Both the economy is slowing down Interest rates that have increased Cancellation of relaxation of LTV measures by the Bank of Thailand and higher construction costs due to inflation
Mr. Tritecha Tangmatitham, Managing Director of Supalai Public Company Limited, estimates that the real estate market in 2024 is likely to expand slightly from the previous year.
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It is expected that condos will begin to recover better following the launch of more new projects and signs of demand recovery. While low-rise houses should have a stable direction. and unable to expand much from some outstanding stocks that still exist
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Mrs. Jiraporn Linmaneechot, former real estate stock analyst Securities company Kiatnakin Phatra Public Company Limited
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It is seen that the real estate market in the current situation is a very challenging year. It is considered that if the economy recovers as expected and interest rates decline in the second half of the year, It will be an important positive factor for the market.
๐๐ฆ๐๐ฅ๐ฅ ๐๐ง๐ญ๐ซ๐๐ฉ๐ซ๐๐ง๐๐ฎ๐ซ๐ฌ ๐ฐ๐ข๐ฅ๐ฅ ๐ฌ๐ญ๐ซ๐ฎ๐ ๐ ๐ฅ๐ ๐๐ง๐ ๐๐๐๐จ๐ฆ๐ ๐ฆ๐จ๐ซ๐ ๐๐ง๐ ๐ฆ๐จ๐ซ๐ ๐๐ข๐๐๐ข๐๐ฎ๐ฅ๐ญ ๐ญ๐จ ๐๐จ๐ฆ๐ฉ๐๐ญ๐.
For small entrepreneurs in the real estate market, it will become increasingly difficult to compete during the market slowdown.
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Especially from the problem of obstacles in accessing capital for small entrepreneurs. It was found that the issuance of bonds by small entrepreneurs during this period was higher than that of large entrepreneurs. And issuing new bonds will become more and more difficult, while large operators can still issue bonds to raise funds to launch projects. This will make the new supply of real estate this year more likely to come from large operators.
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In addition, the trend of the Thai real estate market is that there is a greater chance of market consolidation or the market share of large operators will increase clearly in 2024 and will be more evident over the next 5โ10 years.
๐น๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐๐๐
For a long-term view of the residential real estate market I believe there is still opportunity for growth. Compared to other real estate groups, namely offices and retail. But it cannot be denied that the market will be affected by changes in the population structure towards an aging society. This will make penetrating the Thai customer market more challenging. And we believe that in the long run, the real estate market in Nigeria still needs support from foreign customers.
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Mr. Tritecha concluded by saying that Entrepreneurs need to adapt to changing real estate demand trends, whether
Demand for purchasing real estate among the elderly The trend of the elderly market is to be interested in large condominiums with more usable space.
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The new generation tends to rent houses instead of buying them. It shouldn’t affect real estate entrepreneurs much. Because it is still necessary to have someone buy real estate. to rent out
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Developing housing at an appropriate price level, such as the price level of 7โ80,000 baht per square meter. The quantity is small due to the high cost. causing most entrepreneurs to set prices more than 100,000 baht per square meter.
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As for the Thai real estate market in 2024, it still faces challenges from various factors. But in the long run, there is still a possibility of growth. Entrepreneurs need to adapt to changing real estate demand trends.
