High property price in central Bangkok are driving demand in suburban areas

High property price in central Bangkok are driving demand in suburban areas

Thailand Real Estate Update: KUN and the Horizontal Real Estate Landscape

As we step into the second half of 2023, the real estate landscape in Thailand is witnessing a shift in consumer preferences. Here’s a snapshot of the insights shared by KUN’s CEO, Kunawee Tewakul:

πŸŒ† Urban vs. Suburban

  • High property prices in central Bangkok are driving demand in suburban areas.
  • Consumers are leaning towards homes with larger spaces, a trend fueled by changing work dynamics.

πŸš† Transportation Developments

  • The newly launched yellow electric train line and the upcoming pink line (2024) are enhancing connectivity between the suburbs and the city.
  • The government’s M-MAP 2 plan aims to further expand the electric train network by 2029.

πŸ“ˆ Economic Outlook

  • A promising economic recovery is on the horizon, backed by government policies to boost domestic consumption and tourism.
  • Tourism is expected to flourish with an anticipated 29.5 million foreign tourists in 2023, a significant increase from previous years.

πŸ’Ό KUN’s Performance

  • KUN reports a 30.40% increase in total revenue in Q2 2023, and a 300% surge in net profit.
  • Venturing into a new market segment with products priced between 6-10 million baht to cater to new customer groups.

Despite challenges such as rising interest rates affecting housing loans, the outlook remains optimistic. Stay tuned for more updates as we keep a close eye on the evolving real estate trends in Thailand!