Thais optimistic about the future of the property market, says DDproperty
The survey uncovered that most were willing to pay premium for a sustainable home
In the recently-published Thailand Consumer Sentiment Study by DDproperty, property buyers across all age groups disclosed that the opinion of developers and property agents regarding the future of the market is the least crucial factor when they are making a purchase decision.
The country’s premier property website acknowledged the importance of local buyers’ confidence when it comes to the success of the property market since it will spur spending and boost transaction volumes.
Their survey uncovered that 75 percent of Thais plan to purchase a property and more than half aspire to do so in the next couple of years.
More: Thailand’s residential market price index records its lowest level yet since 2017
These buyers, however, revealed that they prefer to invest in new properties, which implies the need for developers to continue building.
As for the buyers’ preference, DDproperty found that 81 percent of participants were willing to pay higher for an environmentally sustainable residence, which is something that developers should consider to create product interest and potentially increase profits.
“In conclusion, Thais continue to see bricks and mortar as a wise investment asset. Their thirst for new properties will ensure take-up rates for newly launched projects will remain strong, however, at the same time, this will devalue resale properties and is a large mindset to be overcome in the future,” said the report.
For more insights, visit ddproperty.com/en/property-news/2020/6/189104/positive-property-market-outlook-amongst-thais
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