The Home Builder Association is accelerating its efforts to expand its membership base to larger organizations, opening the door for new members including architects, engineers, and a new generation of home builders to increase the overall market value of the industry, driving strong growth in the home building sector. The home building market has seen growth over the past 5 months.

        Ms. Siriporn Singharun, President of the Home Builder Association (HBA) revealed that the association aims to drive policies to expand its size into a larger organization to increase the overall market value of the business, which currently stands at approximately 11 billion baht, thereby enhancing the growth of the home building industry.

        The goal is to increase the membership network of all types by at least 10% from the current total of 134 members, which includes 55 home builders and the remainder being material suppliers. This will involve increasing the number of members in both the home building and material sectors, particularly by expanding the base of associate members, which consists of quality new home builders who have been in business for at least one year and have completed projects worth no less than 5 million baht within three years. This aims to strengthen the home building industry, including welcoming members from other provinces, recognizing the growth potential of the home building business in those areas.

       “The home building business is interconnected in many dimensions. Completing a house involves more than just the supply chain; it includes aspects such as land filling, interior decoration, furniture, kitchen sets, security systems, convenience equipment, and landscaping. Therefore, we are gathering these partner businesses as members to provide comprehensive services to customers, which will strengthen the business further,”

       Ms. Siriporn continued, discussing the overall home building market over the past 5 months (January to May 2023), which has shown continuous growth. Positive factors include GDP growth and the clear advancement of large government projects, along with improving consumer purchasing power due to increased confidence in the country’s economic conditions. This has led to ongoing interest and demand for new home construction. Additionally, the trend of rising home building prices is influenced by the nationwide increase in minimum wage rates, which will affect construction material prices and subsequently raise average construction costs, prompting consumers to decide to build homes more quickly.

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