Number One Housing Development assesses the COVID-19 pandemic as a driving force for residents to increasingly choose low-rise real estate, particularly single-family homes in suburban areas, as an alternative to city-center condominiums.

Mr. Sutthum Suwannaphasri, Managing Director of Number One Housing Development Co., Ltd., revealed that the overall housing market still has growth opportunities this year. Although the figures may not be spectacular, he is confident that they will not turn negative. Meanwhile, analysts believe that high-rise real estate could see a decline of up to 40% due to social distancing measures making the use of common areas in condominiums more difficult, forcing residents to stay confined in their private rooms. This shift in consumer preferences is likely to impact property developers with limited cash flow, potentially leading to business closures due to the current situation.

As for the government-approved 90% reduction in land and building taxes, it is viewed as having a psychological effect rather than significantly influencing the public's decision to purchase housing. What could more effectively stimulate purchasing decisions would be the cancellation of the Loan-to-Value (LTV) measures, especially for low-rise projects, as most residents in low-rise properties are real demand buyers, not speculators or landlords like those in high-rise urban projects.

The COVID-19 pandemic, which necessitates social distancing, is expected to benefit low-rise real estate. It is believed that consumers looking for new homes will increasingly consider low-rise houses as an option, given that the prices of suburban low-rise homes are relatively affordable compared to central city condominiums, while still allowing convenient access to the city. This makes low-rise homes currently a focal point of interest.

Number One Housing Development, a market leader in Bangna real estate, is promoting its Blue Lagoon 2 project, featuring luxury single-family homes, by stimulating real demand purchasing power with special discounts of up to 2.4 million baht on luxury homes in an upscale community, with prices starting from 10.99 to 27.4 million baht on land sizes of 86.40 to 142.80 square wah and usable areas of 219 to 560 square meters. Each home is equipped with smart home automation systems that allow control of lighting and air conditioning via an app, as well as a three-tier security system. Interested buyers of luxury homes in quality communities can inquire for more details at 02-136-1331 or view project samples at https://www.bluelagoon2.com/gallery.php.