The Home Builder Association (HBA) has showcased its achievements for 2022, demonstrating remarkable growth with nationwide home construction bookings exceeding 8 billion baht and a doubling of membership. The association has strengthened its network of collaboration with private partners and government agencies to enhance the industry's sustainability, indicating that the overall home construction market in 2023 will continue to expand due to positive real demand factors.

 

Mr. Worawut Kanjanakul, President of the Home Builder Association (HBA), revealed the overall performance of the association in 2022, stating that this year has been marked by challenges and uncertainties, including the COVID-19 pandemic, rising construction material costs, labor costs, and the overall economic situation. Despite these limitations, the association achieved its growth targets through its operational strategies and collaboration with partners to create new initiatives.

The association set a record for the overall market value of home construction bookings, successfully pushing the value to 12.5 billion baht through marketing activities and educating consumers about the services offered by home construction companies. Two major events contributed to raising awareness of the association's role and mission while generating sales: the "Home Construction and Materials Focus 2022" event held from March 30 to April 3, 2022, which saw bookings reach 4 billion baht.

The other event, "Home Construction and Materials Expo 2022: Build-Change-the World," took place from September 14 to 18, 2022, achieving a record booking of 4.3 billion baht, marking a historic milestone in the 18 years of continuous events, attracting over 12,000 attendees.

In addition to the home construction bookings, Mr. Worawut mentioned that the collaboration with partners on various projects initiated in 2022 will continue into 2023. These include projects promoting energy conservation and renewable energy in the residential sector, establishing construction standards for residential homes, and a dual vocational student program in collaboration with the Office of the Vocational Education Commission.

Furthermore, partnerships have been formed on various projects, such as the energy-efficient housing project, with cooperation agreements signed with five agencies under the "Promotion of Energy Conservation and Renewable Energy in the Residential Sector" initiative.

In collaboration with the Faculty of Engineering at Chulalongkorn University, standards for residential construction are being developed to enhance the quality of work for HBA members and build consumer confidence. The standards are expected to be announced by the end of this year, with plans to pilot them with association members before expanding to the larger HBA community. Currently, the association has 135 member companies, comprising 72 home construction firms and 63 building material companies, with a growing trend, especially in provincial areas and outskirts.

The association places great importance on continuously developing new skills and knowledge in construction for its members. In 2022, it conducted the Home Builder Expert #5 training program, providing knowledge in various areas, such as sales techniques to win over customers and energy-efficient home design. Each course and training session was offered both in-person and online, with participation ranging from 50 to 100 attendees.

The association also organized several study tours related to construction materials, visiting factories such as the Crocodile Corporation, Lixil (Thailand) Public Company Limited, Nawaplastic Industry, Toto (Thailand) Showroom, Grand Home Mart Showroom, and others.

"Projects planned for 2023 will focus on advancing training and skill development, aiming to elevate it into a Home Builder Academy," Mr. Worawut stated.

Market Outlook for Home Construction in 2023

Regarding the market outlook for home construction in 2023, Mr. Worawut noted that while there are still negative factors such as rising interest rates, uncertainty in oil prices, and the depreciation of the baht affecting construction material costs and transportation, the positive growth in the home construction market in 2022 indicates that the demand for residential homes (real demand) remains strong. This suggests that the home construction market in 2023 is likely to continue expanding as consumers become more aware and increasingly turn to home construction companies, alongside the overall economic recovery, such as the anticipated growth rate of the Thai economy and the revival of tourism.