The Real Estate Information Center of the Government Housing Bank (REIC) <\/strong><\/span>has surveyed and compiled data on second-hand housing across the country from listings on private company websites with a high volume of sales announcements, as well as second-hand housing data from state and private financial institutions, government and private asset management companies, and the Department of Legal Execution, which are listed on the second-hand housing market website (www.taladnudbaan.com) to provide the most comprehensive supply data for second-hand housing in the market.<\/strong><\/span><\/p>

<\/p>

Dr. Wichai Wiratthakhan, the Bank Inspector and Acting Director of the Real Estate Information Center <\/strong><\/span>revealed the results of the second-hand housing data survey that as of the end of Q4 2022, <\/span>the second-hand housing market saw a 13.4% increase in listings, but the value decreased by 7.2% respectively <\/strong><\/span>compared to the same period last year, with most growth occurring in the price range of up to 3 million baht.<\/span><\/p>

Specifically, <\/span>the price range of up to 1.00 million baht increased by 10.8%, the price range of 1.01 - 1.50 million baht increased by 4.0%, and the price range of 2.01 - 3.00 million baht increased by 6.3%. The only exception was the price range of 1.51 - 2.00 million baht, which saw a slight decrease of only 0.4%. Most of these listings were for second-hand condominiums and townhouses.<\/span><\/p>

<\/p>

Additionally, <\/span>the data on the transfer of ownership of second-hand housing over the 11 months of 2022 also showed significant growth in the price range of up to 3 million baht. <\/strong><\/span>The price range of up to 1.00 million baht grew by 24.9%, the price range of 1.01 – 1.50 million baht grew by 24.7%, the price range of 1.51 – 2.0 million baht grew by 19.4%, and the price range of 2.01 – 3.00 million baht grew by 36.2%. This growth in second-hand housing in the price range of up to 3 million baht was driven by significant incentives from economic stimulus measures in the real estate sector, which allowed for reduced transfer and mortgage fees to just 0.01%, encouraging more supply in this segment to enter the market. Furthermore, it was found that most home sellers and buyers were located in the top 10 areas, namely: <\/strong><\/span>Bangkok, Nonthaburi, Samut Prakan, Chonburi, Phuket, Pathum Thani, Chiang Mai, Prachuap Khiri Khan, Nakhon Ratchasima, and Surat Thani.<\/strong><\/span><\/p>

<\/p>

Supply of Second-Hand Housing Nationwide:<\/span><\/strong> <\/span><\/span>

As of the end of Q4 2022, there were 162,787 units listed for sale, with a total value of 860,415 million baht. Compared to Q3 2022, which had 162,923 units and a value of 962,188 million baht, there was a decrease of 0.1% and 10.6% respectively. However, compared to Q4 of the previous year, the number of second-hand housing listings increased by 13.4%, while the value decreased by 4.7%.<\/span><\/p>

Nonetheless, when considering the average per quarter in 2022, which had 162,320 units and a value of 961,757 million baht, this represents an increase of 52.6% and 31.7% respectively from 2021.<\/span><\/p>

<\/p>

Types of Second-Hand Housing:<\/span><\/strong><\/span>

When considering the types of second-hand housing listed for sale, as of the end of Q4 2022, the most frequently listed types clustered into three categories as follows:<\/span><\/p>

(1) Single-family homes: 67,907 units (41.7%) valued at 461,011 million baht (53.6%)<\/span><\/p>

(2) Townhouses: 44,722 units (27.5%) valued at 109,616 million baht (12.7%) and <\/span><\/p>

(3) Condominiums: 44,016 units (27.0%) valued at 257,896 million baht (30.0%).<\/span><\/p>

Commercial buildings and duplex homes had the lowest proportion of units and values listed for sale.<\/span><\/p>

When comparing Q4 2022 with the previous quarter (QoQ), it was found that in all types, single-family homes saw an increase of 4.5% and townhouses increased by 5.5%. However, the number of condominiums decreased by 9.7%, commercial buildings decreased by 8.6%, and duplex homes decreased by 11.5%.<\/span><\/p>

In terms of value, there was a decrease in almost all types, with single-family homes decreasing by 1.7%, condominiums decreasing by 26.8%, townhouses decreasing by 1.9%, and duplex homes decreasing by 15.9%. However, commercial buildings increased by 17.4% compared to the previous quarter.<\/span><\/p>

<\/p>

Selling Prices of Second-Hand Housing:<\/span><\/strong><\/span>

When considering the selling prices of second-hand housing as of the end of Q4 2022, it was found that the price levels with the most listings clustered into three price ranges as follows:<\/span><\/p>

(1) First, the price range of up to 1.00 million baht: 40,364 units (24.8%) but with a relatively low value of 21,807 million baht (2.5%), with an average price per unit of 0.5 million baht.<\/span><\/p>

(2) Second, the price range of 2.01 – 3.00 million baht: 25,417 units (15.6%) valued at 63,941 million baht (7.4%), with an average price per unit of 2.5 million baht.<\/span><\/p>

(3) Third, the price range of 3.01 – 5.00 million baht: 24,998 units (15.3%) valued at 97,964 million baht (11.4%).<\/span><\/p>

It can be seen that although there were only 15,458 units (9.5%) listed for sale in the price range of over 10 million baht, their total value was as high as 485,183 million baht (56.4%), with an average price per unit of 31.4 million baht. The price range of 5.01 - 7.50 million baht had 12,906 units, decreasing by 11.7%, and the price range of 7.51 - 10.00 million baht had 6,446 units, decreasing by 14.6%. The price range of over 10.00 million baht had 15,458 units, decreasing by 16.4%.<\/span><\/p>

<\/p>

When considering the number of second-hand housing units listed for sale in each price range, it was found that as of the end of Q4 2022, second-hand housing in many price ranges saw a decrease in units compared to the previous quarter (QoQ), particularly in the price range of over 3 million baht. The price range of 3.01 - 5.00 million baht decreased by 1.6%, the price range of 5.01 - 7.50 million baht decreased by 11.7%, the price range of 7.51 - 10.00 million baht decreased by 14.6%, and the price range of over 10.00 million baht decreased by 16.4%.<\/span><\/p>

It is noteworthy that second-hand housing in the price range of up to 3 million baht has expanded from the previous quarter, with the price range of up to 1.00 million baht increasing by 10.8%, the price range of 1.01 - 1.50 million baht increasing by 4.0%, and the price range of 2.01 - 3.00 million baht increasing by 6.3%. The only exception was the price range of 1.51 - 2.00 million baht, which saw a slight decrease of only 0.4%. Most of these listings were for second-hand condominiums and townhouses.<\/span><\/p>

The current state of listings in the second-hand housing market has emerged to meet the increasing demand for second-hand housing in the market, as evidenced by the transfer of ownership of second-hand housing over the 11 months of 2022, which also showed significant growth in the price range of up to 3 million baht. The price range of up to 1.00 million baht grew by 24.6%, the price range of 1.01 – 1.50 million baht grew by 24.7%, the price range of 1.51 – 2.00 million baht grew by 19.4%, and the price range of 2.01 – 3.00 million baht grew by 36.2%. This growth was driven by significant incentives from economic stimulus measures in the real estate sector, which allowed for reduced transfer and mortgage fees to just 0.01%, encouraging more supply in this segment to enter the market.<\/span><\/p>

Location of Second-Hand Housing:<\/span><\/strong><\/span>

For the provinces with the highest value of second-hand housing listings as of the end of Q4 2022, the top 10 provinces are:<\/strong><\/span>Bangkok, Nonthaburi, Samut Prakan, Chonburi, Phuket, Pathum Thani, Chiang Mai, Prachuap Khiri Khan, Nakhon Ratchasima, and Surat Thani.<\/span> This aligns closely with the provinces where the transfer of ownership of second-hand housing also occurred.<\/p>

In this regard, <\/span>Bangkok had 55,852 units listed for sale, accounting for 34.3% and had the highest value at 518,480 million baht, representing a significant 60.3% of the total nationwide.<\/strong><\/span> Meanwhile, provinces ranked 2 to 10 had unit counts and values ranging from 0.8% to 6.8%, which is less than 10% compared to the total value and units nationwide. However, these 10 provinces accounted for 67.6% of the total units and 87.3% of the total value, while the remaining 67 provinces accounted for only 32.4% of the total units and 12.7% of the total value.<\/p>

However, it was found that most of the provinces with the highest values in the top 10 experienced a decrease in value compared to the previous quarter (QoQ), with only Surat Thani showing an increase of 3.8%. Additionally, other provinces outside of the top 10 also showed an upward trend in value changes.<\/strong><\/span><\/p>