Real Estate Information Center, Government Housing Bank (REIC)  reveals an overview of the housing market still for sale in the second half of 2022 in the central-western provinces, finding that the Rojana Industrial Estate - Northern Cha-am area has the highest unsold units valued at over 20 billion baht.

Dr. Vichai Wiratthakpan, Inspector of the Government Housing Bank and Acting Director of the Real Estate Information Center, stated that for the central region, in the second half of 2022, there were 9,899 units available for sale, valued at 30,908 million baht, comprising 608 condominium units valued at 1,142 million baht and 9,291 housing project units valued at 29,765 million baht.

New projects totaled only 689 units valued at 1,832 million baht, with 1,019 units sold, valued at 2,843 million baht, resulting in 8,880 unsold units valued at 28,065 million baht, an increase of 12.5% in units and 30.3% in value.

The housing market in the central region during the second half of 2022 saw new housing project developments in Saraburi and Phra Nakhon Si Ayutthaya, with condominium projects only in Phra Nakhon Si Ayutthaya. Saraburi had the highest absorption rate for housing projects at 1.9%, while Phra Nakhon Si Ayutthaya had the highest absorption rate for condominiums at 5.7%, which is higher than the previous period due to increased sales, although still not as good as expected. The price range with the most unsold units is 2.01-3.00 million baht, totaling 3,260 units valued at 8,410 million baht.

The top 5 locations with the highest number of unsold units in 5 central provinces are:

  • 1. Rojana Industrial Estate: 3,444 units valued at 13,975 million baht
  • 2. Bang Pa-in Industrial Estate: 2,174 units valued at 5,260 million baht
  • 3. Wang Noi: 1,111 units valued at 2,739 million baht
  • 4. Saraburi City: 869 units valued at 2,941 million baht
  • 5. Nong Khae: 806 units valued at 2,044 million baht

 

In the western region, the real estate market saw a 20.7% increase in available residential units compared to the same period last year, mostly from unsold units from the first half of 2022, resulting in an overall market absorption rate of 3.2% and a 6.8% increase in unsold units in the second half of 2022.

There were 6,760 units available for sale, valued at 31,322 million baht, comprising 3,737 condominium units valued at 16,215 million baht and 3,023 housing project units valued at 15,107 million baht. Only 663 new units valued at 1,636 million baht entered the market, with 1,306 units sold, valued at 5,550 million baht, resulting in 5,454 unsold units valued at 25,772 million baht. The price range with the most unsold units is 3.01-5.00 million baht, totaling 2,121 units valued at 8,884 million baht.

The top 5 locations with the highest number of unsold units in 5 western provinces are:

  • 1. Northern Cha-am: 1,459 units valued at 6,113 million baht
  • 2. Southern Cha-am: 875 units valued at 3,276 million baht
  • 3. Khao Takiab: 727 units valued at 5,345 million baht
  • 4. Khao Hin Lek Fai: 600 units valued at 3,253 million baht
  • 5. Thap Tai: 536 units valued at 2,782 million baht

In the western region, new housing project developments are occurring only in Phetchaburi, while condominiums are available in both Prachuap Khiri Khan and Phetchaburi. Among these two western provinces, Phetchaburi has the highest absorption rate for housing projects at 2.1%, and Prachuap Khiri Khan has the highest absorption rate for condominiums at 6.6%.