The Housing Business Association, the Thai Condominium Association, and the Thai Real Estate Association are set to organize the 44th Home and Condo Expo, aiming to stimulate the real estate market in the final quarter, confident that consumers will respond positively to the event.

Dr. Tappathep Phakkanok, Chairman of the Organizing Committee for the 44th Home and Condo Expo stated that the expo will take place from November 2 to 5, 2023, from 10:00 AM to 8:00 PM at Hall 5, Queen Sirikit National Convention Center. This time, the concept will be “Property Solutions,” providing everything in one place, elevating the event to meet the lifestyle needs of consumers across all demographics. The event will feature 150 companies presenting over 1,000 projects from across the country, including Bangkok, the surrounding areas, and cities like Chiang Mai, Phuket, and Chonburi. The projects will consist of approximately 30% single houses, 25% townhouses, 35% condominiums, and 10% other offerings such as suppliers, construction materials, banks, and NPA groups, along with promotions for those who book homes or condos during the event.

It is believed that the current upward trend in the real estate market in the final quarter, coinciding with the high season, will lead to a positive reception for the 44th Home and Condo Expo, thanks to promotions from both developers and banks participating to stimulate the market as the year ends. This event is well-known among consumers and is the largest event in the real estate sector, featuring a wide range of leading brands offering attractive promotions, along with special event promotions.

It is expected that over the four days, between 50,000 to 80,000 people will attend the event, with a transaction value exceeding 3 billion baht. The organizing committee has allocated a public relations budget of around 20 million baht to disseminate information widely through television, radio, online media, social media, Out of Home advertising, and media in MRT stations, including the connections at Silom and Sukhumvit stations, as well as Digital Billboards at Asoke, Queen Sirikit National Convention Center, and Bonkai, Rama 4.

Regarding the overall real estate business in the country this year, it has been on an upward trend. Although interest rates are rising, which has reduced purchasing power, the overall trend is improving compared to 2022, when household debt rose to about 90% of GDP, and housing prices increased, leading to a contraction in supply and demand and a decrease in property transfers. However, now that the city has reopened and everything has returned to normal with a new government, economic stimulus measures from the government are ongoing, and purchasing power is increasing across single houses, townhouses, duplexes, and condominiums. The best-selling segment this year has been condominiums, followed by single houses, townhouses, and duplexes.

“The best-selling segment is in the upper to Super Ultra Luxury range, priced between 7.5 million to over 10 million baht, with transfers increasing by about 18% compared to last year. All levels of condominiums have seen increased transfers, except for those priced around 2 to 3 million baht, which have decreased due to consumers facing financial issues, such as loan rejections or the LTV measures from the Bank of Thailand, which could be seen as a trap. If these measures can be revised, it would improve the situation. Meanwhile, the measures to stimulate real estate by reducing mortgage and transfer fees to 0.01%, which will end on December 31 of this year, are expected to be extended by the new government, and there may be discussions with the Bank of Thailand regarding adjustments or cancellations of the LTV measures. For condominiums priced at 10 million baht, transfers have increased by 49% from the beginning of the year to the third quarter.”