The three associations view the overall Thai real estate market in 67 as stabilizing and are moving forward to jointly organize the 45th Home and Condo Expo to instill consumer confidence and stimulate purchasing power at the beginning of the year.

Mr. Phumiphat Promma, Chairman of the Organizing Committee for the 45th Home and Condo Expo

Mr. Phumiphat Promma, Chairman of the Organizing Committee for the 45th Home and Condo Expo, stated that for this event, the Thai Condominium Association, the Thai Real Estate Association, and the Housing Business Association are confident that the real estate market in the first quarter of 2024 presents a good opportunity for those looking for housing. The organizing committee is working together to invigorate the Thai real estate market. This year, the concept is "Property Solutions for a Better Life" to elevate and create a new perspective for the Home and Condo Expo that meets the housing needs of people of all genders, ages, and lifestyles who are looking to buy homes in their preferred locations, with the right project formats and functional homes or condominiums that suit the style of each consumer generation. The event will take place from March 21 to 24, 2024, at Hall 5, LG Floor, Queen Sirikit National Convention Center.

Mr. Pornnaris Chuanchaisit, President of the Thai Real Estate Association

Due to the changing social context, modern consumers, particularly from the Gen Y and Gen Z groups, are the two main demographics looking to purchase homes for living. They prioritize the selection process based on the design and functionality of the living space that meets their lifestyle needs. Additionally, they have higher expectations for property developers to provide new experiences, whether through improved after-sales services, the introduction of new technologies, or exclusive benefits from partner brands related to various lifestyle aspects to align with the rapidly changing consumer behavior. Trends such as Pet Friendly and AI technology in new products are prompting property developers to create projects that cater to the broader needs of the new generation of consumers. Therefore, for the 45th Home and Condo Expo, we are attentive to every customer need and ready to present a range of products that address consumer demands in all dimensions. At the same time, we are prepared to offer support in terms of financing and attractive promotional campaigns to help fulfill the dreams of those wanting to own a home, making the home-buying process easier, Mr. Phumiphat added.

Mr. Wasan Kiangsiri, President of the Housing Business Association

The highlight of this event is to ensure that consumers receive maximum satisfaction and benefits. The organizers have prepared prizes worth over 1 million baht, especially on Thursday and Friday, where booking immediately enters a lucky draw throughout the day. Additionally, there will be a second chance draw during the four-day event for consumers who make purchases on the day of the event, with a grand prize of an MG 5C car to be drawn on the final day. All of this aims to make home buying easier and more beneficial for consumers.

Mr. Phumiphat further stated, "For the early-year segment expected to sell best is the category of condominiums and horizontal houses priced at 7-10 million baht and above. Meanwhile, products in the housing segment priced below 5 million baht may be affected by factors such as limited purchasing power in certain groups, high household debt, strict bank loan assessments, and existing LTV measures. However, I believe there are still opportunities to move forward as the overall outlook for the real estate market in 2024 remains positive, supported by the direction of interest rates which have peaked and will stabilize. Additionally, I believe that soon the government may introduce policies or measures that benefit consumers and property developers across all groups to further stimulate the Thai real estate sector at the beginning of this year. Furthermore, external factors such as interest rates, conflicts, or disasters may encourage more foreigners to move to live in Thailand this year."

The 45th Home and Condo Expo is the largest event in the real estate sector to kick off the Year of the Golden Dragon, with the organizing committee allocating a public relations budget of over 20 million baht. They also emphasize outreach to a broader target audience through extensive media coverage via television, radio, online media, social media, and various Out of Home channels. It is expected that over 150 companies will participate in the event, showcasing more than 1,000 projects from across the country, along with packed promotions from property developers and financial institutions. The target attendance for the 45th Home and Condo Expo is estimated to be between 50,000 and 80,000 visitors over the four days, with anticipated sales exceeding 4 billion baht during the event, Mr. Phumiphat concluded.