The Supalai Research Department has examined the lowest prices of single-detached houses and townhomes in Bangkok and its vicinity from newly launched projects in 2017 and 2018. They calculated the average lowest prices of single-detached houses and townhomes from each project in 14 zones and compared these averages between 2017 and 2018 to see how prices have changed.

Using land prices or the prices of land with newly built houses serves as the closest indicator of the housing and land market conditions.

          Table 1 shows the sampling of land prices in 12 zones in Bangkok and its vicinity, revealing that land prices in Bangkok decreased by an average of 15.8% in 2018 compared to 2017. This figure does not indicate that land prices in general have decreased, but rather that newly available land for sale is further away from the city center, which is the reason for the drop in prices of newly available land.

          Land prices alone do not indicate the direction of properties with houses. Table 2 illustrates the changes in prices of newly available townhomes and single-detached houses between 2017 and 2018. The sampling shows that townhomes in the Phahonyothin-Ramintra zone have significantly adjusted towards higher value products, while townhome prices in the Bangna-Samut Prakan zone have decreased as a movement towards offering lower-priced products within the same zone. For single-detached houses, the eastern zone is the only area where prices have significantly increased.

          However, the products that have seen significant price adjustments for land with houses depend on the land's environment and the creativity of the developers. On average, townhome prices have increased by 22.1% and single-detached house prices by 42.9% in Bangkok and its vicinity, indicating that residential products are adjusting towards significantly higher prices.

          The aforementioned does not imply a general trend for all products in the market but rather reflects the trend of newly launched products. Some parts of the market still offer products to low-income individuals at the lowest prices permissible by current laws, and this lowest-priced product segment has also shown a tendency to decrease in price between 2017 and 2018. As shown in Figure 1, the lowest-priced single-detached houses come from the Rangsit-Pathum area, which is the only area in Bangkok conducive to developing single-detached houses. The cheapest townhomes in 2018 were from the Bangna-Samut Prakan zone, and from the Suksawad zone in 2017.

Therefore, low-income individuals are not entirely unable to find suitable land and houses in Bangkok and its vicinity; they may just have limited options to choose from.

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