The Real Estate Information Center reveals that the housing market in the Northeast region remains concerning, with unsold units valued at over 43 billion baht. Overall, the real estate market in five provinces—Nakhon Ratchasima, Khon Kaen, Udon Thani, Ubon Ratchathani, and Maha Sarakham—continues to slow down since 2020.

Dr. Wichai Wiratthakhan, the banking inspector and acting director of the Real Estate Information Center (REIC), stated that a survey of housing projects currently for sale in the Northeast region including Nakhon Ratchasima, Khon Kaen, Udon Thani, Ubon Ratchathani, and Maha Sarakham, was conducted during the second half of 2020. The survey focused on housing projects and condominiums with at least six unsold units. It found that there were a total of 297 projects with 13,500 units available for sale, valued at 47.535 billion baht.

            Of these, 12,365 units remain unsold, with a total value of 43.35 billion baht. In the second half of 2020, 1,135 new housing units were sold, totaling 3.585 billion baht.

 

“Nakhon Ratchasima” has nearly 40% of its 3-5 million baht housing units unsold.

            The overall housing market in Nakhon Ratchasima has decreased by 10.4% compared to the same period in 2020, with a total of 6,161 units available. Among these, 4,480 units are from housing projects (72.7%), and 1,681 units are from condominiums (27.3%). Only 607 new projects were launched in the second half of 2020, a decrease of 53.0% from the same period in 2019. The number of new sales was 495 units, which represents an 18.6% decline compared to the previous year.

            With a total of 5,666 unsold units, this represents a 9.6% decrease compared to the same period in 2020.

            When categorized by price, it was found that most unsold units are priced between 3 - 5 million baht, totaling 2,191 units, which accounts for 38.7% of all unsold units. Meanwhile, homes priced between 2-3 million baht remain the most sold, with a total of 234 units, accounting for 47.3%.

            In the second half of 2020, the unsold units in Nakhon Ratchasima included 4,069 units from housing projects, representing 71.8% of the total unsold units. The housing market in Nakhon Ratchasima for 2021 is expected to continue slowing down due to the ongoing impact of COVID-19, with predictions indicating that the number of new units launched in the first half of 2021 will be 24.7% lower than in the first half of 2020. However, the second half of 2021 is expected to see a 45.6% increase in new units.

            The total number of new sales in 2021 is projected to be 1,793 units, valued at 5.711 billion baht. By the end of 2021, the number of unsold units is expected to be around 6,770, valued at 24.278 billion baht. The transfer of ownership in 2021 is expected to involve approximately 6,141 units, a decrease of 26.6% from the previous year, with an estimated value of 10.627 billion baht, down 38.4% from the same period last year.

 

 

“Khon Kaen” sees new supply drop by 45.1% - expected transfer value down 34.3%.

            In Khon Kaen, the overall housing market has decreased by 1.4% compared to the same period in 2020, with a total of 3,974 units available. Of these, 3,270 units are from housing projects (82.3%), and 704 units are from condominiums (17.7%). Only 411 new projects were launched in the second half of 2020, a decrease of 45.1% from the same period in 2019. The number of new sales was 346 units, which represents a 20.5% decline compared to the previous year, with a total of 3,628 unsold units, an increase of 0.9% compared to the same period in 2020.

            When categorized by price, it was found that most unsold units are priced between 3 - 5 million baht, totaling 1,393 units, accounting for 38.4% of all unsold units. Meanwhile, the most sold units remain in the 2 - 3 million baht range, with a total of 127 units, accounting for 36.7%.

            In the second half of 2020, the unsold units in Khon Kaen were primarily from housing projects, totaling 3,003 units, representing 82.8% of all unsold units.

            For the housing market direction in Khon Kaen in 2021, it is expected that the number of new units launched in the second half will increase by 25.3% compared to the previous year, with a total of 982 new units projected for 2021, valued at 3.117 billion baht.

            By the end of 2021, it is expected that there will be approximately 3,573 unsold units, valued at 12.062 billion baht. The transfer of ownership is expected to involve approximately 4,997 units, a decrease of 20% from the previous year, with an estimated value of 7.613 billion baht, down 34.3% from the same period last year.

 

 

In the second half of 2021, “Udon” plans to launch new projects up by 87%, while Ubon sees a 16% decrease in new projects.

            The housing market direction in Udon Thani in 2021 is expected to see a 87% increase in new units in the second half of the year. Overall, it is projected that there will be 255 new units in 2021, valued at 1.504 billion baht, with approximately 1,753 unsold units by the end of 2021, valued at 6.936 billion baht. The transfer of ownership is expected to involve approximately 2,855 units, a decrease of 8.2% from the previous year, with an estimated value of 4.726 billion baht, down 10.4% from the same period last year.

            Meanwhile, the housing market direction in Ubon Ratchathani in 2021 is expected to see a 16.1% decrease in new units in the second half compared to the previous year. The total number of new units projected for 2021 is 270, valued at 868 million baht, with new sales in the second half expected to increase by 77.7%.

            The total number of new sales in 2021 is projected to be 375 units, valued at 1.08 billion baht, with approximately 1,530 unsold units by the end of 2021, valued at 4.295 billion baht. The transfer of ownership in 2021 is expected to involve approximately 2,448 units, a decrease of 30.5% from the previous year, with an estimated value of 2.894 billion baht, down 48.2% from the same period last year.

            For the housing market direction in Maha Sarakham in 2021, it is estimated that there will be a 60.8% increase in the second half of the year, with a total of 152 new units projected for 2021, valued at 284 million baht. The number of new sales in the second half is expected to increase by 97.4%, with total sales projected for 2021 to be 145 units, valued at 413 million baht. The number of unsold units by the end of 2021 is expected to be around 873 units, valued at 2.55 billion baht.

            The transfer of ownership in 2021 is expected to involve approximately 1,210 units, an increase of 2.6% from the previous year, with an estimated value of 1.929 billion baht, up 17.9% from the same period last year.

 

 

Thank you for the information: Real Estate Information Center (REIC)