The Real Estate Information Center of the Government Housing Bank (REIC) has compiled data on second-hand housing across the country from listings on private company websites with a high volume of sales announcements, as well as data from state and private financial institutions, government and private asset management companies, and the Department of Legal Execution, which are listed for sale on the second-hand housing market website (www.taladnudbaan.com) to provide the most comprehensive supply data for second-hand housing in the market.

Dr. Vichai Wiratthakhan, the bank inspector and acting director of the Real Estate Information Center, revealed that the nationwide second-hand housing market in Q2 2022 had an average of 162,716 units per month and an average monthly value of 995,488 million baht, marking the highest number of units and value in the past six quarters, with a 17.9% increase compared to the previous quarter (QoQ), with growth observed in nearly all types of housing.

The survey also found that the most frequently listed type of second-hand house was single-detached houses, totaling 64,392 units, followed by condominiums with 49,250 units and townhouses with 42,626 units. The type with the highest QoQ growth was condominiums, which increased by 21.1%, followed by commercial buildings at 19.9%, townhouses at 17.1%, and single-detached houses at 16.6%. However, duplex houses saw only a 1.9% increase.

Additionally, it was found that during Q2 2022, the price level of second-hand houses listed for sale most frequently was under 1.00 million baht, followed by the price range of 3.01 – 5.00 million baht and 2.01 – 3.00 million baht, respectively. Notably, the price level with the highest growth rate compared to the previous quarter was under 1.00 million baht, which saw a change of 56.1% QoQ, followed by the price range of 1.01 – 1.50 million baht at 17.7% and 1.51 – 2.00 million baht at 14.3%. This reflects that second-hand houses priced under 3 million baht are increasingly being listed for sale, possibly due to measures to stimulate the real estate business by reducing transfer and mortgage fees for properties priced under 3 million baht, which also applies to second-hand housing, aligning with the decreasing purchasing power of buyers.

Dr. Vichai Wiratthakhan stated that the top 10 provinces with the highest number of second-hand house listings in Q2 2022 were Bangkok, Nonthaburi, Samut Prakan, Phuket, Chonburi, Surat Thani, Pathum Thani, Chiang Mai, Prachuap Khiri Khan, and Nakhon Ratchasima. It can be seen that these are large provinces that have seen significant new housing development in recent times. Bangkok alone accounted for 38.6% of the total number of units and 62.2% of the total value of all listings, while provinces ranked 2 to 10 had less than 10% of the total value and units compared to the nationwide figures. However, these 10 provinces combined accounted for 90.2% of the total value, while the remaining 67 provinces accounted for only 9.8% of the total value (with a combined unit share of 27.5%). Nevertheless, the provinces with the highest QoQ change in average monthly value were Chonburi with a 20.6% change, followed by Samut Prakan at 9.3% and Bangkok at 6.6%, with other provinces showing a 12.3% change, indicating that there are also significant changes occurring in other provinces.

Table 1: Number of Units and Average Monthly Value of Second-Hand Housing Listings Nationwide