Ms. Sumitra Wongphakdee, Managing Director of Terra Media and Consulting Co., Ltd., or TERRA BKK stated that from the research findings of The Most Powerful Real Estate Brand 2023 and an in-depth analysis of consumer behavior based on the concept of
Well-Being and Sustainable Lifestyle from a survey of 2,000 respondents, it was found that over 42% plan to buy a house within the next three years. The majority prefer to purchase single-family homes and townhomes in the price range of 3 to 7 million baht. The key factors influencing their decision to buy a home this year include a greater focus on construction materials, followed by security systems, community and environmental considerations, and after-sales service.

When delving deeper into the product categories, over 78% of respondents plan to buy single-family homes, primarily from the Baby Boomer group (aged 56 and above) and Gen Y (aged 28-41). Townhomes follow with a share of 47%, mainly from Gen X (aged 46-56) and Gen Z (aged 18-27). About 27% plan to purchase condominiums, primarily from Gen Z and Gen Y, in the price range of 2 to 7 million baht.

In terms of living behavior in 2024, most people prioritize two areas in their homes: relaxation spaces in the living room and multipurpose areas, and work-from-home setups. There is also an increasing desire for outdoor spaces or gardens, aligning with the concept of sustainable lifestyles. Research indicates that the ideal home comprises three aspects: Comfortable and Convenient Living, Safe and Secure Environment, and Well-Being, as most people view living in a complete social environment with a peaceful atmosphere and full amenities, including smart home technology, as beneficial for both physical and mental well-being.

Furthermore, the research shows that the sustainable lifestyles of different groups exhibit varying behaviors. The Gen Z group (aged 18-27) is particularly concerned with transportation, predominantly using public transport. Gen Y (aged 28-41) focuses on energy conservation, such as turning off lights when not needed. Gen X (aged 46-56) is interested in food and health, such as reducing meat consumption or eating seasonal vegetables. The Baby Boomer group (aged 56 and above) is increasingly prioritizing green technology, such as solar panels.

The sustainable lifestyles mentioned reflect consumers' housing needs that align with sustainable living, guiding future real estate project developments, such as Universal design, spa areas or health recovery programs, health and physical therapy activities, health assistance services, energy-efficient homes with solar cells/insulation, PM2.5 and virus air filtration systems, and innovations that enhance comfort, such as Smart Home, EV Chargers, and effective waste separation systems to reduce waste and protect the environment, along with pollution-free construction that is eco-friendly and reduces carbon emissions.

Regarding consumer confidence trends in 2024, the index stands at 76%, a decrease of 4% compared to last year's 80%. Although the overall index has slightly declined from the previous year, consumers still perceive this period as not an ideal time to purchase high-value items such as real estate and cars, due to the overall sluggish economy, rising interest rates, stricter financial institution policies, and increasing property prices in line with new construction costs, which affects new loan applications and leads some customers to delay their purchasing decisions.

This aligns with data from the TerraBYTE application, indicating that the real estate market trend in 2023 has slightly decreased, particularly in the condominium market, which has seen a noticeable decline. This is the largest market segment in the housing sector, with reduced supply and declining sales rates. The townhome segment is recovering, especially for those priced above 5 million baht, which has seen growth in sales rates. The single-family home market is also growing, particularly for homes priced between 10-25 million baht, which have consistently shown sales growth, primarily driven by real demand from high-income earners who are less affected by economic downturns and are looking to change residences.

For the announcement of the award results for Real Estate: The Most Powerful Brand 2023 for the year 2023, the winner this year is Sansiri Public Company Limited, marking the brand's return to receiving the award again. Sansiri stands out in terms of Brand Fame, being a well-known brand, Dynamic, constantly adapting, and Trusted, a brand that consumers trust in quality. These three aspects are crucial for consumers' purchasing decisions, making it the number one brand in terms of being a “leading brand,” especially in the “single-family home” category, and the top brand that consumers consider purchasing, particularly among Gen Z and the Middle Income group.

Meanwhile, Land and Houses Public Company Limited this year received the Credence Award, awarded to companies recognized by customers for quality and ranked number one in the top four attributes consumers expect the most: construction standards, quality, good after-sales service, and safety. It is also the brand that residents most want to recommend, with the highest Net Promoter Score of 56% (industry average 24%).

On the other hand, Magnolia Quality Development this year received the Sustainability Development Award in Real Estate 2023, as MQDC is a brand that fully meets the needs of consumers with sustainable lifestyles, focusing on clean energy, building energy-efficient homes, reducing carbon emissions, environmentally friendly construction technology, and designs for the disabled/elderly, establishing itself as the number one brand leader in sustainable development in social, economic, and environmental aspects according to the Sustainable Development concept.

Additionally, Piamsuk Property Development Co., Ltd. this year received the special Marvel Award, awarded to companies with a prominent image comparable to major brands in the market and the brand with the highest Powerful Score among small brands (Non-Public Company).

Ms. Sasithorn Chutiponglerdsang, Deputy Managing Director of Terra Media and Consulting Co., Ltd. announced that this year the company launched TerraAgent, the latest service aimed at managing the leasing of office buildings, retail spaces, and community malls by a highly experienced team, catering to all customer groups. Currently, TerraAgent manages the leasing of Enter Terminal, the newest Grade A office building of Energy Complex Co., Ltd. (EnCo), a company in the PTT group, covering over 15,000 square meters in a prime location on Vibhavadi-Rangsit Road, opposite Don Mueang Airport, with over 30% of the leasing already secured within four months.