"PropertyGuru Thailand Property Awards," the prestigious award in the Thai real estate industry, is preparing for its grand 19th edition, driving standards to an international level. This year, it introduces a new award category focusing on 'sustainability, investment excellence, and coexistence with nature.' Despite the overall market facing various challenges, a survey reveals that 88% of buyers are willing to pay more for environmentally friendly homes, and 46% are concerned about the financial stability of developers. Nominations for the awards are open nationwide until July 5, with the awards ceremony scheduled for September 20, 2024.

            The real estate sector is gearing up to compete for the title of the best in Thailand at the 19th PropertyGuru Thailand Property Awards, with an expanded range of award categories compared to last year, responding to the evolving demands of Thailand's real estate market, one of the most dynamic in Southeast Asia.

        Mr. Jules Kay, General Manager of PropertyGuru Asia Property Awards and Events, stated, "The 19th PropertyGuru Thailand Property Awards serves as a platform that emphasizes the credibility, stability, and sustainability of property developers, qualities that both Thai and international buyers and investors prioritize when preparing to invest in the best real estate. It is crucial for the real estate business to adjust strategies to gain acceptance and success. This event is a proud recognition of outstanding property developers amidst various challenges faced over the past year."

        Ms. Suphin Meesukcheep, Chair of the Judging Panel in Thailand and CEO of Sen X Public Company Limited, invited everyone in the Thai real estate industry to participate in the 19th PropertyGuru Thailand Property Awards, a platform that honors real estate companies with a long-standing record of excellence in Thailand. This year's event reflects confidence in the real estate sector, bolstered by infrastructure development that enhances access to various outstanding properties, from affordable to luxury markets, while also recognizing companies that operate under ESG (Environmental, Social, and Governance) principles, which are vital for the future of Thailand's real estate business.

Nominations for the best developers and real estate projects across Thailand are now open until July 5, 2024, via asiapropertyawards.com/nominations. The awards gala dinner and ceremony will take place on September 20, 2024, at The Athenee Hotel, Bangkok, a Luxury Collection Hotel.

Key Dates for the 2024 Awards Judging:
 Nominations for developers and real estate projects are currently open online at asiapropertyawards.com/nominations
 July 5, 2024 – Nominations close
 July 15 - August 23, 2024 – Judges review and visit projects
 August 27, 2024 – Final award decisions made
 September 20, 2024 – Gala dinner and awards ceremony held in Bangkok
 December 13, 2024 – Regional gala dinner and awards ceremony held in Bangkok

New Award Categories for 2024

This year, over 226 award categories will be announced to honor property developers, designers, and projects nationwide, including the introduction of a new ESG award category to recognize outstanding real estate companies in sustainable design, sustainable construction, energy efficiency, and minimal social impact.

The award categories this year also expand to honor the best developers in Thailand and other provinces with new titles such as Best Ultra Luxury Developer (Bangkok), Best Ultra Luxury Developer (Phuket), Best Luxury Developer (Bangkok), Best Luxury Developer (Phuket), Best Mixed Use Developer (Phuket), Best Boutique Developer (Phuket), and Best Mega Mixed Use Developer. Additionally, new awards will recognize the best investment real estate projects, projects that integrate with nature, and sales galleries.

Real Estate Market Adapting to Changing Consumer Behavior

The expanded award categories this year are a response to the real estate market adapting to the changing demands of consumers. The DDproperty Thailand Property Market Report for Q1 2024 indicates that rising minimum wages and construction costs have led to an increase in home prices in Thailand, with the residential property price index rising over 2% compared to Q4 2023.

            Although the Thai real estate market currently faces various challenges, buyers and investors continue to show interest in property ownership, prioritizing quality developers who operate with sustainability in mind.

            According to DDproperty's consumer confidence survey in Thailand for the first half of 2024, 43% of Thais intend to purchase real estate in the coming year. Additionally, about 88% of Thais are willing to pay more for homes that are environmentally friendly and health-conscious. Furthermore, when selecting real estate projects, most Thais consider the quality of interior finishes (48%), the track record of past projects (46%), and the financial stability of the company (46%).

Outstanding Developers Set to Represent Thailand on the International Stage Leading property developers such as Sena Development Public Company Limited, Habitat Group Co., Ltd., and The M District Co., Ltd. received various awards at the 18th PropertyGuru Thailand Property Awards.

            Award-winning developers from last year, including Andaman Asset Solutions Co., Ltd., Kingbridge Tower Co., Ltd. (a subsidiary of Sahapattana Inter-Holding Public Company Limited), and Phuket Nine Co., Ltd., represented Thailand in the regional finals and won the best awards in Asia at the 18th PropertyGuru Asia Property Awards Grand Final.

            An independent panel of judges, comprising experts from various sectors of the real estate industry, ensures a fair and transparent judging process, resulting in the selection of finalists and winners across categories. The entire selection process is overseen by HLB, a global network of leading accounting and advisory firms.

The 19th PropertyGuru Thailand Property Awards is organized by PropertyGuru Group (NYSE:PGRU), a leading real estate technology company in Southeast Asia, supported by Mitsubishi Elevator (Thailand) as a platinum sponsor, DDproperty as the official portal partner, Property Report by PropertyGuru as the official magazine, Infinity Communications and Consultants as the public relations partner, Think of Living as the media partner, and HLB Thailand as the official judging process overseer.

For more information, please contact via email at [email protected] or visit the website AsiaPropertyAwards.com