Mr. Prabhan Sak Raksaiwan, Managing Director of L.W.S. Wisdom and Solutions Co., Ltd., a real estate research and development company under LP&D Development Public Company Limited, revealed the research findings from the company’s survey on suitable locations for developing pet-friendly condominiums in Bangkok and its vicinity. According to L.W.S.'s survey at the end of 2023, it was found that by the end of 2023, there were 23,031 pet-friendly condominium units in the Bangkok metropolitan area, an increase of 4,600 units or 20% from 490 units compared to 2011, reflecting a continuous rise in housing demand from this demographic. This trend has prompted real estate developers to focus on creating pet-friendly condominium projects to meet the needs of buyers who consider their pets as family members, referred to as 'Pet Parents' or 'Pet Humanization.' This shift is a result of changing behaviors among singles or married individuals who prefer not to have children and instead treat their pets as family members rather than just house guardians as in the past.

In light of these changing behaviors, L.W.S. analyzed suitable locations for developing pet-friendly condominium projects, considering four main factors:

  1. Locations near public transportation systems to facilitate pet owners' commuting to work. Projects should be located within 3-5 km of public transport connections, such as BTS and MRT, ideally within walking distance (1 km).
  2. Proximity to essential pet-related infrastructure, such as veterinary hospitals or pet clinics, within a 3-5 km radius. LWS's survey indicated that respondents preferred condominium projects located near veterinary hospitals or clinics for timely emergency care.
  3. Locations close to retail areas, such as shopping centers or community malls that allow pets, to cater to the lifestyle of Pet Parents who enjoy engaging in activities or socializing in pet-friendly community spaces. Additionally, these shopping centers are designed to include pet food or supply stores, allowing pet owners to shop for necessities while enjoying time with their pets.
  4. Proximity to parks, ideally within a 15-minute walking distance. The survey revealed that over 56% of pet owners prefer to take their pets for walks and exercise in parks.

Based on these four factors, L.W.S. recommends five key locations suitable for developing pet-friendly condominiums:

1. Pathum Wan is a central urban location equipped with amenities, including pet-friendly shopping centers and two veterinary hospitals, and is connected to the green line of the BTS. Additionally, there are no remaining pet-friendly condominium units available, presenting an opportunity for new project development.

2. Klong San is located in Thonburi, not far from the city center, with amenities such as parks and veterinary hospitals. There are currently no pet-friendly condominium projects in this area, making it an opportunity for a new launch.

3. Bang Sue offers pet-friendly facilities, including veterinary hospitals and parks, and serves as a crucial connection point between the blue and red BTS lines. There are also no existing pet-friendly projects in this location.

4. Chaeng Watthana is well-equipped with pet-friendly amenities, including veterinary hospitals, pet shops, parks, and pet-friendly shopping centers like Central Chaeng Watthana. There are currently no condominium projects that accommodate pets, providing an opportunity for new development, especially with the future pink line of the BTS enhancing project value.

5. Chokchai 4 is a popular location among Pet Parents due to its proximity to Central Eastville and Crystal Design Center, which are large pet community hubs that host ongoing activities. Additionally, there are veterinary hospitals, pet shops, and parks nearby. The competition for condominium projects in this area is limited, presenting a development opportunity.

“Developing pet-friendly condominium projects is one way to meet the demands of high-income buyers. Survey results indicate that buyers of pet-friendly condominiums are willing to pay for residences priced over 2 million baht per unit, with amenities that facilitate a shared lifestyle between owners and their pets. This presents an opportunity for real estate developers to create projects that cater to buyers whose lifestyles have evolved,” said Mr. Prabhan Sak.