CBRE Thailand has identified luxury detached houses and condominiums near educational institutions as leading the COVID -19 recovery of the country's residential market following increased buyer enquiry for the property types.

Managing Director Aliwassa Pathnadabutr said sales figures from projects where CBRE had been the marketing and sales consultant indicated the single luxury housing market had been one of the quickest to recover from the initial impact of the pandemic.

"CBRE is currently the sole agent of nine luxury single housing projects in the central Bangkok, midtown area and suburbs of Bangkok with price ranging from 25.9 to 150 Million Baht," she said.

 At a glance: 

• CBRE Thailand has identified luxury detached houses and condominiums near educational institutions as leading the COVID -19 recovery of the country's residential market.
• The firm made the conclusion based on sales data from projects where CBRE had been the marketing and sales consultant.
• In terms of the general condominium market overview, CBRE customer and marketing data revealed that the existing demand from buyers in the pre-pandemic period whose decisions were put on hold is now returning to the market with the buyers awaiting the right price and promotion to make their purchase. 

"The main buyers are locals seeking a new home with more living space and privacy following the ‘New Normal’ way of living after COVID-19, taking the living space as well as the internal and external functions into account.”

Ms Aliwassa said CBRE had also found that the condominium market near educational institutions had experienced a swift recovery, having been less affected by the COVID-19 crisis.

"Condominium projects near universities have a clear target audience because there are real demands," she said.

Source: CBRE

"Apart from own-use purchases or parents purchasing for their university-bound children, this market is a good alternative for investors looking for a low-risk market which is easy to lease.

"In comparison to other condominium markets for investors when it comes to resale, condominiums near universities are more liquid, especially the new projects with modern designs that suit the next generation.

In terms of the general condominium market overview, CBRE customer and marketing data revealed that the existing demand from buyers in the pre-pandemic period whose decisions were put on hold is now returning to the market with the buyers awaiting the right price and promotion to make their purchase.

According to the firm, the majority of the buyers comprising 93 per cent are Thais while the remaining 7 per cent are expatriates who reside in Thailand.

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