This article on the low-rise housing market in Thailand appears in the Dot Property Thailand Real Estate Outlook 2021. You can read the report right here!
The low-rise housing sector proved to be resilient in 2020. Several Thai developers have taken notice of this shift and are moving away from the condominium market. Here is a look at how some leading homebuilders are planning to tap into the low-rise housing market boom this year.
Frasers Property Thailand
Frasers Property Thailand, formerly known as Golden Land, announced that it will launch at least 27 new residential projects worth THB35 billion in 2021. Of this total, 21 will be focused on low-rise housing with all but three being located in Bangkok. Specific details have not been confirmed, but the homebuilder did mention it would launch two luxury, single detached housing projects in inner-city locations last year. Vibhavadi Rangsit, Rama IX and Sathu Pradit were mentioned as possible locations at the time.
Habitat Group has pivoted away from condominiums and shifted its focus on low-rise housing. It plans to launch three low-rise housing projects next year on land plots in the Asoke and Phrom Phong areas. These plots were originally slated for condo developments, but Habitat Group decided to switch things up as part of a larger change in strategy.
Sansiri Chief Operating Officer Uthai Uthaisangsuk revealed that the developer will launch 19 low-rise housing projects worth a combined THB 21.9 billion in 2021. The homebuilder has plans to introduce nine townhome projects, seven single detached-housing projects and three projects with multiple housing types.
Supalai is expected to launch at least 30 developments this year with the majority of these being low-rise projects. Supalai Chairman and Chief Executive Prateep Tangmatitham told the Bangkok Post that it plans to launch no more than five condominiums with the rest of its new projects expected to be low-rise housing. The homebuilder unveiled plans to launch projects in several provinces, including Chachoengsao, Phetchaburi, Prachuap Khiri Khan and Lamphun, for the first time in 2021.