Wednesday, August 21, 2019

Suburbia again popular with homebuyers, survey shows

May 10. 2019
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By The Nation

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Suburban residences have made a comeback as the properties of choice for consumers, a recent survey by Plus Property real estate shows.

In a press release on Friday the company said the demand for the low-density yellow zone has grown by some 10 per cent and demand for the medium-density orange zone has grown by 5 per cent. 

In contrast, demand for properties in the brown and red zones has dropped. 

The Minburi-Bang Kapi, Sai Mai-Saphan Mai and Bang Yai-Nonthaburi areas were found to have been the most popular among suburban residence seekers. 

The company also pointed to properties emphasising well-being gaining traction, with investments into this type of properties having reached Bt21 billion.

Suwannee Mahanarongchai, deputy managing director, Business Strategies and Asset Management, Plus Property Co Ltd, said findings from the company's research and development division point to continued expansion of the residential properties market in the suburbs. 

The expansion is attributed to the rapid development of transportation systems lending itself to resurgence in the popularity of owning suburban residence. 

Furthermore, many suburban locales possess a complete array of amenities that answer to the needs of modern buyers; said buyers are looking for a good quality of life, and living in the suburbs allows them to live in an area with less density than at downtown locations. 

Upon scrutiny of people's choices of residence with regard to the type of land zoning, it was found that the average rate of growth of demand for suburban residences outperformed the same rate for inner city residences. 2016-2018 data reveals that demand for the yellow zone (low-density residential zone) expanded by roughly 10 per cent – the greatest demand expansion amongst all the zones. Demand expansion for the orange zone (medium-density residential zone) was the second-highest amongst the zones, growing by 5 per cent. 

Demand for the brown zone (high-density residential zone) decreased by 4.5 per cent, and demand for the red zone (commercial zone) declined by 4.1 per cent. The area that received the highest popularity within Greater Bangkok's yellow zone was the Minburi-Bang Kapi area. This is especially true for the Krungthep Kreetha, Sai Mai-Saphan Mai and Bang Yai-Nonthaburi locales.

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