Demand of resale homes to recover in 2nd half, real estate agency predicts
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Bangkok City Smart Co, a residential-property agency, has revised its revenue target for this year to between Bt2.7 billion and Bt2.8 billion from Bt3 billion, but expects demand for resale homes to recover in the second quarter of next year.
“After the flooding ends, the first activity of home-owners is to renovate their residence, then they will start to expand their investment or find a new place to stay,” managing director Pumipat Sinacharoen said yesterday.
However, the revised target is still 7 per cent higher than the agency’s sales of Bt2.6 billion posted last year, he said.
Since last month, people have delayed a decision to buy a resale residence, either a condominium or a low-rise unit such as a detached house, townhouse or duplex.
Demand for condos has grown much higher than that for low-rise residences because the purpose has changed from buying for investment or speculation to buying for a back-up in case of calamities like the flood that hit their home this year.
“Most of those now buying a condo, whether a new one or a resale unit, need to buy a property to be their second home,” Pumipat said.
However, demand for low-rise residences such as detached homes, townhouses and duplexes will continue growing next year especially in locations that are not prone to flooding, he said.
