Demand rises for old units with two bedrooms
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Demand for second-hand two-bedroom units increased in the first nine months to 25 per cent of the market, up from 22 per cent last year, according to a survey by property management firm Plus Property Co, a subsidiary of Sansiri.
The company’s managing director Poomipak Julmanichoti said most property firms were developing one-bedroom units of ever-smaller sizes this year, which are more affordable for middle-class buyers. Investment in one-bedroom units is also on the rise because of the ease of finding new tenants, especially as expatriates are spending significantly less on residential rentals than before the 1997 financial crisis.
However, demand for two-bedroom units is also rising. Many consumers who invested in one-bedroom units five to 10 years ago now have extended families, and hence require more space. Demand for larger units can be expected to increase throughout the next five years, as new developments are still focused on studio and one-bedroom units.
