Second-Hand Houses Take the Market by Storm: 10 States See a Flood of Listings as Sellers Rush to Cash In
Second-Hand Houses Flood the Market in 10 States
Director of the Real Estate Information Center Reveals Overcrowding in the Second-Hand Housing Market
Mr. Wichai Wiratkaphan, Government Housing Bank Inspector and Acting Director of the Real Estate Information Center (REIC), revealed that the general second-hand housing market in the second quarter of 2024 issued a number of 140,725 units worth 718,436 million baht.
This trend is in line with the current economic situation, leading to an increase in second-hand houses entering the market. The main reasons for this include the ability to pay installments, particularly for affordable housing. Additionally, luxury and mid-sized houses are also being sold due to the lack of tenants in buy-to-let condos.
Top 10 States with the Highest Value of Used Homes for Sale
- Bangkok: 42,377 units were issued for sale, accounting for 30.1 percent, worth 386,191 million baht, accounting for 53.8 percent. Most units were sold at a price level of over 10 million baht.
- Nonthaburi: 10,895 units were published for sale, accounting for 7.7 percent, worth 48,382 million baht, accounting for 6.7 percent. Most units were sold in the price range of 3.01 – 5 million baht.
- Chonburi: 9,229 units were published for sale, accounting for 6.6 percent, worth 43,925 million baht, accounting for 6.1 percent. Most units were sold in the price range of 3.01 - 5 million baht.
- Samut Prakan: 9,613 units were published for sale, accounting for 6.8 percent, worth 43,030 million baht, accounting for 6.0 percent. Most units were sold in the price range of 3.01 – 5 million baht.
- Pathum Thani: 10,250 units were published for sale, accounting for 7.3 percent, worth 28,169 million baht, accounting for 3.9 percent. Most units were sold in the price range of 2.01 – 3 million baht.
- Chiang Mai: 4,508 units were announced for sale, accounting for 3.2 percent, worth 23,303 million baht, accounting for 3.2 percent. Most units were sold in the price range of 5.01 – 7.50 million baht.
- Phuket: 1,818 units were issued for sale, accounting for 1.3 percent, worth 15,006 million baht, accounting for 2.1 percent. Most units were sold in the price range of 7.51 – 10 million baht.
- Nakhon Ratchasima: 2,745 units were announced for sale, accounting for 2.0 percent, worth 9,436 million baht, accounting for 1.3 percent. Most units were sold in the price range of 3.01 – 5 million baht.
- Rayong: 4,062 units were published for sale, accounting for 2.9 percent, worth 8,081 million baht, accounting for 1.1 percent. Most units were sold in the price range of 1.51 – 2 million baht.
- Nakhon Pathom: 2,296 units were announced for sale, accounting for 1.6 percent, worth 7,700 million baht, accounting for 1.1 percent. Most units were sold at a price level of 3.4 million baht.
Source: Matichon Online