According to Wichai Weeraktapan, director of the Real Estate Information Center of the State Housing Bank, market trends have changed.
With a glut of townhouses available to the middle class, more developers are turning to semi-detached housing to meet demand from buyers who typically seek detached homes.
In the first quarter of this year, 6,290 city building permits were issued (41.2%), down 10.4% from the first quarter last year. At the same time, 4,992 permits were issued for the construction of private houses (32.7%), which is 17.8% less than in the same period last year, and 3,233 permits for the construction of semi-detached houses (21.2%), up 2.9% from last year, Wichai said.
"The cost of building materials has risen by 5-10%, which has led to an increase in construction costs. However, the increase in cost is difficult to pass on to buyers, as their disposable income has decreased due to rising living costs. In this regard, more developers are turning to construction semi-detached houses as a more affordable option for buyers who are looking for private housing, but at a lower price than for a detached house," Wichai said.
