We look at how inflation, and increases in labour cost, fuel, and materials are starting to push Thailand’s residential property prices up in 2022.From the land of a thousand smiles, things are looking up in the residential real estate market in Thailand. In a recent Property Report in Feb 2022, experts have weighed in to say that the Thai home price market is slated for an increase in 2022.
“In 2022, we expect to see property prices go up by three to five per cent,” Apa Ataboonwongse, chief executive officer at Richy Place told The Nation Thailand. Labour costs have spiked because many migrant workers have returned to their countries, thereby, causing many delays where up to 20 per cent of projects are affected. Even with management costs have reduced over the past year, it would be hard for developers to maintain the same prices.
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