While more consumers are expressing interest in developments towards the city's fringes, they still prioritise locations in the vicinity of BTS stations for the commuting convenience and relatively predictable commute times.
Most consumers would choose to live around 9 to 10 kilometres or 30 minutes from their office, while the ideal distance from the BTS station would be less than 500 metres. The target price point falls into the Bt2.5-million range but could rise as high as Bt3 million or Bt4 million, while the most popular unit size is between 35 and 40 square metres.
Notably, 75 per cent of the sample group do not own any residential property, and roughly half of the group live in dormitories or apartments. Part of the reason is the fact that most condominium units are priced beyond their budgets, which in turn is an indicator that the majority of condominium owners along these two BTS lines do not rely on the Skytrain system for commuting, and that there remains plenty of unfulfilled demand in this market.
The behaviour and preferences of commuters on the Dark Green and Light Green BTS lines show that demand for condominiums is on the rise. This type of property has plenty of potential to grow outward towards Bangkok's suburban zones along various Skytrain routes, and consumers no longer put distance from their office at the top of their priorities when choosing a place to live, as easy commuting can make them interested in developments in these outer-city zones, Poomipak said.
According to a survey by the Real Estate Information Centre (REIC) of Government Housing Bank, demand to buy land for development of commercial and residential buildings in 10 special economic zones is growing strongly. These SEZs are in Tak (Mae Sot district), Songkhla (Sadao district), Mukdahan, Sa Kaew (Aranyaprathet district), Trat, Nakhon Phanom, Kanchanaburi, Chiang Rai, Nong Khai and Narathiwat.
The survey found that Tak province was popular with both local and foreign investors in residential and commercial buildings, especially for retail business.