Second-hand houses, a choice of houses near the city

Pre-owned Homes: An Option for Homebuyers Near the City

The current housing market is saturated with new housing and condo projects. Fortunately, homeowners have a wide variety of options. However, one undeniable fact is that new housing projects are often quite expensive, and often, the homes they find are not in the right locations.

For this reason, pre-owned homes are another option not to be overlooked. Not only are they more affordable, but they also offer easier access to the right location. The pre-owned housing market is experiencing significant growth. In the second quarter of 2022, there were an average of 162,716 pre-owned homes listed for sale per month, with an average monthly value of 995.488 billion baht. Both the number of units and the value increased by 17.9% and 6.1% (YoY), respectively.

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What kind of pre-owned home do you want?

Available to choose from.

Single-family homes, duplexes, townhouses, and condos.

Many people may think that buying a pre-owned home presents a limited selection of options that won't meet their needs. However, the reality is quite the opposite. Because the resale home market is ready to meet all your housing needs, offering a complete range of home styles. In the second quarter of 2022, the number one residential property type with the most listings for sale was detached houses, with 64,392 units, a 16.6% increase (QoQ). Condominiums came in second with 49,250 units, a 21.1% increase (QoQ). Townhouses came in third with 42,626 units, a 17.1% increase (QoQ).

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Want affordable housing?

Resale homes are the answer.

Affordable.

Many people don't believe that resale homes are cheaper than new homes, or even if they are, they're not significantly cheaper. Since you're investing in a home, it's better to just buy a new one. This may not be entirely accurate, as in reality, we may not have adequately researched the resale market for housing prices. According to a survey of pre-owned homes by price in Q2 2022, the highest average monthly increase in pre-owned homes listed for sale by price range was found. Pre-owned homes priced under 1.00 million baht saw the highest number of listings per month, with a 56.1% increase (QoQ). Second place was for pre-owned homes priced between 1.01 and 1.50 million baht, with a 17.7% increase (QoQ). Third place was for pre-owned homes priced between 1.51 and 2.00 million baht, with a 14.3% increase (QoQ). This reflects that if you're looking for a home priced between 1 million and 2 million baht, there are a wide range of pre-owned homes available.

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Need a home close to the city?

Pre-owned homes are an option

where you don't have to compete with others.

One of the biggest challenges for homebuyers is finding the right price and location. Buying a new home is extremely difficult. If you don't find a home in the right location but the price is too high, you'll find it difficult. You might end up with a truly affordable home, but the location is too far from the city. This problem is unlikely to occur when purchasing a second-hand home, as Bangkok's second-hand housing market is currently experiencing the highest growth. In the second quarter of 2022, Bangkok was the province with the highest number of second-hand housing listings, accounting for 35.6% of all units listed for sale, with a total of 62,783 listings, representing a value of 62.2% of the total value.

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Thank you for the great information from REIC.