26/3/2568

Banks under pressure as condos lead sales at housing expo with 12 billion baht in purchases

Credit Information and Image from Thansettakij (https://www.thansettakij.com/real-estate/623098)

Housing Association hopes banks ease lending rules as condo sales top 12 billion baht at expo — but over 40% of loans were rejected at the year-end 2024 event, cutting 6 billion in sales down to just over 3 billion.

Amid economic storms and surrounding risk factors, Thailand’s real estate market has been facing a significant slowdown. Weakened purchasing power has reduced demand, while financial institutions have tightened mortgage lending. This situation has forced developers to bring unsold inventory back to the market, turning it into additional costs.
With no urgent government stimulus to rescue the sector, developers have had to rely on themselves — launching aggressive marketing campaigns, offering deep discounts and promotions to attract buyers and boost sales.
One event to watch closely is the 47th Housing and Condo Expo, jointly organized by three leading associations: the Housing Business Association, the Thai Condominium Association, and the Thai Real Estate Association. Together, they launched the "Thailand’s Number One Real Estate Expo," which recently reported over 12 billion baht in total sales.
The event also saw a surge in mortgage applications, reflecting strong housing demand and reinforcing the potential and resilience of Thailand’s property market — which continues to show signs of growth despite mounting economic pressures.

Housing Association President Hopes for Bank Loan Approvals

Mr. Suntorn Sataporn, President of the Housing Business Association, told Thansettakij that the residential property market continues to shrink, and government stimulus measures have yet to be implemented during the Housing and Condo Expo. The three organizing associations had submitted urgent policy proposals to the government — including a reduction in transfer and mortgage registration fees and a relaxation of the loan-to-value (LTV) ratio — with the hope that they would be enacted within the first quarter or in time for the expo.
These measures were especially critical for major real estate companies needing to report their Q1 financial results to the stock exchange. Unfortunately, the policies were not issued in time.
As a workaround, developers participating in the event offered their own incentives. Most projects covered the transfer fee, while buyers were responsible for the mortgage registration fee — although some developers absorbed the full cost depending on their sales strategy.
This year, total sales exceeded expectations, reaching over 12 billion baht in just four days (March 20–23, 2025), nearly double the sales from the 46th Housing and Condo Expo held late last year, which recorded around 6 billion baht in transactions. However, more than 40% of those sales were denied financing, resulting in only about 3 billion baht in finalized purchases.
This time, developers are once again closely watching how many mortgage applications will be approved, even though financial institutions were present at the event to provide guidance.

Dr. Donpiwat Preedavipart, Deputy Secretary-General of the Housing Business Association and Chairman of the Expo Organizing Committee, shared his perspective:
“This year’s Housing and Condo Expo broke all records. Visitor turnout exceeded expectations, and the market was far more active than anticipated.”
He noted that over 10,000 people pre-registered before the event even began, matching the numbers seen at the year-end expo last year.
Throughout the four-day event, visitor numbers increased by 30%, clearly reflecting strong underlying demand for housing, despite the current economic challenges.

Condos Remain Top Choice, While Single Houses and Townhomes Gain Momentum

At the 47th Housing and Condo Expo, condominiums remained the most popular property type, accounting for 60% of total sales. Coming in second were single detached houses (25%), followed by townhomes (10%), with the remaining 5% made up of semi-detached houses, commercial buildings, and other property types.
This reflects a continuing trend among homebuyers prioritizing convenient locations and lifestyles that suit the new generation.

Buyer Behavior Reveals Trends in the New Era of Real Estate

Visitor data from the expo revealed strong housing demand across all age groups.
The 30–45 age group accounted for the largest share at 40%, followed by those aged 25–30 (30%), 45–50 (20%), and those aged 50 and above (5–10%).
This distribution shows continued growth in demand for both houses and condos across all demographics.

Key Success Factors Driving Bookings Beyond Expectations

The success of the 47th Housing and Condo Expo wasn’t driven by market demand alone.
It was also supported by factors such as LTV (Loan-to-Value) measures, government stimulus policies, and exclusive promotions offered by developers participating in the event.
These combined efforts helped drive booking values past 12 billion baht, with contributions from large, medium, and small developers showcasing their projects.
It is expected that post-event sales and transfers will more than double this amount in the following weeks.
According to Dr. Donpiwat, the event was more than just a housing fair — it served as a vital platform for helping Thai people own their dream homes and acted as a powerful driving force for the continued growth and stability of Thailand’s real estate market.

Real Estate Outlook for Late 2025: Opportunities and Challenges Ahead

Looking ahead to the end of 2025, the Thai real estate market still faces several challenges — including rising construction costs, fluctuating interest rates, and changing consumer preferences that increasingly favor eco-friendly projects.
Developers will need to adapt and create standout selling points to meet the demands of a rapidly evolving market.
The upcoming 48th Housing and Condo Expo is scheduled to take place from Thursday, October 30 to Sunday, November 2, 2025, at Hall 5, LG Floor, Queen Sirikit National Convention Center.
The event will be organized under the leadership of the Thai Condominium Association, which will serve as the chair of the organizing committee.
With expected policy support — including transfer and mortgage fee reductions and relaxed LTV conditions — the event is anticipated to be even more vibrant and successful.

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