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Young Thais prefer condominiums

The youth of Bangkok have a preference for living in condominiums over other types of residential developments, and are willing to dip into their pockets to hand over up to THB2 million per unit, according to a survey by Plus Property Co.

The research revealed that condominiums were in demand for 19-26 year olds, but later in life they hoped to acquire a single house or semi-detached house, reported The Bangkok Post.

It also showed that former demand for single houses and townhouses has now changed to single houses and condominiums.

“People with lower purchasing power tend to buy condos as they want the convenience. However, this culture may solidify to establish real demand in the future,” said Anukul Ratpitaksanti, the company’s deputy managing director.

The survey interviewed 400 respondents aged 19-30 and showed 23.5% want to live in inner Bangkok and western Bangkok, covering Taling Chan, Bangkok Yai, Bang Bua Thong and Thonburi areas. Some 21.5% of respondents would like to live in upper Bangkok in areas including Lat Phrao, Lak Si, Don Muang, Lam Look Ka and areas further north.

The survey also revealed younger respondents just beginning their career require living flexibility and convenience. As well, most inner city residents prefer condos.

Source: Property Report

ThaiVest Editorial Team

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