In the wake of the recent earthquake that rattled Bangkok, a significant shift in housing preferences is emerging among city dwellers. As fears about high-rise living grow, many are turning their attention to ground-level homes, marking a notable trend in the real estate market.
On March 28, 2025, a tremor measuring 5.2 on the Richter scale struck the capital, causing residents to reconsider their living arrangements. Although there were no major damages reported, the quake raised questions about the safety of condominium living, a staple in Thailand's real estate sector for years. In response, major developers are now pivoting towards low-rise housing options, reflecting a growing demand for stability and comfort.
Peerapong Jaroon-Ek, Chief Executive Officer of Origin Property Public Company Limited, acknowledged the need for flexibility in business strategies in light of the earthquake. He emphasized that developers must understand consumer sentiments deeply and provide reassurance about living conditions. "The market for condominiums must adapt to the new reality where buyers are seeking more grounded options that offer both physical and psychological security," he stated.
Origin Property is not just waiting for the condominium market to rebound; instead, they are expanding their portfolio to include low-rise developments that cater to the evolving needs of consumers. This strategic shift aims to provide homes that resonate with the current demand for more secure living environments.
Similarly, Sansiri, a leading player in the Thai real estate market, is positioning itself as a pioneer in sustainable living. The company recently launched the Sansiri Sustainable Home – Prototype 1, which integrates green concepts with advanced technology. Located at Setthasiri Ratchaphruek, this prototype home is designed to promote not just housing but a sustainable lifestyle.
"We are committed to creating quality living that goes beyond merely having a roof over one's head," said a spokesperson from Sansiri. This initiative reflects a broader trend where buyers are increasingly valuing the quality of life that their homes provide.
As the demand for low-rise homes rises, developers are also focusing on creating spaces that accommodate families and cater to various lifestyles. Lalil Property has launched the LanciO Prestige Bangna-Sriwaree project, which emphasizes flexible home functions, such as adaptable rooms that can serve as home offices or accommodate elderly family members. Priced from 3.99 million baht, these homes are designed with environmental considerations in mind, featuring energy-efficient materials and EV charging stations.
The concept of living with pets is also gaining traction among potential homeowners. A recent survey conducted by LWS revealed that 75% of respondents expressed interest in purchasing condominiums that allow pets, with a price range of 3-5 million baht per unit. This growing trend reflects a cultural shift where pets are increasingly seen as family members rather than mere companions.
According to Prabandh Sakdikorn, CEO of LWS, the survey involved 183 participants, predominantly aged between 29 and 44 years. He noted that 58% of respondents were female, while 35% were male, and 7% identified as LGBTQ+. The survey findings indicated that 67% of those interested in pet-friendly housing were single individuals, highlighting a demographic shift towards pet ownership among younger generations.
"The pet ownership trend is transforming the housing market, as more people look for residences that accommodate their furry friends," Sakdikorn explained. This shift is further supported by data from the Faculty of Architecture at Mahidol University, which found that 49% of respondents in a larger survey viewed pet-friendly options as a significant benefit.
The pet care market in Thailand is projected to reach 75 billion baht in 2024, reflecting a 12.4% increase from the previous year. This growth is fueled by pet owners' willingness to invest in their pets, with average annual spending estimated at 41,100 baht per pet, significantly higher than the 7,745 baht for less engaged pet ownership.
As developers adapt to these changing demands, they are also recognizing the importance of strategic locations for their projects. Key factors include proximity to public transport, pet-friendly amenities, and access to essential services such as veterinary clinics and pet grooming facilities. These considerations are crucial in creating a holistic living experience for pet owners.
In addition to meeting the needs of pet owners, developers are also addressing the desires of families seeking larger living spaces. The market for ground-level homes is expanding, with a focus on creating functional spaces that cater to the diverse needs of residents. This includes designing homes with multi-functional rooms and outdoor spaces that promote a healthy lifestyle.
As the real estate landscape evolves in response to consumer preferences, the shift towards low-rise housing is becoming a mainstream trend rather than a temporary solution. Developers are now tasked with not only constructing homes but also fostering communities that prioritize safety, sustainability, and quality of life.
In conclusion, the recent earthquake has acted as a catalyst for change in the Thai real estate market, prompting a reevaluation of living preferences. As consumers increasingly prioritize security and comfort, the demand for low-rise homes and pet-friendly options is set to shape the future of housing in Thailand.
