As homes continue to be built in Bangkok a trend has started to become quite clear. New homes are being constructed smaller and smaller to make them more affordable due to land limitations driving the cost of land up.
Smaller is better, or at least more affordable, as land prices and construction costs rise for single houses and townhouses next year, while consumers’ budgets remain unchanged, the Bangkok Post reported.
Soonthorn Sathaporn, managing director of the small developer Chalerm Nakorn Co, told the newspaper, consumer purchasing power cannot catch up with unit price rises due to the soaring cost of development. Just as condos have shrunk, so will single houses and townhouses.
The usable area for a single house next year could be as small as 110 square metres, down from 180 sqm, while that of a townhouse may be 70 sqm, down from 120 sqm, Sathaporn said.
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