The property agency notes that the market for detached houses priced higher than Bt20 million continues to grow even though sales of detached houses as a whole are experiencing a slowdown.

Plus Property’s managing director Anukul Ratpitaksanti, reveals that a 2017 survey of detached houses by the company’s research and development division found that supply for detached houses priced in excess of Bt20 million expanded by 34 per cent while demand grew by 19 per cent

This expansion was in line with data on the ever-increasing number of High Net Worth Individuals (HNWI) in Thailand. Such individuals place importance on the purchase of expensive detached houses situated in locations with a good environment and which offer privacy and ease of commuting.

Such locations are usually in the vicinity of multimodal transportation network development. An example is the northern Bangkok zone, which stretches from the Lat Phrao-Chatuchak area to the Pathum Thani-Lam Luk Ka area.

The zone is home to an expansion stretch (Mo Chit-Saphan Mai- Khu Khot) of the MRT Green Line as well as the SRT Red Line (Bang Sue-Rangsit) and will be one of the areas to benefit from the future linkage of the Airport Rail Link between Don Mueang and Suvarnabhumi airports.