Century Poll on residential demand in Bangkok

Friday, 06 April 2012 From Issue Vol. XX No. 14 By  NNT

Century 21 Affiliates Thailand, in collaboration with Thammasat University’s Faculty of Architecture and Planning (APTU), is launching Thailand’s first property poll, under the theme ‘Residential Demand after the Flood’. 

The poll is aimed at exploring how Thailand’s historical flood affected new homebuyers and at informing the general public, property developers, and the government sectors of the aftermath of the flood crisis on the local property market.

Thailand’s first property poll focuses on the aftermath of last year’s ‘Great Flood.’Thailand’s first property poll focuses on the aftermath of last year’s ‘Great Flood.’

According to the poll, 63% of the respondents stated the flooding did not affect their criteria for new homes, while 34% said flooding became a decision-making factor to consider when buying a house.

When asked about their expectation of the government’s post-flood assistance, over 51.20% of the respondents said the government needed to devise a long-term flood prevention measure.  48.30% said commercial banks should issue lower interest rates for mortgage loans.  33.8% said property tax rates and fees should be lowered following the flood.  The government’s effectiveness in implementing supporting measures to prevent future floods is seen as a key concern for most of the respondents.

According to Chana Nanthachantule, Managing Director of Century 21 (Thailand), the public opinion poll reflected a variety of issues stemming from the flood crisis, including how the flooding affected new homebuyers’ criteria for property.

He said the company is planning to submit the data to related public agencies and hoped this data will raise awareness concerning the public’s altered perception of the Thai property market.

When asked if the government’s future flood policy would be affected by the release of the poll, he said he hoped relevant governing bodies would keep this data in mind when planning and implementing changes in the city’s infrastructure and the flood protection system.

Century Poll asked 1,214 male and female residents from 3 provinces, namely Bangkok, Nonthaburi and Pathum Thani, whether last year’s floods were factored into their decisions when purchasing future property and what post-crisis measures are needed from public sectors.

Century 21 and APTU will join hands in launching new property polls on a monthly basis.

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