According to property developer Sena Development, more than half of Bangkokians find it difficult to purchase a house as their monthly salary is less than 30,000 baht (883 USD), while property prices have continued to rise.
The company’s managing director, Kessara Thanyalakpark, says that rising household debt was among the factors that hurt Bangkokians’ ability to purchase houses.
“Currently, there is a disconnect between the demand for housing and the high prices set by property developers.”
According to Kessara, more than 50% of Bangkokians were only able to afford houses priced lower than 3 million baht, but most of the housing projects in Bangkok were priced at over 3 million baht.
Travel expenses have also impacted people’s decision to purchase a house. Bangkokians earning less than 30,000 baht spent 16% – roughly 5,000 baht – on travel, Kessara says.
Source: The Nation Thailand
