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REIC expects housing prices to expand by 5-10% in 2023

REIC Vichai Viratkapan

Housing prices are projected to rise by 5-10% this year as the standard home construction price index continued an upward trend, with a year-on-year increase of 5.6% in the fourth quarter of 2022 amid a labour shortage.

Vichai Viratkapan, acting director-general of the Real Estate Information Center (REIC), said the construction price index of standard homes in the fourth quarter of 2022 was 131.9, up 5.6% from the same period of 2021 and down 0.2% from the third quarter of 2022.

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