Rental apartment demand hikes

Mr Tanawit says Horga will accelerate revenue growth this year by expanding into new business areas, including wholesale markets and budget hotels.

Economic constraints have lifted demand for rental apartments, which are more affordable than condos, driving up average rents as supply remains limited due to fewer new projects, says Horga, a real estate solutions provider.

Tanawit Tonekunya, Horga founder and chief executive, said the rental apartment segment is typically less affected by economic conditions than other housing segments. Rental apartments are smaller and offer fewer facilities.