After falling for three consecutive quarters, the residential price index inched up in the first quarter of 2022, which was seen as a warning of an upward trend in housing prices based on the cost-push effect, according to the Real Estate Information Center (REIC).
REIC acting director-general Vichai Viratkapan said the price index for both new low-rise houses and condos available for sale in Greater Bangkok in the first quarter of 2022 rose to 127.3 and 151.7 from 126.8 and 151.2 in the fourth quarter of 2021, respectively.
"They increased for the first time since the second quarter of 2021," he said. "This possibly suggests that residential prices will be higher because of rising material prices, wages and land prices."
