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Home Construction Prices Rise 3.8% in Q2, Wood Products Lead Increase in Thailand
Bangkok: In the second quarter of 2024, the price index for standard home construction rose by 3.8%, driven primarily by a 6.8% increase in the prices of wood and wooden products, and a 5.5% rise in labour wages. Vichai Viratkapan, acting director-general of the Real Estate Information Center (REIC), noted that while home construction prices continued to rise, the increase was not significant. The price hike in wood products was influenced by operational and transportation costs, limited supply, and high demand from public and private sector projects. The overall price index reached 139.1, marking a 1.2% increase from the first quarter and a 3.8% rise from the same period last year.
Source: Bangkok Post