Evolution of housing development


The World War II caused many houses destroyed. There was a shortage of housing after the war. Therefore, the government had assigned Public Administration Department to launch the first social housing project which was the wooden shophouse project for rent located in Rang Nam Road.


In this era, the large numbers of population migrated from rural to urban areas for employment opportunity causing the problems of residential density and run-down neighbourhoods. The government resolved by tackling the housing shortage among the middle-income earners by establishing Government Housing Bank (GHB), the organisation who initiated the first housing projects for lease such as Pibulwes, Pibulwattana, and Toong Mahamek to the public.


After the government had strictly committed on the First National Economic and Social Development Plan, the economics rapidly expanded which attracting many people migrated to Bangkok. The government created many flat projects such as Din Daeng Flat and Huai Khwang Flat. Private companies invested in housing estate projects, which Mittraphap Village located in On Nut area was the first housing estate project.


National Housing Authority was established in 1973 as the government called off the policy of slums demolition and committed to the policy of improving and constructing new and affordable housing for citizens, as well as urban planning.


During the economic downturn in 1977, the lack of funding impacted on the government’s residential construction plan for low-income Thais, the government can only support on the specific construction and utility. The establishment of Condominium Act B.E. 2522 triggered the high-rise residential building boom as well as the explosion of housing estate projects, which later caused the highly competitive housing market that marketed their living facilities in projects.


The overall world’s and Thailand’s economies grew rapidly. The real estate market grew by leaps and bounds resulting Thailand's economy fully developed into an economic bubble. The residential projects were ready-to-move-in and completely facilitated. The government had also encouraged private sector to partake in building affordable house projects for low-income earners by supporting the exceptional BOI-approved investment.


During Tom Yum Goong Crisis in 1997, Thai government floated the baht which precipitating the economic recession. Many businesses closed especially real estate sector which later up for auction. At the end of this era, BTS Sky Train began operation of Bangkok's inaugural rapid transit caused the condominium development boom along the rail line.


After the economic crisis, private sector expanded the horizontal residential housing production to Bangkok’s Metropolitan Region market, while the public sector supported the urban low-income Thais to acquire own resident by the development of almost 10,000 units of Ua Athorn and Baan Mankong housing projects.


Thailand is entering an aging society; the idea of housing for the aging population as well as the idea for all generation have emerged. As technology taking over our daily lives, the government has backed the digital society as well as the urban development has welcomed the development of smart home technology that facilitate everyone’s lifestyle.