Affordable condominium for middle-income people in an inner Bangkok during an overgrowth real-estate and residence price situation

The objective of this research was to find out how an overgrowth real estate and residence price inside of Bangkok will effect middle-income people who want to live inside of Bangkok in the future, as well as how to make condominium inside of Bangkok area be accessible through both condominium design and policies. This research has used qualitative methods by analyzing secondary data and conducting expert interviews at real estate firms as part of qualitative research. The findings indicated that while middle-class wages did not rise together with the rapidly rising real estate prices in the Bangkok area, middle-class wages did. This created a problem whereby middle-class individuals would eventually be unable to afford condominiums in the Bangkok area. Also, the inability of developers to turn a profit on these kinds of projects discourages them from investing, which makes it more difficult for middle-class individuals to find affordable condominiums in the Bangkok area. Based on research, the Wang Thonglang and Bang Kapi district are the best places for middle-class residents to live because of their affordable land prices and abundance of accessible areas. These areas are therefore ideal for the development of middle-income condominiums. The most appropriate design room for a middle class condominium, according to an expert in the real estate industry, is 30 square meters, with a bedroom and living room ratio of 60% (18 square meters), a bathroom at 20% (6 square meters), a kitchen room at 10% (3 square meters), and a balcony at 10% (3 square meters). These units range in price from 1,700,000 to 2,500,000 Thai Baht per unit, and the minimum condominium amenities include a co-working space, a swimming pool, parking, a laundry room, green space, and a security system. Furthermore, through a series of support policies, this research has examined ways to facilitate middle-class individuals' access to condominiums in the Bangkok region and to assist developers in offering more affordable condominiums. The findings demonstrated that the collection of supportive policies that can be employed included the housing loan policy, tax reduction, FAR bonus, and construction material cost reduction.