Asian society is changing significantly as populations age, family units become smaller, living standards rise and urbanization impacts. Family members are becoming more independent and society more mobile.
These changing demographics will have a major impact on future housing requirements. Ever increasing populations will put pressure on finite land costs, leading, in turn, to higher house prices. To maintain affordability, housing density will need to rise meaning building lots will become smaller, and further away from urban/employment centers. Commuting and its impact upon available leisure time will pay a critical role in home buying decisions.
With more households comprise two working adults, smaller housing products, requiring lower and easier maintenance, will increase in demand. Greater diversification of Asian lifestyles will lead to “niche marketing”, and each segment – such as the “Move Up” or “Move Down” family, the “Single”, DINKS” (double income, no kids), the “Active Retiree”, etc., - will demand special consideration in product design, each product tailored to the segment’s specific, and increasingly complex needs. Population aging, for example, will generate strong demand for housing units geared for the elderly. Single-story products for the convenience of retired, yet socially-active couples need not look bland and institutional, but can project an air of glitz and pizzazz that reflects their active lifestyles.
As a whole, market knowledge and understanding of consumer needs and market trends have become even more critical in the proper design of production housing to ensure consumer acceptance and project success.
Single Family Residences
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The Creston Hills Residence
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Pallazzo @ Srinakarin