Overview
- Real estate developers have been forced to respond to many challenges, including advancing technology, changes in the business environment and changing consumer preferences. It has adapted to evolving limitations such as the rising price of land and new regulations enforcing building codes and requiring that construction does not disturb those living nearby. In addition to these conditions, competition among developers has been intense. Some of the ways in which developers have responded to these challenges are:
- Changes in home design: Previously, developers emphasized stand-alone homes in Bangkok's inner and business districts. Because of the high price of land, developers now emphasize condominiums.
- Changes in commercial real estate projects: Over the last three or four years, there has been an increase in the construction of community malls, essentially small, local department stores including a supermarket and shops.
- In response to increasingly intense competition, developers have adjusted operations to gain competitive edge, for example by shortening construction time through innovative construction techniques.
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