Three LGBTQIAN+ trends driving property market revealed

DDproperty said that customers in this growing demographic could shape the future of Thailand’s property market, especially since a bill endorsing same-sex marriage is now in the parliamentary pipeline.

Pet-friendly homes

The first trend among LGBTQIAN+ buyers is pet-friendly houses and condominiums, as more people are staying single longer or deciding against having kids after marriage. The website cited a 2023 survey by Mahidol University on pets in Thailand. It found that 49% of respondents keep pets as a substitute for children, identify themselves as “pet parents”, and spend around 14,200 baht per year on each of their pets.

“The LGBTQIAN+ group has a high tendency of keeping pets as friends or ‘children’, and they will be looking for accommodation that facilitates their lifestyle as pet owners,” said DDproperty. “Features and facilities such as scratch-proof furniture, soundproof walls, anti-germ air purifiers, areas for pet exercising or swimming, as well as convenient access to veterinary clinics will be top of their lists.”

Healthy lifestyle

The second LGBTQIAN+ property trend is driven by their demand for physical training and healthcare, said the property firm, adding that people in this group are often body-conscious and spend time exercising.

Facilities that cater to these needs include outdoor exercise areas, running or cycling tracks, swimming pools, and fully equipped gyms or fitness centres, DDproperty said. Pools with hydrotherapy features are gaining popularity among health-conscious customers thanks to the lower chance of injuries compared with traditional exercise, it added.

Besides exercise facilities, LGBTQIAN+ buyers are keen on property with green space in which to relax, engage in outdoor activities, and reduce work stress, the firm said.

Property for investment

The third trend is property for investment, which is emerging among LGBTQIAN+ couples who have a dual income and no kids, aka the DINK group.

With their high savings, the DINK group are often looking for investment opportunities, DDproperty said.

“Property is one of the attractive investment choices both in the long and short term, thanks to low fluctuations, high returns and constant demand in the market.”

This property investment can take various forms, from reserving condominium slots, renting property on a monthly or annual basis, or buying and renovating an old house or condo and selling it for profit.

DDproperty expects the LGBTQIAN+ community to become an even bigger player in the property market once the marriage-equality bill is enacted.

The bill, which passed its first reading in June last year, will legalise marriage for same-sex couples, meaning their property and other assets can be passed on to the spouse in case of death, without having to pay estate tax.