A housing demand model: a case study of the Bangkok Metropolitan Region, Thailand

TL;DRAbstract

Housing -as a special product- distinguishes the behaviour of its demand and supply. An imbalance of housing supply against demand can be a crucial part of economic crises, as happened in Thailand between 1996 and 1997. Can the housing market be controlled in a robust and rigid system? A secure market depends on balancing demand and supply dynamics; therefore, any demand has to be quantified.<br><br>This research demonstrates how housing demand can be modelled by using a System Dynamics approach. This modelling concept has been set up, using the root causes which generate housing demand. Causal factors which influence housing demand are collated, and mapped. A model simulating housing demand was developed. Keys to this are demographic, social and economic factors. This model is presented with a view to pursuing new approaches for housing demand modelling. Conceptual ideas are developed on how to quantify housing demand, and the result of the simulation can then be used as a basis for p

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