The 2021 Pet-Inclusive Housing Report by the Michelson Found Animals Foundation surveyed a sample of rental housing owners and renters of residential properties with pets in the United States indicates that the habitat allows pets will be easily rented out.

35% of the sample group were residential tenants and had moved out of the previous rented residence to find a new habitat that is suitable for pets, reflecting that there is still demand for housing from those who raise animals.

This is in line with the megatrend Pet Humanization or caring and giving importance to pets as being a member of the family.

In Thailand, data from Euromonitor indicates that in 2019, approximately 34% of Thai households have dogs and cats, and this will increase to 37% of the total number of Thai households in the country in 2022, reflecting the increasing popularity of Thai people to raise animals.

Part of it comes from animal husbandry activities that help to relax. Amidst the need for home quarantine during the COVID-19 pandemic, Megatrend Pet Humanization is an opportunity for residential developers in Thailand to adjust their strategies to develop residential projects that target specific target groups by developing residential projects that meet the needs of animal husbandry.

Pet Humanization to remain a megatrend in Thailand

SCB EIC views that Pet Humanization will continue to be an important megatrend in Thailand in the future. There are factors that support the trend of the population of Gen Z, Gen Y, and the elderly population who prefer pets as companions to solve loneliness.

Including the trend of smaller families with fewer children or no children which is popular with pets as well. As a result, limitations on the size or nature of housing for raising animals tend to decrease in the future. The strategy for developing low-rise housing may be in the form of offering housing with space for room extension in case the buyer of the residence needs a pet room.

While the strategy for developing condominiums may highlight the selling point of designing rooms with good ventilation for good hygiene for residents and pets.

In addition, using Proptech to facilitate animal husbandry will make a difference and value in the eyes of home buyers especially the automation both light and temperature suitable for pets.

Source : หน้าหลัก | SCBEIC

About the author

EIC or Economic Intelligence Center, a unit of Siam Commercial Bank Public Company Limited, is established to provide business executives with valuable insights for effective decision making.

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