Condominium Market

Bangkok Condominium Overview Q4 2024

• From ABS research study, newly launched condominium supplies in Bangkok totaled 10,823 units in Q4 2024, increasing more than 200 percent over Q3. The increasing supply in the final quarter of 2024 stemmed from the launch of large-unit projects, comprising 49 percent of the newly launched units.

• Demand was weakening in Q4 2024 since the real-demand buyers mostly were low-income people and first jobbers who already possessed high household debts experienced strict bank loans, making it difficult for these people to secure home loans to buy residences. In the meantime, the economic uncertainty also caused medium- and high-income people to be more cautious in spending; therefore, the average absorption rate of newly launched units was only 20 percent in Q4 2024, declining from 25 percent in Q3.   

• The selling price of new condominium units launched in Q4 2024 was averaged at THB153,200 per sq m, decreasing by 77.1 percent compared to THB668,367 per sq m in Q3. The launch of an ultra-luxury condominium project priced at THB1,000,000 per sq m resulted in a high selling price base in Q3, whereas the lack of new high-end condominium projects in Q4 led to a wide gap in selling price on a quarter comparison.  

Source: Ascend Business Service Co., Ltd. (February 2025)