Research
Foreign Ownership of Condominium units - Bangkok (September 2024)
The report explores key insights into Thailand's condominium market for foreign buyers from 2019 to 2024. In 2023, 14,044 units were sold to foreigners, marking a 9.7% increase over 2019. The total transaction value surged to 73.2 billion baht, compared to 50.6 billion baht in 2019.
Notably, 50% of foreign purchases in 2024 involved second-hand properties, highlighting a shift in buyer preferences. For a comprehensive analysis of pricing trends, nationalities of buyers, and market dynamics, download the full report.
Supply of new condos - Bangkok (2022-2024)
From January to July 2024, 204 new projects were launched in Bangkok, totaling 35,100 units with a value of 221.865 billion baht, marking a 35% decrease in units and a 12% decrease in value compared to 2023. In the condominium sector, 13,868 units were launched, down 49% from 2023, while the average price per unit rose by 41% to 3.92 million baht.
For properties under 10 million baht, there was a 26% decrease in units, while luxury projects over 10 million baht saw a 20% increase in units launched. The market’s absorption rate remains stable, despite economic challenges including high interest rates and tighter financial conditions.
For detailed insights and data, download the full report