Bangkok, the capital and largest city of Thailand, is a vibrant and dynamic metropolis that attracts millions of visitors and residents every year. However, the city’s housing market has been facing some challenges in recent years, especially due to the COVID-19 pandemic that has disrupted the economy and society. In this post, we will bullet-point the current state and the future outlook of the Bangkok condo market in 2024, based on the latest research and data by Kasikornbank Research Centre.
Here are the main factors that influence the demand and supply of condos in the city and the opportunities and risks for buyers and sellers this year.
This luxury new duplex is available now on Thonglor 12 (or Ekkamai 7) in a popular Park Origin Thonglor condominium in Bangkok CBD
Housing market slowdown
Bangkok and its suburbs are expected to see a 7.8% drop in housing sales in 2024, due to the impact of the pandemic, high household debt, and rising interest rates.
Market recovery next year
The research center forecasts that the housing market will stabilize in 2025 and that property transfers could grow by 1.2%-4.6%, depending on the government’s stimulus measures and policies.
Three key challenges
The property market faces the issues of oversupply, rising costs, and demographic changes, which could affect the demand and supply of housing in the long term.
This affordable townhouse in Thonglor is available for sale now in a secured compound in Bangkok CBD
Summary
The Bangkok condo market is undergoing a slowdown in 2024, as the pandemic and other factors have dampened the demand and sales of housing units. However, the market is expected to recover in 2025, as the economy and the tourism sector bounce back and the government implements supportive policies. The market also faces some long-term challenges, such as oversupply, rising costs, and demographic changes, which require careful planning and innovation from the developers and the buyers.
Reference: nationthailand.com
For a free consultation about condominiums in Bangkok CBD, contact CondoDee Eternal Property
Buying a condo “with tenant” means the property is already rented out when you purchase it. This provides immediate rental income from day one. After the current lease ends, you can renew with the tenant, find a new one, or move in yourself. It’s ideal for investors seeking instant yield without the hassle of sourcing tenants. Explore listings of condos for sale with tenants and buy-to-let investment condos to start earning passive income. Contact CondoDee for a free consultation:
win@condodee.com
·
+66 2 038 5897
· WhatsApp:
+66 62 189 9659
· LINE:
@realty
How can I generate rental income from my condo?
Choose high-demand locations near BTS/MRT, universities, hospitals, or offices. Keep the unit well-furnished and maintained. Decide between short-term or long-term rentals based on your goals. Work with a local agency like CondoDee to market, screen tenants, and handle paperwork. See curated lists: Buy-to-let condos in Bangkok; Condos under 10M THB. Contact:
win@condodee.com
·
+66 2 038 5897
· WhatsApp:
+66 62 189 9659
· LINE:
@realty
Can foreigners buy a condo in Bangkok?
Yes. Foreigners can own units under the foreign freehold quota (up to 49% of a building’s sellable area). Funds must be remitted in foreign currency with proper documentation, and the unit must be within the available foreign quota at purchase. CondoDee helps verify quota, handle documentation, and guide transfers. Contact:
win@condodee.com
·
+66 2 038 5897
· WhatsApp:
+66 62 189 9659
· LINE:
@realty
