TerraBKK Research has surveyed the condominium market over the past 8 months of this year, revealing that there have been 78 new projects totaling over 44,000 units launched in Bangkok and its vicinity. The area with the highest number of new condominium projects is “Sukhumvit-Chidlom-Thonglor-Ekkamai,” with as many as 6,300 units, followed by “Phetkasem-Bangkae-Phutthamonthon” with 5,560 units, and in third place is “Nonthaburi-Bangyai-Bangbuathong” with 5,120 units.

“March saw the highest number of condominium launches at <\/em>10,000 units”<\/em>

                The survey data indicates that March had the highest launches, totaling 10,776 units or 18 projects, due to large-scale projects like The Politan Aqua, which has over 2,700 units. There was a decline in launches during April, and the trend towards the end of the year suggests that new project launches will start to decrease, influenced by several factors including the sluggish economy and the royal cremation ceremony for King Rama IX in October, leading many developers to delay their launches during this period.

“The Mid-Low Segment accounts for over 50% of the condominium market”<\/em>

                A closer look at the prices of new projects reveals that most newly launched condominiums fall within the Mid-Low price range of 40,000-80,000 Baht per square meter, which is a reasonable price for both real demand and investors. However, it is somewhat concerning as this year seems to be dominated by investors, and we will have to wait and see during the transfer period.

“The Sukhumvit-Chidlom-Thonglor-Ekkamai area has the highest number of new condominiums”<\/em>

When TerraBKK Research analyzed by area, they found that the top three areas with the most launches are:

“Sukhumvit-Chidlom-Thonglor-Ekkamai” has a total of 6,300 new condominium units across 17 projects. This area is a hot spot that includes many prime locations in Bangkok, so it is not surprising that there are the most condominium projects here. Additionally, most projects are located in Mid-Sukhumvit, leading to higher prices, with the majority of supply priced between 100,000-150,000 Baht per square meter.

 

“Phetkasem-Bangkae-Phutthamonthon” has 5,559 new condominium units across 5 projects, benefiting from the ongoing development of the blue line extension of the subway, which has become more concrete this year. We have seen more condominium projects along this subway line, primarily located on Phetkasem Road, which is part of the Thaphra-Bangkae extension, with both small and large developers continuously focusing on this area.

 

“Nonthaburi-Bangyai-Bangbuathong” has 5,121 new condominium units across 4 projects. Although the buzz around the purple line has quieted down, leaving many projects in the market unsold, this year the purple line has officially connected with the subway (Bang Sue Station), allowing some brave developers to continue launching projects in this area. We will have to wait and see if the connection between the purple and blue lines will help clear the stock of condominiums that have been stagnant for over 2-3 years - TERRABKK