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Bangkok Condo Research
Bangkok Condo Research: Data Source
This is an extract of the Bangkok Property Report, a quarterly subscription report. The report brings professional analysis and transparency to the Bangkok property market which can, for the right projects, generate some of the highest returns in Thailand. Full Bangkok Property Report
The report provides detailed information and analysis from CB Richard Ellis' comprehensive and unrivaled Bangkok and Thailand property databases, combined with our own exhaustive market and property surveys, coupled with the latest and most reliable secondary data from governmental agencies and private operators. The reliability and value of the research is the market understanding and expert opinion drawn from over 20 years of CB Richard Ellis' full-scale operations in Thailand.
The data in this page focuses specifically on the Bangkok condo market.
Bangkok Condo classifications
We classify Bangkok Condo units into six categories based on price/m2. Classifications are based on the maximum number of condos in a project that fall into a category.
Super Luxury
Above THB 180,000/m2
Upper-mid-range
THB 80,000-THB 99,999/m2
Luxury
THB 130,000-THB179,999/m2
Mid-range
THB 60,000-79,000/m2
High End
THB 100,000-129,999/m2
Entry-level
Below THB 60,000/m2
Condominiums that are high end or above generally demonstrate common characteristics such as:
Easily accessible locations
Good and secure neighborhoods, ensuring privacy of residents
Good building design, layout and decoration
Good standard of construction using high-quality materials and specifications
Comprehensive range of facilities, including swimming pool, gym and/or squash and tennis courts, etc.
Adequate elevators and efficient M&E system
Professional management
Sufficient car parking
Bangkok Condo Areas: Definition
Silom/Sathon
The area incorporating Silom, Sathon, Surawong, and Narathiwas-Ratchanakarin (north of Chan Road) Roads, as well as the sois in between
Central Lumpini
The area incorporating Wireless, Ploenchit, Rajadamri, Chidlom, Langsuan, Sarasin and Ruamrudee Roads, and other sois in between
Sukhumvit
The area incorporating Sukhumvit Road from Soi 1-65 and Soi 2-44, as well as other sois in between
Pathumwan
The area incorporating Ratchaprarop, Phayathai, Sri Ayutthaya and Petchaburi (from Soi 1-37) Roads, as well as other sois in between
Rama III
the area incorporating Narathiwas-Ratchanakarin Roads (south of Chan Road), Charoenkrung and Rama III on the side not adjacent to the river, as well as interlinking sois
Riverside
Includes developments on the riverside incorporating Charoenkrung,
Charoennakorn and Rama III
Peripheral areas
All other areas of Bangkok lying outside the CBD, including Ratchadapisek,
Ladphrao, Ramkhamhaeng, Paholyothin, Thonburi and Sukhumvit Road from Soi 44-76 and 65-115
Bangkok Condo - Quaterly Highlights
In Q3 2011, the total supply in downtown and midtown areas reached approximately 298,240 units. Of this, 90,243 units or 30% are located in the downtown area, while 207,997 units or 70% are located in the midtown area.
The existing supply in downtown Bangkok reached 90,243 units, up from 89,024 units. This represented an increase of 1.4% Q-o-Q and 6.0% Y-o-Y. There were 1,219 units completed in this quarter.
Seven projects were launched in Q3 2011 in the downtown area. The number of newly launched units decreased from 5,888 units in the previous quarter to 1,254 units in this quarter. Ninety-two percent of the units in newly launched projects were one-bedroom and two-bedroom units, followed by studio units at 6%. The one-bedroom size, ranging from 35-64 sq.m. accounted for 582 units.
The number of newly launched units in midtown areas decreased from 6,953 units in Q2 2011 to 5,092 units in Q3 2011. A total of 61% or 3,125 units in this quarter are located in the Northern area.
The overall occupancy rate for downtown declined to 71.4% in Q3 2011 compared to the previous quarter.
The average asking price for off-plan condominium units (high-end and above) in downtown Bangkok was 145,886 THB/sq.m., a decline of 7.2% Y-o-Y. This can be attributed to new project launches with prices aimed at the lower end of the market. However, many projects that were launched earlier have adjusted prices upward in accordance with the construction progress.
The average achieved re-sale price of units in completed upscale buildings and above increased by 5.2% Y-o-Y from THB 122,555 per sq.m. in Q3 2010 to 128,907 THB per sq.m in Q3 2011. Central Lumpini continues to be the area with the highest average achieved re-sale price level (145,000 THB per sq.m.).
Bangkok Condo Supply
The largest portion of supply in downtown is in the Sukhumvit area. This is because Sukhumvit area has been the main area for residential market where expatriate communities are located. Moreover, the area also supported by mass transit system and retail facilities which drawn developers interest. Sukhumvit accounts for 30% of downtown supply, followed by Silom/Sathorn (17%), Riverside (16%), Rama III (14%), Pathumwan (11%), Central Lumpini (6%), and Outer Sukhumvit (6%).
Bangkok Overall MarketView Q3 2011
Apartment - Highlights: • In Q3 2011, there was a slight increase in total supply. The total number of apartment units increased 1.0% ... More
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The largest portion of supply in downtown is in the Sukhumvit area. This is because Sukhumvit area has been the main area for residential market where expatriate communities are located. Moreover, the area also supported by mass transit system and retail facilities which drawn developers interest. Sukhumvit accounts for 30% of downtown supply, followed by Silom/Sathorn (17%), Riverside (16%), Rama III (14%), Pathumwan (11%), Central Lumpini (6%), and Outer Sukhumvit (6%).
