Figures | Creating Resilience
Bangkok Residential Figures Q2 2023
August 30, 2023 10 Minute Read
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Despite various announcements from publicly-listed developers of their intention to launch new projects in the downtown area this year, in Q2 2023, there was only one downtown project launched. Most developers still favor launching projects in the midtown/suburban area, particularly along the extended mass transit lines, or locations near retail centers and universities that capture demand from both own-stay and buy-to-rent buyers. The starting unit price of no more than THB 3 million is still the most common product type being offered among the newly launched units in Bangkok.
The condominium market in the midtown/suburban areas continued to see more activity than the downtown area, with 20 new launches, declining 6.7% Q-o-Q and 23.0% Y-o-Y.
In Q2 2023, the summary highlights were as follows:
- Newly launched condominium units in Bangkok totaled 12,172 units, a slight decline by 3.8% Q-o-Q, and 20.6% Y-o-Y. Of the total, only 4.5% (542 units) are in the downtown area while 95.5% (11,630 units) are in the midtown/suburban area.
- The majority of newly launched projects were by listed developers, with the top three developers that launched the highest number of units - Origin Property, L.P.N. Development, and AssetWise, respectively.
- There was only one project launched in the downtown area, a High-end project from Areeya Property, a listed developer. The project is located in the Central Lumpini area and offers leasehold ownership for 30 years.
The condominium market in the midtown/suburban areas continued to see more activity than the downtown area, with 20 new launches, declining 6.7% Q-o-Q and 23.0% Y-o-Y.
In Q2 2023, the summary highlights were as follows:
- Newly launched condominium units in Bangkok totaled 12,172 units, a slight decline by 3.8% Q-o-Q, and 20.6% Y-o-Y. Of the total, only 4.5% (542 units) are in the downtown area while 95.5% (11,630 units) are in the midtown/suburban area.
- The majority of newly launched projects were by listed developers, with the top three developers that launched the highest number of units - Origin Property, L.P.N. Development, and AssetWise, respectively.
- There was only one project launched in the downtown area, a High-end project from Areeya Property, a listed developer. The project is located in the Central Lumpini area and offers leasehold ownership for 30 years.