Bangkok Condominium Market Faces Economic Slowdown, Flood Delays, and Shifting Demand

Key summary

The Bangkok condominium market continues to struggle with economic slowdowns, reduced purchasing power among Thai and foreign buyers (particularly Chinese), and flood-related delays. Surachet Kongchep of Cushman & Wakefield Thailand notes that consumers prioritize price, favoring low-rise projects in outer areas over expensive high-rises in the city center. The segment under 10 million THB remains driven by real demand from Thai buyers. Approximately 4,876 units launched in Q3 (double Q2), totaling 14,377 units across three quarters (up 6% year-on-year). Over 65,300 unsold units remain in Bangkok (worth ~370 billion THB), with 25,700 ready for transfer but unsold. Developers focus on projects under 150,000 THB/sqm to attract diverse buyers, while stricter foreign ownership checks and safety concerns have reduced Chinese buyer interest by 13% in 2025. Flood resilience and proximity to MRT stations are emerging as key selection factors.