The Bangkok condo boom has been derailed by the ongoing COVID-19 pandemic and its impact is expected to be felt once again in 2021. Colliers International Thailand estimates that only 20,000 units hit the market this year, the lowest total in 15 years, as developers curb new Bangkok condo launches. This total is slightly less than 2020 when 21,643 units were launched in the Thai capital, according to Colliers International Thailand. That is a far cry from the more than 66,000 units to come onto the market in 2017 or the nearly 45,00 launched the following year. While there had been some hope of new Bangkok condo launches recovering in 2021, Colliers International Thailand Associate Director of Research and Communications Phattarachai Taweewong told the Bangkok Post that the new lockdown order likely extinguished that hope with many developers expected to delay condo projects once again. "Some developers may consider delaying new condo launches again as they are uneasy about feedback from buyers amid with the contagion," Khun Phattarachai told the newspaper. "Low-rise houses will remain the rising star.” Related: Developers go low in Bangkok to avoid condo glut With new Bangkok condo launches sputtering, many homebuilders turned their attention to the low-rise housing sector and found success in the process. For example, more than 60 percent of Sansiri’s total sales last year came from low-rise housing. Meanwhile, SC Asset recorded revenue growth of 18 percent and profit growth of 26 percent during the first six months of 2020 due in large part to a 116 percent rise in housing sales. Many of the firm’s housing projects saw record-setting presales with many selling out completely. There will be some new Bangkok condo launches in 2021, but developers are being cautious in regard to location. A few new projects in and around Thong Lor are slated to be launched since demand here remains strong and supply limited. Additionally, a few developers are lining launches around the under-construction mass transit lines in suburban Bangkok.

What is influencing Bangkok’s moving market?

Bangkok's new projects are being built out of the Central Bangkok. The desire for brand new condominiums in Asia is strong. This is a long...
Thailand Golden Visa

How are the Chinese are being targeted?

Thailand want to attract more Chinese residents through visa programme.  It has been revealed that Henley & Partners, a global citizenship and residence advisory...

Bangkok mid-year market update

How has the property market fared this year now we are well into the second half of 2017. We spoke recently spoke of the...

What is ‘generation rent’?

High property prices could possibly lead to a generation rent being born in Bangkok. Escalating property prices in places such as the United Kingdom has...
Chanin Vanijwongse, Habitat Group CEO

Habitat Group embraces prime Bangkok luxury

Habitat Group announced its plans for 2018 that will see the firm invest THB 4 billion on developments in Bangkok’s central business district (CBD)...
Phrom Phong and Thong Lor are the best place for Bangkok real estate investment

These two neighbourhoods are the best place for Bangkok real estate investment

Finding the best place for Bangkok real estate investment has long led property buyers to the city’s central business district. However, new research from...
Boracay Newcoast holiday home for sale

Spectacular Southeast Asia holiday homes available on Dot Property

There is no shortage of amazing Southeast Asia holiday homes for sale. And you’ve come to the right place if you’re looking for one....
Dot Property Show 2018

Real estate rewind: The top stories on Dot Property in 2018

It’s safe to say 2018 was a busy year for both Dot Property and real estate in Asia. We covered a lot of interesting...
Manchester City real estate for sale

Football & Property: Why Manchester is the city that keeps winning

Manchester City once again won the Premier League for a second year in a row and has a chance to add the Champions League...
Dot Property Awards 2019 SC Asset

Top developers lead the outstanding group of winners at the Dot Property Thailand Awards...

The inaugural Dot Property Winning Weekend was the perfect setting for the 3rd annual Dot Property Thailand Awards as the real estate’s best turned out...

Subscribe to receive the latest property news