Bangkok Condominium Q4 2019
An overview of Bangkok condominium in 2019 showed that there were a total of 44,662 newly launched condominium units for sale with the development value of approximately THB219,180 million, a decrease of 66,021 from the previous year. There was approximately 33.4% of the supply launched for sale which was similar to the number of unit launched in 2017 at approximately 44,065 units. It is expected that a new supply of condominiums launched for sale in 2020 will approximately be 40,000 to 43,000 units, which will be similar to or slightly lower from 2017.During 2019, the condominium market in Bangkok was in the slowdown period in terms of supply, which sees the decrease of the newly launch units for up to 40% from the original development plan and it has been found that up to 44% of condominium units or approximately 19,514 units of the newly launched supply were located in the outer Bangkok area, as the land price in those areas is still affordable. Developers can sell at a price lower than THB100,000 per sq.m., especially along the BTS sky train routes that are currently being under construction, which found that only 18 projects, or approximately 5,753 units, were launched in the inner city area (Sathorn , Silom, Early Sukhumvit).