New Condo Supply Coming To Bangkok Hotspots

10 เม.ย. 2561

New Condo Supply Coming To Bangkok Hotspots

The will be more condo supply launched in Bangkok this year with the most popular locations for this being Thong Lor, Phaya Thai, and Charan Sanitwong Road, reports local media. More than 60,000 condo units are expected to be launched in Bangkok in 2018 which is an increase from last year when 58,424 were announced by developers.

“Developers will keep launching new condo projects, as they are confident in this market, particularly in locations along new mass transit lines. The middle- to upper-end segment will continue to be healthy, while the low-end market will continue to slow,” says Phattarachai Taweewong, Senior Manager of the Research Department at Colliers International Thailand.

Thong Lor will have the most new condo supply launched in 2018 with at least 3,300 units from 11 projects set for the area. Prices for these units will be high due to rising land costs with minimum selling prices per unit starting at THB250,000 per sq. metre.

Large developers who can afford the land will build most of the new projects in Thong Lor. Land & Houses and Ananda are launching new condos on Sukhumvit Soi 38 opposite Soi Thong Lor while Sansiri is going to develop a project on Sukhumvit Soi 34 after recently buying the land from Bangkok Sky Sukhumvit 34 Co. Meanwhile, Origin Property is expected to launch condo units on Thong Lor Soi 10 while Chewathai is constructing a condo on Thong Lor Soi 20.

The Phaya Thai area will see at least 2,000 condo units from 5 projects launched this year with Origin, Land & Houses, AP Thailand, Pruksa Real Estate, and Sansiri set to develop these. With the extension of the MRT Blue Line from Tha Phra to Bang Sue almost complete, Charan Sanitwong Road is another condo hotspot.

“Charan Sanitwong Road is a location for the middle- to lower-end market, which is still slowing down. This zone may have a lower sales rate than the other two locations,” says Phattarachai.

More insights about Bangkok property market, check out DDproperty Property Index Report and DDproperty Property Market Outlook Report and find out how much you can afford for  your new house, try our mortgage calculators . 

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