According to Colliers Thailand, Bangkok's condominium market has returned in Q1 2022, with new launches and the sales rate rising to the highest level in several quarters. This is due to two positive factors:
Ease of the loan-to-value [LTV] ratio for mortgage lending in October 2021
the country's reopening on 1 November 2021
CONDOMINIUM MARKET CONDITION Q1 2022
Supply: More than half of the new supply was from listed developers, with 8,022 units worth 24.6 billion baht.
Popular Locations: The outskirts of Bangkok (10 projects and a total of 5,732 units launched, which accounted for 41%), followed by eastern Bangkok and Bang Na with 5,007 units from only 1 project. The project had a sales rate of over 90% during the launch period as the sales price was only 1.2 million baht per unit, or around 43,000 baht per square metre.
Attractive Factors: low prices and good locations (amenities nearby)
On top of that, there were 16 new condominiums with a total of 14,088 units worth over 34.6 billion baht launched in Q1 2022, the largest since Q4 2019, 3.4 times higher than the same period last year.
POPULAR LOCATIONS
For new condominiums, the popular locations among developers remain near new or under-construction mass transit lines (MRT/BTS).
These locations consist of:
Orange Line from Ramkhamhaeng to Lam Salee
Yellow Line along Lat Phrao and Srinakarin roads
Pink Line on Ram Intra Road
Kaset-Nawamin and Sukhumvit areas
Credit Source: mrta
TOP 10 NATIONALS RECEIVING CONDO TRANSFERS NATIONWIDE (BY UNIT)
According to the Real Estate Information Center, here are the number of condominiums transferred to foreigners in Q1 2022:
Leading Market: Chinese. The decline in the number of buyers is due to the current country’s zero-Covid policy.
Largest Increase: Russian. A rise of more than 22%, which saw the largest increase at 100%.
Emerging Markets: Indian and Cambodian. India emerged to reach eighth by unit number, while Cambodia ranked in third place by value (with the highest value per unit at 18.2 million baht or an average 315,825 baht per square metre with an average size of 57.7 sq m).
Most Popular Size: 30-60 sq.m. or 1 to 2-bedroom units (46%), followed by smaller than 30 sq.m. or studio to 1-bedroom units (38%).
Average Unit Size and Unit Price: 46.1 sq.m. and 4.87 million baht or 105,470 baht per sq.m., respectively.
Most Popular Choices for Foreigners: Bangkok (829 units - 39%) and Chon Buri (677 units - 32%).
Other Favorite Destinations: Samut Prakan (230 units), Phuket (164 units), Chiang Mai (97 units).
