Get all the data you need about the real estate market in Bangkok
SUMMARY
Yes, property prices in Bangkok are still rising overall, but the increase is slow and heavily concentrated in particular property types, buildings and prime locations.
The broad residential index has gained only about 1.3% in seven months. Bangkok is appreciating, but there is little evidence of another citywide property boom.
Condominiums look stronger on a year-on-year basis than they do right now. Condo prices are roughly 3.6% above a year earlier, yet the index has actually slipped from 205.1 in January to 204.3 in the latest reading.
Detached houses are much weaker. Their index is less than 1% higher than a year ago and is still recovering from the decline that followed last year's higher readings, while townhouses have held up somewhat better.
The apparent contradiction between modest official price growth and very expensive Bangkok listings comes partly from what developers are launching. New central projects are increasingly luxury, super-luxury or branded residences, so the properties appearing in front of buyers are becoming more expensive even when comparable older homes are barely moving.
New-build developers have limited room to push mainstream prices higher. REIC's new housing-estate index is down year on year, and promotions, furniture packages, transfer-fee support and other incentives can reduce the real purchase price without changing the advertised number.
Transaction data show buyers actively moving down the price ladder. Bangkok and vicinity recorded more residential transfers while the total value of those transfers fell, pushing the implied average transaction from roughly THB 3.51 million to THB 3.09 million.
The luxury market is genuinely different. Successful completed Downtown projects are close to sold out, Central Lumpini is attracting substantial spending, and foreign buyers account for a much larger share of purchasers in some premium projects than they did in recent years.
Bangkok's improved new-condo sales rates are also less bullish than they initially look. Developers are selling around half of new launches partly because they are launching far fewer units and targeting locations where they already know demand exists.
Prime land remains an important long-term constraint: the Bangkok and vicinity vacant-land index is more than four times its 2012 level. But expensive land cannot rescue a weak project, particularly in suburban areas where developers can still build plenty of competing stock.
The strongest candidates for further appreciation are therefore properties that are genuinely difficult to reproduce: prime freehold central sites, strong buildings in established Lumpini and Sukhumvit locations, and projects combining good management, walkability and limited future competition. Bangkok today is a selective appreciation market, not a market where simply owning property is enough.
Thinking of buying real estate in Bangkok?
Acquiring property in a different country is a complex task. Don't fall into common traps – grab our guide and make better decisions.
Are Bangkok property prices still rising now?
Yes, Bangkok property prices are still rising overall, but today’s increase is slow, uneven and much more concentrated than the headline suggests.
The latest Bank of Thailand residential price index for Bangkok and the surrounding provinces reached 172.8, up from 170.6 at the start of the year. That works out to roughly 1.3% growth in seven months. Prices are moving upward, but Bangkok is clearly nowhere near another citywide property boom.
The split between property types is much more revealing. The latest condominium index is 204.3, around 3.6% above its level a year earlier. Townhouses are up about 1.4% over the same period, while detached houses have risen by less than 1%.
There is another wrinkle. Bangkok condo prices climbed strongly late last year, but the index has barely moved this year: 205.1 in January versus 204.3 now. So condos remain significantly more expensive than a year ago, while the latest momentum has flattened.
Prices are generally holding or rising, but the speed depends heavily on what someone is buying.
| Bangkok and vicinity | One year earlier | Latest index | Approx. YoY change | Recent direction |
|---|---|---|---|---|
| Condominiums | 197.2 | 204.3 | +3.6% | Flat lately |
| Townhouses | 175.5 | 177.9 | +1.4% | Gradually rising |
| Detached houses | 141.1 | 142.2 | +0.8% | Recovering from weakness |
| Overall residential | — | 172.8 | Low single digits | Slowly rising |
Why can Bangkok property feel much more expensive than those numbers suggest?
Bangkok property feels more expensive today largely because buyers keep seeing newer and more premium homes, while the price of an equivalent existing property has moved much less.
A citywide property index compares similar properties over time. Someone browsing listings sees something different: whatever developers have decided to put on the market now. Increasingly, that means projects in established locations, beside mass transit, inside mixed-use developments or aimed at wealthier buyers.
CBRE recently recorded 2,380 new condominium units launched in Downtown Bangkok during the first half of the year, up 207% from the same period before. It also counted 8,982 units in midtown and suburban Bangkok, up 46%. Downtown launches are increasingly tilted toward luxury, super-luxury and branded residences.
That changes the price people encounter online. A THB 250,000-per-square-metre branded residence appearing in Central Lumpini makes Bangkok look more expensive even though an older condo several kilometres away may barely have changed price.
The longer history adds to that impression. The Bank of Thailand condo index has more than doubled since its 2011 base. Anyone remembering Bangkok condominium prices from ten or fifteen years ago is therefore right that the city has become much more expensive. The current increase, though, is far slower than that long-term shift.
Don't buy the wrong property, in the wrong area of Bangkok
Buying real estate is a significant investment. Don't rely solely on your intuition. Gather the right information to make the best decision.
Are Bangkok condo prices still rising?
Yes, Bangkok condo prices remain clearly higher than a year ago, although the latest data show that the rise has stalled for now.
The Bank of Thailand condominium index went from 197.2 a year earlier to 204.3 today, giving us that roughly 3.6% annual increase. Looking further back, the index was only 188 in mid-2023. Bangkok condos have therefore gained about 9% in roughly three years.
But most of the latest annual gain happened before this year. The index reached 205.1 in January and is now 204.3. Monthly readings have bounced around 203 to 205 for several months.
A year-on-year chart still looks positive because prices were softer around the middle of last year. A shorter chart looks almost flat.
For buyers asking whether they are currently being priced out every month, the answer is much less alarming than the 3.6% annual number makes it sound. Bangkok condo prices are expensive and still up year on year, but they are no longer climbing quickly right now.
| Period | Bangkok condo index | What changed |
|---|---|---|
| Mid-2023 | ~188 | Earlier recovery phase |
| Mid-2024 | ~199 | Stronger rise |
| Mid-2025 | 197.2 | Prices had softened |
| January this year | 205.1 | Strong rebound completed |
| Latest reading | 204.3 | Almost flat since January |
Are Bangkok house prices rising too?
Bangkok house prices are much weaker than condo prices today, especially for detached houses.
The Bank of Thailand detached-house index for Bangkok and the surrounding provinces stands at 142.2. A year earlier it was 141.1, so the annual increase is less than 1%. More importantly, detached-house prices were above 145 during parts of last year before falling sharply.
Townhouses look healthier. Their index has moved from 175.5 to 177.9 over the latest twelve-month comparison and has climbed fairly steadily this year.
The difference makes sense when we look at affordability. A buyer can enter Bangkok’s condominium market with a much smaller total budget than the amount needed for a modern detached house in a convenient location. Mortgage approval remains difficult for many households, so the larger ticket sizes of landed homes create a much tougher market.
The detached-house segment is one of the clearest reasons to avoid saying simply that “Bangkok property is rising.” Some properties are rising. Others have spent the past year going sideways or recovering lost ground.
Get to know the market before buying a property in Bangkok
Better information leads to better decisions. Get all the data you need before investing a large amount of money.
Are new Bangkok homes actually getting more expensive?
New Bangkok homes are currently struggling to become more expensive, and developers are often protecting advertised prices with promotions instead of pushing them higher.
REIC’s latest index for newly offered housing estates in Bangkok and surrounding provinces stands at 131.2. That is 0.9% below the same period a year earlier and only 0.2% above the previous quarter.
It measures a different market from the Bank of Thailand mortgage-based index. REIC looks at homes developers are actively trying to sell, and those developers are facing buyers whose purchasing power remains weak.
The behaviour is visible in how projects are marketed. Developers can offer free transfer fees, furniture packages, cash discounts, mortgage support or other incentives without cutting the official asking price. A unit advertised at THB 5 million may therefore have a lower effective selling price than its sticker price suggests.
REIC was already describing this pattern last year, when developers were choosing promotions over direct price cuts because unsold inventory was increasing. That behaviour has continued.
So anyone comparing developers’ published price lists should be careful. Today’s headline price can stay unchanged while the actual deal quietly becomes cheaper.
Is Bangkok’s luxury property market pulling away from the rest?
Yes, luxury Bangkok condos are currently performing much better than the ordinary housing market, especially in Central Lumpini and the strongest parts of Sukhumvit.
CBRE’s latest research puts the average sales rate of completed Downtown Bangkok condominiums at 93%. Completed luxury projects were about 95% sold. Among projects still in the pipeline, the average was much lower at 52%, although super-luxury projects had already reached roughly 85%.
Central Lumpini stands out. CBRE recorded more than THB 2 billion of condominium sales there in a single quarter. Across flagship projects including The Residences at Dusit Central Park, ONE89 Wireless, EL8HTEEN SEVEN and Scope Langsuan, CBRE reported more than THB 8 billion of cumulative sales.
Money at this end of Bangkok behaves differently. Affluent Thai buyers and international purchasers depend less on ordinary mortgage approval, while truly prime freehold land is difficult to replace.
The foreign mix has also changed. In CBRE’s tracked Downtown projects, international buyers now represent 32% of purchasers, compared with an 18% average between 2021 and 2025. Japanese, British, Taiwanese and Russian buyers were among the largest groups in super-luxury projects.
The expensive end of Bangkok is genuinely strong these days. It is also too small and too unusual to represent how the average Bangkok home is performing.
| Downtown Bangkok indicator | Latest figure | What we learn |
|---|---|---|
| Completed condo sales rate | 93% | Little stock remains in successful completed projects |
| Completed luxury sales rate | 95% | Luxury projects have sold particularly well |
| Pipeline sales rate | 52% | New projects still face selective demand |
| Super-luxury pipeline sales rate | 85% | Top-end demand remains unusually strong |
| Foreign share in tracked Downtown projects | 32% | International demand has become more important |
Buying real estate in Bangkok can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
Are Bangkok condo sales strong enough to support higher prices?
Bangkok condo demand has recovered a lot from its worst point, but current sales are still too weak to support aggressive price increases across the city.
Knight Frank’s latest study puts the launch-period sales rate for new Bangkok condos at 51.7%, up from 45.3% in the previous quarter. Developers are now selling roughly half of newly launched units during the quarter in which those projects appear.
That looks strong compared with the extraordinary low of 8.3% reached in early 2024. It looks much less impressive beside Bangkok’s pre-COVID market, when launch-period sales rates regularly exceeded 78%.
The recovery also came with much less supply. Developers launched 35,761 condo units in 2023. That dropped to 17,409 in 2025. Only 8,501 entered the market during the first half of this year.
Knight Frank itself says the roughly 50% sales rate reflects developers matching new supply more closely to the limited demand available. Smaller projects and better-selected locations make the percentage look healthier without requiring a huge return of buyers.
Prices can therefore hold up even while demand remains mediocre. Developers have simply become much better at avoiding projects that obviously will not sell.
| Bangkok condo launches | Units launched | Launch-period sales rate |
|---|---|---|
| 2023 | 35,761 | 28.4% |
| Early 2024 low | — | 8.3% |
| 2025 | 17,409 | 51.6% |
| First half this year | 8,501 | 47.0% |
| Latest quarter | — | 51.7% |
Are Bangkok buyers moving toward cheaper homes?
Yes, Bangkok buyers are clearly moving toward cheaper properties, which tells us more about current demand than rising price indices alone.
REIC recorded 33,672 residential transfers across Bangkok and the surrounding provinces during the first quarter, 10.5% more than a year earlier. Yet the total value of those transfers fell 2.8% to THB 103.9 billion.
If more homes change hands while buyers spend less in total, the average transaction has become cheaper. Using REIC’s figures, the implied average value fell from roughly THB 3.51 million to THB 3.09 million, a drop of about 12%.
Resale properties explain much of that change. REIC counted 19,053 resale transfers, up 16%, against 14,619 new-home transfers, up only 4%. Resales represented around 57% of all units sold.
The average resale transaction was roughly THB 2.14 million. The average new-home transaction was about THB 4.32 million, or roughly twice as much.
Buyers are finding ways to transact without accepting every new-build price developers ask. That puts a natural ceiling on how fast the mainstream market can rise.
| Bangkok & vicinity transfers | Units | YoY change | Total value | Approx. value per unit |
|---|---|---|---|---|
| New homes | 14,619 | +4.0% | THB 63.2bn | THB 4.32m |
| Resale homes | 19,053 | +16.0% | THB 40.7bn | THB 2.14m |
| Total | 33,672 | +10.5% | THB 103.9bn | THB 3.09m |
Don't lose money on your property in Bangkok
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
Are foreign buyers still pushing Bangkok condo prices up?
Foreign buyers are still supporting expensive Bangkok condos, but current foreign demand is too weak to explain a broad rise in Bangkok prices.
REIC counted 3,241 condominium transfers to foreign buyers across Thailand in the first quarter, down 17.3% from a year earlier. Their total value also fell 17.9% to THB 13.46 billion.
Chinese demand dropped particularly hard. Chinese buyers completed 906 transfers, down 38.8%, while the value of those purchases fell 42.9%.
Bangkok nevertheless remains the biggest foreign market by value. Foreigners spent THB 6.14 billion on Bangkok condos during the quarter, equivalent to about 45.6% of all foreign condo transfer value nationwide.
The nationality mix is also becoming less dependent on China. Russian purchases rose 33% by unit count and 68.7% by value nationwide, while CBRE is seeing more buyers from Japan, Britain, Taiwan, Russia and the Middle East in Bangkok’s premium market.
Foreign money can still push prices higher in the small group of buildings international buyers want. Across ordinary Bangkok condos, though, foreign demand has recently been a weaker force than it was before.
Are Bangkok land prices still pushing property prices higher?
Yes, expensive Bangkok land continues to put upward pressure on property prices, although land prices themselves have cooled lately.
REIC’s vacant-land price index for Bangkok and surrounding provinces reached 440.9 in the latest quarter. The index was 100 in 2012, so the cost of undeveloped land has more than quadrupled over that period.
Compared with a year earlier, the index is still up 6.2%. Compared with the previous quarter, however, it fell 1.8% from 449.1.
Developers buying land in Bangkok today face a completely different cost base from developers that bought sites a decade ago. Construction, labour, financing and land all have to fit into the final selling price.
But developers cannot automatically pass every extra baht of cost to buyers. When the required condo price gets too high for the area, projects are delayed, made smaller, repositioned or abandoned.
Land therefore keeps a floor under many prime Bangkok projects, particularly where replacement sites are genuinely scarce. It does much less for an ordinary suburban project surrounded by developable plots.
| Bangkok & vicinity vacant-land index | Index level | Change |
|---|---|---|
| 2012 base | 100 | — |
| One year earlier | 415.2 | — |
| Previous quarter | 449.1 | — |
| Latest quarter | 440.9 | +6.2% YoY, -1.8% QoQ |
Get the full checklist for your due diligence in Bangkok
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
Are lower interest rates about to restart Bangkok’s property boom?
No, lower rates are helping Bangkok property buyers, but financing is still nowhere near easy enough to restart a broad boom.
The Bank of Thailand cut its policy rate from 1.25% to 1.00% earlier this year and has kept it there at its latest meetings. That reduces some financing pressure on households and developers.
Mortgage rules have also become more supportive. The Bank of Thailand extended temporary loan-to-value relaxation, allowing LTV ceilings of up to 100% for categories that would normally face stricter limits.
But the central bank has simultaneously been warning that household liquidity remains tight and that credit growth is subdued. A bank being allowed to lend 100% of a property’s value does not mean it wants to do so for every borrower.
Knight Frank makes the same point from inside the property market: financial readiness and mortgage approval are now major factors in whether a reservation actually becomes a completed sale.
Lower rates should help prevent demand from deteriorating further. For a genuine Bangkok property boom, we would need to see easier credit translate into much stronger sales across ordinary projects. We are not seeing that yet.
Is Bangkok running out of condos in the places people actually want?
Bangkok still has plenty of housing overall, but good projects in a few proven locations are becoming much scarcer than the citywide supply numbers suggest.
Years of development left Bangkok with large inventories of unsold units. Developers have reacted by cutting launches and becoming more selective. REIC recorded a 31.1% annual fall in newly launched residential units across Bangkok and surrounding provinces during the first quarter.
The condo data show the same adjustment. New launches fell from 35,761 units in 2023 to 17,409 in 2025. Current supply is starting to rise again, but developers are concentrating much more heavily on locations where demand has already been proven.
That leaves Bangkok with two very different kinds of supply. Generic units remain abundant. A large high-quality freehold condo beside an established central BTS station is much harder to replace.
This is how an oversupplied city can still produce record prices in certain buildings. Scarcity exists at the micro level rather than across Bangkok as a whole.
Don't sign a document you don't understand in Bangkok
Buying a property over there? We have reviewed all the documents you need to know. Stay out of trouble - grab our comprehensive guide.
Which Bangkok properties can still keep rising?
Bangkok properties with something difficult to reproduce have the best chance of continuing to rise from here.
Central Lumpini is the easiest example. Large freehold sites around Wireless Road, Langsuan, Chidlom and the surrounding business district are finite, replacement costs are high, and completed luxury projects are already heavily sold.
Parts of Sukhumvit also qualify, especially around Phrom Phong and established Thonglor locations where transit, retail, restaurants, offices and international demand overlap. Even there, the building matters. An ageing project with poor management can underperform a newer project a few hundred metres away.
Further from the centre, mass-transit access can certainly support prices, but a station alone is a weak investment thesis. When large plots remain available, developers can keep adding hundreds or thousands of competing units.
Building quality, management, usable layouts, actual walkability, resale liquidity and future competing supply now matter more than simply buying somewhere with a Bangkok postcode.
For investors today, “scarce versus easy to replicate” is one of the more useful ways to divide the market.
So, are property prices in Bangkok still rising?
Yes, Bangkok property prices are still rising overall, but the claim is only partly true once we look beyond the average.
The latest official data show the broad Bangkok residential index moving upward. Condos remain about 3.6% above their level a year earlier, townhouses are modestly higher and detached houses have barely appreciated. Condo prices themselves have been almost flat since the beginning of this year, so the latest momentum is softer than the annual comparison suggests.
The demand data make the market look even less bullish. New condo sales rates have recovered to around 50%, but developers have achieved that while launching far fewer units than several years ago. Residential transfers are rising, yet buyers are spending less per transaction and moving heavily toward cheaper resale homes. Foreign purchases are down nationally, particularly among Chinese buyers.
Meanwhile, luxury Bangkok is having a very different year. Completed Downtown luxury projects are close to sold out, Central Lumpini is generating billion-baht quarterly sales, foreign participation in CBRE’s premium projects has increased, and prime land still costs much more than it did a year ago.
We can therefore be fairly specific about what “rising Bangkok property prices” means today. Ordinary Bangkok housing is mostly flat to gently higher. Good condos have held their gains. Prime luxury property and scarce central sites are much stronger. Weak projects can still lose value even while the citywide index rises.
Bangkok is currently a selective appreciation market. Buying the city is no longer enough; buyers increasingly need to get the building, location and entry price right.
Get fresh and reliable information about the market in Bangkok
Don't base significant investment decisions on outdated data. Get updated and accurate information.
OUR METHODOLOGY
This analysis tests whether property prices in Bangkok are still rising by separating a broad citywide question into the parts most likely to change the answer: underlying price movement, recent momentum, property type, new versus resale demand, transaction values, new-project sales, foreign buying, luxury-market performance, land costs, financing conditions and local scarcity.
Official data from the Bank of Thailand and the Real Estate Information Center form the backbone of the analysis. We use the Bank of Thailand’s residential property price series for condominiums, townhouses, detached houses and the broader Bangkok and vicinity market, while REIC provides the transaction, new-housing, foreign-buyer and vacant-land datasets.
We deliberately compare different kinds of evidence rather than treating them as interchangeable. Year-on-year price growth is checked against shorter-term momentum, transaction volumes are read alongside transaction values, new-build activity is compared with resale activity, and citywide figures are separated from conditions in prime central Bangkok.
Where the published figures allow it, we derive additional measures directly from the underlying data. For example, total residential transfer value is divided by the number of transfers to estimate how the value of the average property changing hands has shifted. Historical comparisons are used mainly when they put current conditions into perspective.
Market research from CBRE and Knight Frank is used where official datasets do not provide enough detail, particularly for Downtown Bangkok launch activity, luxury and super-luxury sales rates, foreign participation in premium projects and launch-period condominium sales.
Key sources include the Bank of Thailand Residential Property Price Index, REIC’s Q2 2026 new housing-estate price index, REIC’s Q2 2026 new condominium price index, REIC’s Q1 2026 Bangkok and vicinity housing-market report, REIC’s Q1 2026 foreign condominium transfer report, and REIC’s Q2 2026 vacant-land price index.
For more granular market evidence, we also use CBRE Thailand’s 2026 Mid-Year Outlook, CBRE’s research on Bangkok and Phuket luxury condominium markets, and Knight Frank Thailand’s latest Bangkok condominium sales research.
Financing conditions are checked against primary Bank of Thailand material, including the February 2026 Monetary Policy Committee decision, the August 2026 Monetary Policy Committee decision, the extension of temporary LTV relaxation, and the Q2 2026 Banking Sector Quarterly Brief.
The final assessment aggregates these different measures rather than allowing one indicator to decide the answer. Strong luxury sales do not mean Bangkok as a whole is booming, just as weaker mainstream demand does not mean every central project is stagnant. The conclusion comes from where the latest price, demand, supply, financing and segment-level evidence converges.
Get to know the market before buying a property in Bangkok
Better information leads to better decisions. Get all the data you need before investing a large amount of money.
Related blog posts
- Are Bangkok condo prices finally falling?
- Will property prices rise in Bangkok?
- How much does a townhouse cost in Bangkok now?
- Is Bangkok’s condo market actually oversupplied?
- What are the biggest risks when buying property in Bangkok?
