Should you buy a condo in Bangkok now? (June 2025)

Authored by the expert who managed and guided the team behind the Thailand Property Pack

Yes, the analysis of Bangkok's property market is included in our pack

Bangkok's condo market in June 2025 shows moderate price growth of 7-11% year-on-year, with average prices reaching THB 150,000 per square meter.

While prime CBD locations command over THB 200,000 per square meter and luxury segments remain resilient, the market faces challenges from high inventory levels, the March 2025 earthquake impact on buyer confidence, and selective demand focusing on safety and quality construction.

If you want to go deeper, you can check our pack of documents related to the real estate market in Thailand, based on reliable facts and data, not opinions or rumors.

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Thailand. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the Thai real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Bangkok, Chiang Mai, and Phuket. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

Fact-checked and reviewed by our local expert

✓✓✓

Chalinna Salvin 🇹🇭

Co-Founder, Best BKK Condos

Chalinna, a Thai local, is the co-founder of one of Thailand's top real estate agencies for foreigners. She's also an expert on all the districts in Bangkok and knows the city's top development projects inside out. When it comes to negotiating, she's got you covered and will make sure you get the best deal possible. We spoke with her and added her insights to this blog post to bring a personal touch to our analysis.

What's the average condo price per square meter in Bangkok right now?

The average condo price in Bangkok currently stands at THB 150,000 per square meter as of June 2025.

This figure represents the general market average, but prices vary dramatically across different districts and property types. New condominiums typically fall within the THB 120,000 to THB 150,000 per square meter range, offering buyers a range of options depending on their budget and preferred location.

Prime central districts command significantly higher prices, with areas like Sukhumvit, Thonglor, and Phrom Phong regularly exceeding THB 200,000 per square meter. These premium locations continue to attract strong interest from both local and international buyers, particularly in the luxury segment where demand remains robust despite broader market uncertainties following the March 2025 earthquake.

The price variations reflect not just location but also factors such as developer reputation, construction quality, and proximity to mass transit lines. Properties near BTS and MRT stations typically command a 15-20% premium over similar units without convenient public transport access.

It's something we develop in our Thailand property pack.

How do current prices compare to last year?

Bangkok condo prices have increased by approximately 7-11% compared to 2024, though growth has decelerated significantly.

In 2024, new condominiums were generally priced between THB 120,000 and THB 140,000 per square meter. The current average of THB 150,000 represents a moderate increase, but the rate of growth has slowed considerably from earlier quarters when double-digit appreciation was common.

The condominium segment's year-on-year growth dropped to just 2.46% in Q4 2024, down from 7.2% in Q3 2024, indicating a clear cooling trend. This deceleration reflects increased market caution, high inventory levels, and the psychological impact of the March 2025 earthquake on high-rise property demand.

Looking ahead for the remainder of 2025, analysts project annual price increases between 2% and 7%, depending on location and market segment. The luxury market continues to outperform, while mass-market properties face pricing pressure from oversupply.

This slower growth environment represents a shift from the rapid appreciation seen in previous years, creating opportunities for buyers but challenges for developers expecting quick returns.

What are property analysts saying about Bangkok condo price trends?

Property analysts anticipate gradual price growth of 2-7% annually throughout 2025, with significant variations across market segments.

The consensus among experts points to a market in transition, where developers prioritize clearing existing inventory over launching ambitious new projects. The March 2025 earthquake has fundamentally altered buyer behavior, with safety and construction quality now ranking alongside location and price as primary decision factors.

Market Segment	Analyst Outlook	Key Factors
Luxury Condos	Strong performance expected	Foreign demand, limited supply
Mass Market	Continued pressure	High inventory, weak local demand
Prime Locations	Steady appreciation	Scarcity, rental yields
Suburban Areas	Flat to declining	Oversupply, poor connectivity

Analysts emphasize that selective buyer behavior focusing on quality developers and earthquake-resistant construction will continue shaping the market. The luxury segment remains the bright spot, with central locations attracting premium prices despite broader market challenges.

Most experts agree that the current buyer's market conditions will persist through 2025, offering opportunities for well-informed purchasers while challenging developers to differentiate their offerings.

Which Bangkok neighborhoods are experiencing the biggest price increases?

Huai Khwang and Chatuchak lead Bangkok's condo price appreciation in 2025, with units in Huai Khwang ranging from THB 3-5 million showing the largest increases.

These emerging districts benefit from improved infrastructure and offer better value compared to established prime areas. Din Daeng also shows above-average growth, attracting buyers seeking alternatives to premium-priced central locations while maintaining reasonable connectivity to business districts.

Traditional luxury areas like Sukhumvit, Thonglor, and Phrom Phong continue their steady appreciation, with prices exceeding THB 200,000 per square meter. These districts maintain strong foreign interest and command premium prices due to their established infrastructure, international communities, and proximity to lifestyle amenities.

Interestingly, peripheral areas just outside Bangkok proper, particularly Samut Prakan and Nonthaburi, have seen higher-than-average price increases. These areas benefit from improved transportation links, including BTS and MRT extensions, while offering significantly better value for money compared to central Bangkok.

The price growth in these emerging areas reflects changing buyer preferences, with many willing to trade central locations for larger living spaces and modern amenities at more affordable price points.

Are any Bangkok areas seeing flat or falling condo prices?

Several Bangkok areas are experiencing stagnant or declining condo prices, particularly suburban developments far from mass transit lines.

Lower-priced segments in outer Bangkok face the most significant challenges, with oversupply and weak demand leading to actual price declines in some locations. Projects located more than 1 kilometer from BTS or MRT stations struggle to attract buyers, forcing developers to offer heavy discounts and extended payment terms.

Some suburban projects report selling periods extending beyond 3 years, with developers offering discounts of 10-20% from original launch prices. Areas particularly affected include parts of Nong Chok, Lat Krabang, and certain sections of Min Buri where oversupply meets limited buyer interest.

Even with significant promotions, including furniture packages, fee waivers, and guaranteed rental returns, these areas struggle to clear inventory. The market clearly demonstrates buyers' preference for well-connected, central locations over peripheral developments, regardless of price advantages.

This divergence between prime and peripheral areas has widened since the March 2025 earthquake, as buyers increasingly prioritize established areas with proven infrastructure and developer track records.

How have Bangkok condo supply and demand levels changed recently?

Bangkok's condo market faces a significant supply-demand imbalance with approximately 74,000 unsold units creating a clear buyer's market.

On the supply side, new launches are recovering modestly with a 10% year-on-year increase to 30,724 units forecast for 2025. However, this remains well below pre-pandemic levels when annual launches regularly exceeded 40,000 units. Only about 3,000 new prime condo units are expected to complete in 2025, reflecting developers' cautious approach.

Demand has softened considerably, particularly for high-rise condos following the March 2025 earthquake. Sales rates for new launches have dropped below 30% in Q2 2025, compared to historical averages of 40-50%. Buyers now prioritize safety, developer reputation, and construction quality over price alone.

The market dynamics vary significantly by segment. While luxury properties in prime locations maintain reasonable absorption rates, mass-market projects struggle with extended selling periods. Strong rental demand in central areas partially offsets weak owner-occupier interest, providing some support to the investment market.

It's something we develop in our Thailand property pack.

Are foreign buyers having a bigger impact on Bangkok's condo market?

Foreign buyer dynamics have shifted dramatically in 2025, with Myanmar, Taiwan, and India emerging as significant new sources of demand.

While overall foreign condo purchases grew just 1%, the composition has changed substantially. Chinese buyers, previously dominant, have reduced purchases due to economic constraints and capital controls. Russian buyers similarly face challenges from geopolitical issues and currency devaluation.

Myanmar buyers now represent the fastest-growing segment, driven by political instability at home and Bangkok's relative proximity. Taiwanese investors show increased interest in Thai property as a diversification strategy, while Indian buyers emerge as a significant force, particularly for larger units suitable for families.

Foreign demand concentrates heavily in the luxury and super-luxury segments, with international buyers accounting for over 40% of purchases in projects priced above THB 10 million. This concentration drives new project launches in central Bangkok despite overall market caution.

The shift in foreign buyer demographics influences developer strategies, with increased focus on larger units, enhanced amenities, and multilingual marketing campaigns targeting these emerging markets.

What's the situation with interest rates and getting a mortgage in Thailand?

The Bank of Thailand's rate cut to 1.75% in April 2025 and temporary 100% loan-to-value ratios offer unprecedented financing opportunities, though strict income requirements limit accessibility.

This policy rate represents the lowest level since April 2023, reduced from 2.25% to support economic growth and the property sector. Commercial banks have responded by lowering mortgage rates, with some offering rates as low as 2.5% for the first three years.

Mortgage Feature	Current Status	Validity Period
Policy Rate	1.75%	From April 2025
Maximum LTV Ratio	100%	Until June 2026
Typical Mortgage Rate	2.5-4.5%	Varies by bank
State Bank Special Rates	As low as 2%	Limited quotas

Despite these supportive policies, banks maintain strict credit standards. Income requirements, debt service ratios, and employment stability remain key factors in loan approval. The impact of LTV easing is expected to be modest, primarily benefiting middle to upper-income buyers who already qualify for loans.

State banks provide special low-interest housing loans with limited quotas, creating opportunities for eligible buyers but falling short of addressing broader accessibility challenges in the market.

Are there new government rules or incentives affecting condo sales?

The government has introduced significant incentives including reduced transfer fees to just 0.01% for properties up to THB 7 million, valid until June 2026.

This dramatic reduction from the standard 2% transfer fee and 1% mortgage registration fee represents substantial savings for buyers. On a THB 5 million property, buyers save approximately THB 150,000 in transaction costs, making property purchases more attractive.

Additional measures include relaxed lending conditions through state banks, temporary 100% LTV ratios for most property types, and discussions about potentially raising foreign ownership caps above the current 49% limit. However, the foreign ownership change remains under consideration without implementation timeline.

Despite these incentives, market response remains muted. Buyers focus more on safety, quality, and long-term value than short-term savings. The March 2025 earthquake fundamentally altered buyer priorities, reducing the impact of financial incentives alone.

These measures demonstrate government commitment to supporting the property sector, but market participants suggest that addressing oversupply and improving construction standards would have greater long-term impact.

How many new Bangkok condo units are launching this year versus last year?

Bangkok will see approximately 30,724 new condo units launched in 2025, representing a 10% increase from 2024's 27,931 units but remaining 37% below 2023 levels.

The modest recovery from 2024's sharp 43% decline reflects developers' continued caution in a challenging market environment. The 2025 figure remains well below pre-pandemic levels when annual launches regularly exceeded 40,000 units, indicating a fundamental shift in market dynamics.

Developers now focus on high-end segments with better profit margins, projects near mass transit lines, and developments featuring strong earthquake-resistant construction. The emphasis has shifted from volume to quality, with smaller, more targeted launches replacing the mega-projects of previous years.

This conservative approach reflects lessons learned from current high inventory levels and changing buyer preferences. Developers prioritize projects with clear differentiation, whether through location, design, or safety features, rather than competing purely on price.

The trend toward fewer but higher-quality launches is expected to continue through 2025, with developers carefully timing releases to match market absorption capacity.

What are real estate professionals saying about buyer attitudes in June 2025?

Real estate professionals describe Bangkok's condo market as firmly in "buyer's market" territory, with purchasers enjoying unprecedented negotiating power and choice.

Agents report that buyers now take 3-6 months for purchase decisions compared to 1-2 months in previous years. The March 2025 earthquake fundamentally changed priorities, with construction quality and safety features now ranking equally with location and price in decision-making.

Buyers demonstrate clear preferences for established developers with proven crisis management capabilities, willingness to pay premiums for newer buildings with modern earthquake-resistant features, and patience to wait for the right opportunity rather than rushing purchases. They also focus heavily on long-term value over short-term gains.

Developers have responded by increasing marketing budgets and promotional campaigns, offering greater flexibility on pricing and payment terms, enhancing focus on build quality and safety features, and delaying launches for non-essential projects to focus on clearing existing inventory.

The shift in market dynamics creates opportunities for well-informed buyers while challenging developers to differentiate beyond traditional factors of price and location.

Is rising rental demand pushing up Bangkok condo prices?

Strong rental demand in prime Bangkok areas provides crucial price support, with Grade A apartments seeing 8.8% year-on-year rent increases and prime locations experiencing 15.9% annual growth.

This robust rental market particularly benefits central Bangkok properties near business districts, international schools, and expatriate communities. Average rental yields range from 4-6% for mid-range properties, with premium properties in locations like Sukhumvit and Silom achieving even higher returns.

The rental market's strength attracts buy-to-let investors seeking stable income streams, particularly given global economic uncertainties. Properties suitable for expatriate tenants, featuring modern amenities and convenient locations, command premium rents and maintain high occupancy rates.

However, rental demand hasn't fully offset weak owner-occupier interest in the broader market. Mass-market segments see limited price support from rentals, as these properties typically attract local tenants with more modest budgets. The divergence between prime and mass-market rental performance mirrors the sales market dynamics.

It's something we develop in our Thailand property pack.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Thailand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Global Property Guide
2. Bamboo Routes
3. CondoDee
4. The Nation Thailand
5. Bangkok Post Property
6. Asia Real Estate Summit
7. Trading Economics
8. Real Estate Asia
9. CBRE Thailand
10. Knight Frank Thailand via AustCham