Bangkok luxury housing demand hits 24,790 units in April

This translates to a sales rate of over 65%.

The luxury housing market for units priced at 10 million baht and above in Bangkok and its surrounding areas continues to attract interest from high-potential buyers. According to a Knight Frank report, overall demand has continued to rise, reaching 24,790 units, representing a sales rate of 65.6%.

“The price segment between 10–40 million baht accounts for approximately 75% of total sales, reflecting that demand is concentrated primarily in the mid-to-upper luxury housing segment, which remains accessible to High Net Worth Individuals and senior executives seeking large homes with full functionality in prime locations,” the report said.

Here’s more from Knight Frank:

However, despite the continued demand, the number of luxury housing units sold between 2024 and April 2025 has decreased to only 1,000–1,500 units, which is below the average of previous years. This reflects the hesitation of some buyer groups to make purchasing decisions amidst economic uncertainty. While buyers still possess purchasing power, they are taking longer to consider and select their purchases.

Based on the distribution of accumulated luxury housing demand from the second half of 2024 to April 2025, Eastern Bangkok holds the highest share at 28% of the total market. This reflects the preference among consumers for luxury housing projects in the eastern part of Bangkok, which is well-connected to expressway networks, the airport, and emerging business centers, particularly the Krungthep Kreetha–Rama IX area, which continues to grow in popularity.

Western Bangkok and Western Suburb follow with accumulated demand shares of 21% and 16%, respectively, indicating sustained strong demand for luxury housing in the western part of the city, driven by factors such as large living spaces, reasonable unit prices, and the expansion of the electric train network.

In contrast, the Downtown zone accounts for only 4% of demand due to the limited land availability and extremely high land prices, leading luxury homebuyers to opt for more cost-effective suburban locations. Other zones, such as Northern Bangkok, Southern Bangkok, and Eastern Suburb, continue to play a moderate role, while areas with the lowest accumulated demand are Northern and Southern Suburb, which account for only 1%, reflecting that these locations are not currently the primary target for luxury homebuyers.

When breaking down supply and demand by price range, it is found that demand in the luxury housing market remains concentrated in the 10–30 million baht segment. In particular, houses priced between 10–20 million baht recorded the highest sales, reaching 13,891 units, which accounts for 38% of total sales in the second half of the year. This reflects the popularity among buyers who, while possessing high purchasing power, still prioritize value for money. Buyers in this segment typically include executives, business owners, or new-generation families seeking high-quality residences in prime locations.

Meanwhile, although the supply of houses priced above 70 million baht is limited, the sales rate is remarkably high at 84%, especially in the 71–99 million baht range. This reflects the demand from Ultra Affluent customers who seek residences that fulfill their specific preferences in terms of location, privacy, and social status. Buyers in this segment generally do not rely on mortgage financing and tend to make purchasing decisions based on lifestyle considerations or personal value rather than financial necessity.