Bangkok to see around 1,000 new luxury residential units this year

Pre-sales are already approaching 84%.

Bangkok's luxury residential market showed signs of recovery in the first quarter of 2026, with discounted units in the mid-Sukhumvit area helping to revive buyer demand, according to JLL.

The consultancy said demand bottomed out and gradually improved during the quarter, supported by price incentives at existing projects in Thonglor and Phrom Phong. Foreign buyers remained active in new project launches, with some developments nearing their foreign ownership quotas.

Two luxury condominium projects comprising 315 units were completed during the quarter, lifting total stock to 73,885 units. JLL noted strong demand for two-bedroom units ranging from 60 to 100 sqm, while developers adopted a cautious approach to new launches, focusing on established locations and scaling back planned 2026 projects.

Despite improving demand, inventory clearance efforts continued to weigh on pricing. Capital values fell 1.3% quarter-on-quarter amid heightened competition and incentive-led sales campaigns. In contrast, rental demand remained resilient, with luxury condominium rents in the central business area rising 0.3% quarter-on-quarter and 5.1% year-on-year. Rental yields edged up to 5.4%.

Looking ahead, JLL expects around 1,000 units to be completed in 2026, with presales already approaching 84%. While uncertainty surrounding the extension of government stimulus measures could affect buyer sentiment, the consultancy said emerging demand from Middle Eastern buyers may provide a new source of market support. Rental growth is forecast to moderate to 2.4% year-on-year, while capital value growth is expected to remain modest at 1.7%.