Bangkok’s condo market set for a slow-paced recovery this year

This will be more evident in the mid- to high-end segments.

Looking ahead to 2025, Knight Frank said the Bangkok condominium market is expected to face ongoing challenges and intense competition due to both domestic and global economic uncertainties, such as economic slowdowns, rising construction costs, and stringent credit policies.

“Despite these challenges, developers will continue to launch new projects according to planned strategies, potentially employing new sales tactics such as partial unit releases to generate interest and test market demand amid sluggish sales. This selective release strategy allows developers to adjust pricing and marketing approaches more flexibly, mitigating risks associated with unsold inventory,” the analyst added.

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Additionally, foreign buyers—particularly in prime locations such as along mass transit lines and near campuses or key amenities—will continue to play a role in driving market activity.

Overall, the Bangkok condominium market in 2025 is expected to experience a slow-paced recovery, particularly in the mid-to-high-end segments and in highly desirable locations. However, real demand buyers in the THB 1-3 million price range are likely to remain cautious in making long-term purchasing decisions and expenditures.

Frank Khan, Partner - Head of Residential, Knight Frank Thailand said that “The Bangkok condominium market will continue to face challenges in 2025, but I believe it will be a better year than the last. However, it will also be tougher as developers bring unsold inventory back to the market, offering price reductions and more promotions to attract buyers. This year will remain a buyer’s market, with investors becoming more aggressive in seizing opportunities.

I foresee developers continuing to release inventory at significant discounts, shaping market conditions throughout the year. These factors will drive activity, particularly in prime locations, as buyers and investors respond to the evolving landscape.”