Why Thailand’s condo market slowed significantly in H1

No new condo projects were launched during this period.

Thailand’s condominium market slowed sharply in H1 2025 according to Knight Frank analysts, as major listed developers such as Sansiri, Sena, Major Development, and SC Asset postponed launches despite having projects ready.

“For the past six months, no significant new condo projects were launched, reflecting weak buyer confidence and tighter bank lending. Unsold inventory remains elevated and absorption rates subdued,” the analyst said.

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However, opportunities have emerged in the secondary and NPL markets, where discounts of 30–40% are being offered. Knight Frank recently closed a THB 108 million unit at One Bangkok, underscoring investor appetite for prime, well-managed projects at attractive prices.

Meanwhile, the housing market has shown resilience. Homes in the THB 5–10 million range continue to attract strong demand, supported by banks’ willingness to lend and younger buyers seeking long-term residences. In contrast, homes above THB 20 million have seen slower sales, with many buyers waiting for greater political and economic clarity before making decisions.