Bangkok hotspot for new launches revealed

property market
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The Bangkok condo property sector will see a rise in new launches of 10 percent during 2018.

According to new research, this year will also have seen most new launches in the Bangkok condo sector for 10 years.

With more new launches coming to market, this could be seen further ammunition to support growing claims that some parts of the Bangkok condo market are experiencing an oversupply situation.

Real estate agency Nexus Property said the Phra Khanong and Suan Luang areas saw the largest number of new launches during 2017, and will continue to do so next year.

This district is continuing to attract interest from buyers and renters of all nationalities, although going back just three years anyone outside Thailand would struggle to point to Phra Khanong on a map of Bangkok.

The Pathumwan and Ratchathewi areas saw the highest increase in prices, up to 16 percent, the agency reported.

One future trend noted by the agency will be increasing investment by foreigners.

According to the Nexus survey, the top location for Bangkok condo supply increases during 2018 will continue to be the hotspot of Phra Khanong and Suan Luang, with 14,400 units or a rise of 23 percent on 2017 figures.

The Phayathai and Ratchadaphisek areas will rank second with 13,200 units, up 21 percent, with Thonburi and Petchakasem, with 8,900 units, ranked third with growth of 14 percent.

Nexus added that new supply in these locations will account for as much as 58 percent of the total number of new launches in Bangkok during 2018.

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of Andrew has been writing about property and real estate issues in Thailand and Southeast Asia for more than 10 years. He has worked for PropertyGuru Group, DDproperty, Dot Property Group, Hipflat and AsiaRents. He has also produced content for leading Thailand property developers and real estate agencies.

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