The question about the number of condos for sale in Bangkok is one that is often debated but rarely identified.
Now Thailand’s Agency for Real Estate Affairs (AREA) has published data showing how many condos for sale were available in mid-2018.
Dr.Sopon Pornchokchai, the President of AREA, said that as of mid-2018, there was a total of 180,635 housing units of all kinds for sale in Bangkok.
Of these, almost 70,000 were classified as being condos for sale.
AREA said the total value of all available property was more than US$ 23 billion, with each unit worth an average of US$ 127,242 (THB 4.17 million).
AREA clarified that because a unit was available at the time of its survey, it did not mean it could not be sold.
Focusing solely on condos for sale in Bangkok, AREA reported there were some 555 with price tags of less than THB 500,000. These will likely be in poor locations with limited infrastructure and mass-transit links.
The price bracket with the most condos for sale was the THB 1.5 million to THB 2 million with a total of 15,047 units for sale.
At the higher end of the market, AREA reported there were more than 3,000 units with prices in excess of THB 10 million.
Condominiums represented the largest percentage – at 38.7 percent – of the surveyed types of property for sale.
Thai property portals often have listings of condos for sale that break the 100,000 units level however, this illustrates the level of duplication within the market, where multiple agents will list the same property.