Quake Hits Bangkok Condo Market: Sales to Plummet to 15-Year Low

[webfact]

Bangkok. File photo for reference only

 

In Bangkok, high-rise buildings are feeling the aftershock of a recent earthquake, with condo buyers' confidence shaken to its core.

 

Damages found in many condos have homeowners worried, causing experts to predict a slump in condo sales and transfers to levels not seen since 2010. Industry professionals are bracing for the worst quarter for condo activity in over a decade.

 

Phattarachai Taweewong from Colliers Thailand reports that potential buyers and existing condo owners are hesitant, impacting sales for high-rise units.

 

Buyers with pending transfers are expected to delay as they assess the post-earthquake safety of buildings. New condo sales in April-June 2025 could hit a new low, following the previous low of 19 billion baht in mid-2024.

 

Looking at supply, 31.4 billion baht worth of condos in Greater Bangkok are scheduled for transfer by mid-2025. This compares to a 33 billion baht transfer scheduled in early 2025, with both numbers well below the peak of 85.9 billion baht seen in late 2024.

 

 

 

With a substantial unsold inventory of 458.4 billion baht, the market is flooded with options for wary buyers.

 

However, the silver lining lies in the low-rise housing market. These homes, seen as safer investments, are predicted to see stable or increased sales.

 

Surachet Kongcheep from Cushman & Wakefield notes that confidence in condos will take time to rebuild, and developers are urged to focus on safety reassurances. Comprehensive safety inspections and certifications are critical to restoring trust.

 

Developers may face a wave of cancellations, especially for new transfers. Many are delaying new project launches and marketing efforts until the market stabilises.

 

As the property market navigates these uncertain times, the emphasis remains on building safety and consumer confidence.

 

Based on a story by Bangkok Post

 

-- 2025-04-01

 

 

[henryford1958]

Potential buyers just need to check, was the condo built by a Chinese company

[SLOWHAND225]

What a stupid thread. It happened 2 days ago, the market hasn't done anything yet

[Tropicalevo]

30 minutes ago, webfact said:

However, the silver lining lies in the low-rise housing market. These homes, seen as safer investments, are predicted to see stable or increased sales.

 

But what about when Bangkok floods because of rising sea levels?

[petedk]

This is an April fool's joke, right?

 

 

[shackleton]

Should be some good deals coming up in Condo sales 🤑

[Toby1947]

Condos now worth 2 pork sausages each, that's definitely  plummeted from 3 pork sausages pre earthquake. 🤣😅

[geisha]

Interest in Bangkok might slow down for a while. Future buyers will want  to know if their building is really earthquake secure, and also the buildings around .I don’t like high buildings, but if I was buying I would check out the whole area , not only the condo I m interested in. Surely, if one building toppled in a built up area, it would affect the others around it. Then, do all recent condos have the correct permits and safety ? 

[Formaleins]

I know! A brainwave! Let's patch up all the crap with filler and sell them off as 100% Foreign owned! Let those damn farang sort it out.

[mithunonthenet]

Those built by Japanese construction companies will see high demand. Nobody will touch the Chinese-built ones.

[Hanuman2547]

Still a lot of speculation on how the condo market will react.

[Scouse123]

I think it's plain and simple, Bangkok is vastly over supplied in the Condo market.