Bangkok records over 5,000 super prime condo units in H1

Only 180 new units from one project were added during the same period.

Bangkok’s super prime and prime condominium market continues to grow steadily. Although the land for development is scarce, Knight Frank said in a report that demand is still high among Thai and foreign buyers where location is the key buying factor. Condominiums in this segment are continually increasing in value. 

“As such, buyers still prefer to buy these condominiums for resale in the future because they believe that their value will keep increasing. Even though it is a second-hand condominium, the potential of land in prime areas causes constant high demand. Meanwhile, condominiums near international schools in the CBD area are playing a crucial part and becoming more popular among foreigners (especially the Chinese) as they are keeping an eye on this area,” the report added.

Here’s more from Knight Frank:

The total supply of super prime condominiums in mid-2023 was 5,194 units and only 180 new units (1 project) were added to the market. Most super prime condominiums are still located in the Sukhumvit area accounting for 46%, followed by the Lumpini area at 22%, while along the Chao Phraya River and Sathorn/Silom area accounted for 16% each.

As of mid-2023, the total supply of prime condominium units stood at 5,271, with no new units added to the market. The majority of these prime condominiums are located in the Sukhumvit area, accounting for 39% of the total, followed by the Sathorn/Silom area at 30%, the Lumpini area at 24%, and the Chao Phraya River area, which accounted for only 7%.