Bangkok condominium market 2026, read for a foreign buyer

Bangkok's condominium market in 2026 splits in two. Below the prime segment there is a large overhang of unsold units, weak absorption and flat prices. At the upper end, completed stock is largely sold, new launches are few and asking prices are rising. An overseas buyer usually shops in the second market and can use the weakness of the first to negotiate.

Supply: an overhang below, scarcity above

The first quarter was subdued, held back by household debt and strict mortgage approvals. Developers launched about 6,174 units in the quarter. None was in the central business district: 58% were in the city fringe and 42% in the suburbs, and 68% were priced below THB 80,000 per sqm. Buyers reserved only about 24.3% of newly launched units.

Unsold inventory stands at about 350,000 units. With roughly 60,000 units transferred a year, clearing it would take five to six years if little new supply were added.

Downtown, new supply at the upper end has been thin, and it is returning.

Downtown launches in the first half came to 2,380 units, up 207% on the first half of 2025, a period depressed after the 2025 earthquake. Second-half launches downtown are mainly super-luxury branded residences.

Bangkok has 74,922 luxury condominium units after five completions in the second quarter, with about 1,900 more due by 2029, some 3% of the existing stock, and none expected in the rest of 2026.

Prices: stable on average, firm at the top

Average asking prices in the first quarter of 2026:

The small fall in the centre reflects price pressure in the upper-end segment, and developers are favouring stock clearance over price rises. The narrower measure, high-end freehold units still under construction downtown, rose through the same period. The two are compatible: older and secondary stock is being discounted while a small number of new prime projects set higher prices.

At the very top, some units at Upper House Residences had sold above THB 850,000 per sqm by October 2026, and the best prime stock may pass THB 1 million.

Demand: who is buying

Completed condominiums are 93% sold on average and 95% in the luxury segment. Units under construction are 52% sold on average and 85% in the super-luxury segment. By the second quarter, 52.4% of future downtown supply across 34 projects had been sold.

Foreigners are a larger part of that demand than before. The foreign share of central Bangkok condominium buyers was 32% in 2026, against an average of 18% between 2021 and 2025. In the super-luxury segment the largest foreign groups, in order, were Japanese, British, Taiwanese and Russian. Across the country, as our report on foreign buyers in 2025 and 2026 shows, Chinese demand is falling in the mass market.

Rents and yields

Luxury condominiums in central Bangkok yielded about 5.4% gross in the second quarter of 2026, with rents stable and capital values in the centre still trending down. A rising yield produced by falling prices is not a gain for existing owners. See rental yields in Thailand for the gap between gross and net.

What a foreign buyer should take from it

• Negotiate. Developers are putting clearing stock ahead of raising prices. Ask for incentives, and compare with resale units in completed buildings nearby.
• Buy the location, not the launch. Proximity to mass transit, a well-run juristic person and a building that is aging well matter more than a new name. Compare Sukhumvit, Thonglor and Ekkamai, Sathorn and Silom and Lumpini and Ploenchit.
• Check tenure. In Central Lumpini, 55% of transactions are leasehold. See freehold vs leasehold.
• Check the quota. A building with its foreign quota nearly full is harder to sell to another foreigner.
• Plan to hold. Resale into an overhang takes time. Do not buy on the assumption of a quick gain.

These are asking prices and market surveys, not valuations, so negotiate from them and take independent advice on any specific unit.