The Bangkok condo market slowed in the third quarter of 2023, plunging to its lowest point for supply and demand since the third quarter of 2021, mainly attributed to rising interest rates.
Property consultant Knight Frank Thailand reported new condo supply launched in the third quarter of 2023 totalled 5,367 units, down 45% year-on-year.
The number of units sold during the period was 2,117, a 30% year-on-year decline. Both supply and demand hit their lowest points since the third quarter of 2021, when 2,312 units were launched and 879 units sold.
