The first half of 2025 was marked by a significant slowdown in the Thai condominium market, as evidenced by the lack of new project launches by major listed developers. Companies such as Sansiri, Sena, Major Development, and SC Asset deliberately delayed the launch of new projects, despite their completion. Knight Frank analysts attribute this trend to declining buyer confidence and stricter bank lending policies. The high inventory of unsold apartments, coupled with the slow pace of sales, exacerbates the situation, forcing developers to exercise caution.
Despite the overall cooling of the primary housing market, the secondary market and distressed apartment segment offer interesting opportunities. Discounts of 30-40% make these properties attractive to investors seeking profitable investments. A case in point was the successful closing of a 108 million baht property in the prestigious One Bangkok residential complex, highlighting the continued interest in luxury, well-managed projects at reasonable prices.
At the same time, the detached home market is showing resilience. Demand is highest for homes in the 5 to 10 million baht price range, driven by banks' willingness to lend and the activity of young buyers seeking long-term residences. However, sales are slowing in the luxury home segment priced over 20 million baht. Potential buyers in this category prefer to await greater political and economic stability before making such significant financial decisions.