The head of the CBRE housing sales project in Thailand, said that prices for apartments in the city center are not expected to rise this year due to an excess of unsold stocks and stagnating purchasing power, despite high construction costs for upcoming apartment launches. In addition, the pandemic has brought development to a halt, which has reduced margins for developers who can set competitive prices to sell unsold units. The target market for these apartments are Thai locals, whose purchasing power has not grown since the pandemic. Thus, the restoration of new launches in the city center will be gradual, and only a small number of launches are expected in the second half of the year.