The first four months were not remembered by the apartment rental market in Bangkok. However, by June, interest had become much higher than the level of the first quarter and remained at this level for the remainder of 2022 and this year.
At the beginning of 2022, COVID-19 was still persisting with a spike of several cases in December, which temporarily delayed the country's opening. Over the next few months, everything returned to normal: tourists returned to the country. Both undoubtedly caused an increase in interest in renting apartments in Bangkok after Songkran.
Greater Sukhumvit remains the epicenter of Bangkok's condominium rental market, accounting for 41.2% of demand in this area. It is followed by Central Bangkok and Silom, which accounted for 12.8% and 11.1% of condo rental requests last year.
In terms of price, the most popular were condominiums in Bangkok with monthly rents ranging from 10,000 to 20,000 baht. Last year they attracted 36.7% of interest. Condominiums with monthly rents from 20,000 to 50,000 baht collected 33% of demand.
Although demand for condominium rentals in Bangkok has increased in the second half of 2022, it remains a tenant market overall. The oversupply of condominiums in areas such as Greater Sukhumvit gives potential tenants flexibility in negotiations, as they know there is always something else.
In the segment of monthly rentals from 10,000 to 20,000 baht, you can find several apartments in one building in addition to other projects nearby. Without fear of missing out on the benefits, potential tenants often refuse reasonable rental rates in the hope of finding something even cheaper.