At the beginning of 2022, new condominium projects were launched in Bangkok, we recall that before that, for 2 years, the market was practically frozen. This trend is expected to continue as Thailand fully opens up to tourists and companies return from remote work to offices.
In the first quarter, the market was stimulated by two main factors: a mortgage without a down payment and the opening of the country on November 1, 2021.
In the first quarter of 2022, 16 new condominium projects were launched, with a total of 14,088 apartments. This is the highest figure since the fourth quarter of 2019.
The sales level of new condominium projects in Bangkok was also promising. According to the consulting company, in the first quarter of 2022, this figure was 62%, which is the highest since 2018.
This information confirms an earlier report by experts, which showed that domestic demand for apartments in Bangkok increased by 27.7% in the period from the fourth quarter of last year to the first quarter of 2022. An interesting trend is the increase in demand for real estate away from the center of Bangkok.