_480x320.jpg)
Low-rise private housing, such as houses and townhouses, has been in high demand in the Bangkok real estate market over the previous two years. Condominiums are currently, however, beginning to acquire popularity. The country's capital has seen the launch of several new condominium developments. As more individuals return to their offices and Thailand completely reopens to foreigners, this tendency is expected to grow.
In the first quarter of the year, the market became very active due to two positive factors. First, the loan-to-value ratio [LTV] for mortgage lending declined in October. Second, the opening of the country on November 1, 2021. The situation became even better when PCR testing on arrival for vaccinated travellers was cancelled from May 1.
In the first quarter of 2022, 16 new condominium projects were launched in Bangkok. In all, there are a total of 14,088 units. This is the highest rate since the fourth quarter of 2019. Sales of new condominium projects have also been promising in Bangkok. According to a consulting company, this figure was 62% in the first quarter of 2022. This is the highest rate since 2018.