Real Estate Information Center (REACH) states that the housing market and purchasing power in Greater Bangkok are being negatively affected, sales volumes are decreasing.
Sales decreased by 2,188 units from the second quarter of 2022, but the value increased by 8.6 billion baht, a total of 126,325 units were sold with a total value of 680.6 billion baht.
The volume of apartments for sale in condominiums is 71,699 apartments with a total value of 304.3 billion baht, which continues to decline from the first quarter of 2022.
The total cost of low-rise housing projects is considered to be the highest since 2018, while condominiums have the lowest total cost since 2018, which led to an increase in the number of unsold housing units at the end of the third quarter.
Among the remaining apartments for sale in the Greater Bangkok area as of the third quarter of 2022, there are 177,763 unsold units worth 871.5 billion baht, which is more than in the second quarter of 2022, by 1,150 units worth 11.8 billion.
It was found that 63,473 units worth 274.6 billion baht remained unsold apartments in condominiums, which is 3,742 units less than in the previous quarter. 114,290 units worth 596.9 billion baht remained unsold low-rise projects, which is 4,892 units more than in the previous quarter.