Bangkok's condo market showed signs of resilience in the first quarter of 2026, supported by demand in both luxury and value-driven segments, despite continued price competition and a large supply overhang.
According to property consultancy Colliers Thailand, 9,480 new condo units were launched in Bangkok during the first quarter, a 42.6% year-on-year increase. The surge was primarily driven by several large projects that collectively added more than 4,500 units to the market.
Despite the uptick in new supply, market absorption remained relatively stable. The take-up rate was 67.8% in the period, up 0.42 percentage points from the previous quarter, indicating buyer demand continued to absorb a significant portion of newly launched units.
Colliers said demand remained strongest in the luxury and upper-end segments, particularly projects located in prime areas and developments offering attractive pricing relative to competing projects.
Several luxury projects recorded strong sales shortly after launch, supported by both domestic and international buyers seeking quality developments in strategic locations.
A notable trend in Bangkok's condo market is the expansion of luxury housing beyond the central business district (CBD). While the CBD remains the core location for luxury developments, high-end projects are emerging along mass transit routes outside the city centre.
According to Colliers, these projects offer buyers easier access to rail networks while avoiding the higher land costs associated with central locations.
The eastern fringe accounted for 45% of luxury condominium supply outside the CBD, followed by the northern fringe with 38%.
The city fringe represented 16%, while suburban locations accounted for only 1%, highlighting the concentration of premium developments in areas with strong transport connectivity.
However, competition remains intense. Colliers noted that developers continue to face challenges in raising selling prices due to abundant supply and cautious buyer sentiment amid ongoing economic uncertainties.
The consultancy estimated Bangkok has a cumulative condo inventory of 209,954 units, while total sold units tally 142,325.
Based on historical absorption rates, it could take 6-7 years for existing inventory to be fully absorbed if annual new supply remains below 15,000 units per year, said Colliers.
Major listed developers continue to dominate the market, accounting for more than 85% of new supply launched in 2026, reflecting their stronger financial positions and ability to navigate a challenging market environment.
Looking ahead, Colliers expects the condo market in 2026 to remain highly competitive. Developers are likely to continue relying on pricing incentives, targeted promotions and careful product differentiation to stimulate demand.
Buyer interest is expected to remain focused on projects offering strong value propositions, particularly those located near mass transit lines, while luxury developments in strategic locations are likely to continue attracting affluent local and foreign purchasers.
