Condo market now driven by end users

Rental investors still play a role

- KANANA KATHARANGSIPORN

Condo purchases in Bangkok are being propelled by end users and rental investors targeting working professionals with units priced 3-5 million baht, as negotiable pricing remains essential to closing deals, according to SET-listed developer Sansiri.

Samatkom Tangvivat, the company’s assistant executive vice-president of project development for high-rise, said most condo sales in recent months were ready-to-transfer units.

“The most active group consists of end users buying condos for work-related living in those areas,’ he said.

“They typically purchase at 130,000-150,000 baht per square metre, or about 3-5 million baht per unit, as these are essential home purchases.”

Investment buyers have also been active over the past 2-3 months, said Mr Samatkom, targeting units for rental to people seeking accommodation near a workplace or in a convenient location, particularly those unable to secure mortgages due to stricter lending and repayment capacity constraints.

“Buyers no longer purchase off-plan units for future transfer, while speculators flipping booking contracts vanished before the pandemic,” he said.

“Today's market consists only of genuine end users.”