Q3 condo prices track close to 2015 levels

New condo projects launched in the third quarter of 2025 have been priced at levels similar to those introduced a decade ago, as developers squeezed margins to cope with weaker purchasing power, according to the Thai Condominium Association.

- KANANA KATHARANGSIPORN

Prasert Taedullayasatit, the association's president, said some developers resumed launches in the third quarter after freezing new condo projects during the first six months.

"The issue is their selling prices are comparable to those a decade ago," he said. "Developers who once enjoyed margins of up to 30% have now cut them by half just to secure sales."

Mr Prasert said a recently launched condo project in the Rama IV area was priced at 120,000 baht per square metre, compared with more than 150,000 baht per sq m at previous launches nearby.

Meanwhile, a newly launched project in the Tha Phra area was offered for 60,000-70,000 baht per sq m, well below the current market average of more than 100,000 baht, he said.

"These new prices are likely to attract investment buyers seeking capital gains upon project completion in the next few years, as well as those willing to wait before moving in," said Mr Prasert.

"For end-users, many ready-tomove-in units are available, which may be priced higher than new projects, but come without the wait."