Cautious developers to cut Bangkok housing launches

New residential supply launched in Greater Bangkok this year is expected to continue to decline after hitting a multi-year low in 2025, as a large amount of inventory remains unsold and developers become more cautious about investment.

- KANANA KATHARANGSIPORN

Mr Prasert says the focus now for developers is liquidity rather than the bottom line.

Prasert Taedullayasatit, president of the Thai Condominium Association, said in 2025 both presale value and new launch value hit a 12-year low due to several factors, particularly the economic slowdown over the past two years.

“Housing has become more difficult to sell because purchasing power has continued to weaken and household debt remains high. Financial institutions have tightened mortgage lending, resulting in slower absorption of supply,” he said.

“New supply launched this year will likely decline further”

According to Mr Prasert, the value of new residential launches in Greater Bangkok last year totalled 294 billion baht, shrinking by 31% from 427 billion in 2024, which fell by 28% from the post-pandemic peak of 592 billion in 2023.

The 2025 figure was the lowest in more than a decade, including the pandemic years of 2020 and 2021, when new launches totalled 394 billion baht and 420 billion, respectively.

New launches were closely tied to presales, which also fell to the lowest level in more than a decade last year at 260 billion baht, down 13% from 300 billion in 2024 and the post-pandemic peak of 430 billion in 2023.

The average annual value of new launches during 2014-25 was 447 billion baht, while average presales tallied 372 billion baht.