Condo price index up 3.4%

The price index for new condos for sale in Greater Bangkok rose 3.4% year-on-year in the first quarter of 2025, marking the second straight quarter exceeding 3%, driven by rising development costs, according to the Real Estate Information Center (REIC).

- KANANA KATHARANGSIPORN

REIC reported the index tallied 160.4 points, up 3.4% year-on-year and 0.3% quarter-on-quarter, reflecting a rising trend in new condo prices.

This marked the second consecutive quarter with a year-on-year uptick of more than 3% since the pandemic. The last similar trend occurred in late 2019, with the peak exceeding 10% in the first quarter of that year.

The gain in the first quarter of 2025 was attributed to increasing development costs, including higher construction material prices and wages, and rising land prices in prime locations near mass transit lines and the central business district.

In Bangkok, the index reached 163.3 points, up 3.6% year-on-year and 0.4% quarter-on-quarter. The lower Sukhumvit area recorded the highest condo price increase in the 7.51-10-million-baht bracket.