6 June 2024

The prices of new houses and condominium units in and around Bangkok have steadily been risen in the past two quarters of the year, due to higher land prices, increasing prices of construction materials and higher labour costs, according to Wichai Wiratkaphan, acting director of the Real Estate Information Centre of the Government Housing Bank.

The price index comparison of houses built in 2021 and last year in the second quarter is equivalent to 129.7, up 1.9.

The prices of single houses in Bangkok, Nonthaburi, Pathum Thani and Samut Prakan for the second quarter have increased significantly, with a price index of 129.1, up 2.5 over the index of the same period last year.

The price index for townhouses for the second quarter is equivalent to 129.9, up 0.8 year on year.  Wichai said the prices of townhouses are still rising.

As for new condominium units, the price index for the second quarter is equivalent to 155.1, up 2.2 year-on-year, up 0.3 from the first quarter, and there is a tendency that the index will continue to increase.

The prices of condominium units in Bangkok’s neighbouring provinces, however, such as Nonthaburi, Pathum Thani and Samut Prakan, have fallen for three quarters in a row, since the fourth quarter of last year, as most of the units have been on sale since 2021. Also, the project developers have been offering discounts to drive sales.

The price index of new condominium units in Bangkok, for the second quarter, is equivalent to 158.4, up 3.1 year-on-year,while the price index for new condominium units in Bangkok’s three neighbouring provinces is equivalent to 141.1, down 1.6 year-on-year, down 0.3 from the first quarter.