Bangkok Apartment Market Records 5.42% CAGR

From 2011 to 2024, Bangkok’s condominium market grew at a compound annual rate of 5.42%, reflecting consistent year-on-year expansion. This growth has been supported by the city’s infrastructure development, rising tourism demand, and global connectivity through Suvarnabhumi and Don Mueang International Airports.

Source: Bank of Thailand

The rental market has also grown steadily and remains primarily characterized by long-term contracts. Approximately 90% of all rental demand is for long-term leases, defined as contracts of one year or longer, which is significantly higher than resort markets such as Phuket, where around 50% of rental demand is long-term.

As domestic credit conditions tighten, residential properties priced above THB10 million (USD300,000) continue to see steady demand. Developers and agents report that the strongest buyer interest is concentrated in the THB10–20 million (USD300,000–600,000) price segment.

Looking ahead, we expect key residential districts such as Bangna, Rama 9, and Ratchaphruek to experience steady buyer demand. These locations are well-suited for full-time living and offer a lower price per square meter compared with central Bangkok areas such as Sathorn and Sukhumvit.