The second quarter of this year witnessed a significant slump in sales for newly launched condominiums in Bangkok. Buyers, gripped by mortgage rejection fears, exhibited a strong preference for ready-to-transfer units.
Tritecha Tangmatitham, Managing Director at Supalai, highlighted that a staggering 70% of condo sales in the current year have been for completed units, underscoring a marked shift in consumer behaviour precipitated by the pandemic.
Tritecha expounded on this shift, attributing it to apprehensions regarding mortgage loan approvals for presale condos. The looming spectre of loan rejection weighed heavily on potential buyers, thus driving them towards units ready for transfer.
Remarkably, before the pandemic, sales of ready-to-transfer units accounted for a modest 20-30% of total condo sales. However, last year witnessed an…
