Greater Bangkok’s residential market saw a downturn in the final quarter of last year, with new units sold shrinking by 14.5% compared to the previous year. This contributed to an overall annual decline of 22.5%, as reported by the Real Estate Information Center (REIC).
Vichai Viratkapan, the acting director-general of the centre, attributed this to a mismatch between supply and demand. The supply saw a 13% surge year-on-year, with 31,363 units valued at 240 billion baht, marking a 49% increase. On the flip side, demand dipped by 14.5%, resulting in the sale of 18,208 units worth 94.8 billion baht, representing a 19% decrease., said Vichai.
“This imbalance resulted in a 13.7% increase in the volume of unsold units, the highest year-on-year rise in four quarters, with a total of 209,894 units valued at around 1.17 trillion baht, indicating a…
