Average prices for new and resale condo supply are projected to continue falling this year as the glut of unsold condos is overwhelming, with new units added to the stockpile.
Nalinrat Chareonsuphong, managing director of consultant Nexus Property Marketing Co, said average prices of new condo supply being launched in Greater Bangkok this year would decrease by 5%.
“New condo supply will remain low this year, with around 33,000 unsold condo units being completed that will add to unsold stock,” she said.
The average prices of resale condo units should also decline, feeling pressure from newly-completed condo units this year, with prices dipping to levels last seen a few years…
