Bangkok Condominium Sales Rose 19.5% in Q2 While House Sales Fell 11.4%

Condominium sales in the Bangkok region rose 19.5% in the second quarter while house sales fell 11.4%. Unsold stock fell 10.2% to 202,414 units.

Condominium sales in Bangkok and its five neighbouring provinces rose 19.5% year on year in the second quarter of 2026, while sales of low-rise houses and townhouses fell 11.4%. Unsold stock across the region dropped to 202,414 units, 10.2% fewer than a year earlier. The Real Estate Information Center, the research arm of the state-owned Government Housing Bank of Thailand, published the quarterly picture on 22 September 2026.

Two markets inside one market

Taken together, new sales rose 2.6% in units and 8.6% in value, so the average transaction was worth more than a year ago. The split beneath that average is what matters. Condominiums absorbed 2.4% of available stock a month; low-rise houses managed 1.4%. At those rates the condominium overhang clears in roughly 39 months and the low-rise overhang in about 67. The regional average is 1.8% a month, or around 52 months.

Fifty-two months is more than four years of inventory. For scale, the region carried 214,083 units on the market during the quarter, worth 1,356,788 million baht, or 67.1% of the national market value of 2,022,507 million baht. This is not a peripheral corner of the Thai market; it is most of it.

Supply is falling because developers stopped launching

The 10.2% fall in unsold stock is not the result of a buying spree. New project launches dropped 15.6% in units, and the value of newly launched projects fell 51.9%, so the pipeline more than halved in value in a single year. Townhouse launches fell hardest, at 28.6%.

That is the classic way an overhang clears in a slow market: not by selling faster, but by building less. It is healthier than the alternative, but it also means the 39-month and 67-month figures will improve for reasons that have little to do with demand.

What this means for a foreign buyer

Thailand is one of the few Asian markets where a foreigner can hold the freehold of an apartment outright, within a cap of 49% foreign ownership per building; land remains off-limits. In Bangkok, a one-bedroom condominium currently lists at a median of about USD 125,600, with a median asking rent near USD 760 a month. That works out at a gross rental yield of roughly 7.3%, or about 7.0% once the effective tax on rental income is applied, a wide margin over most European and East Asian capitals.

The counterweight is the queue. A 39-month condominium overhang is a buyer's market in the literal sense: the discount sits in the negotiation rather than in the asking price, and it caps resale pricing power for years rather than months. Nationally, the average residential property transferred in the first half of 2026 changed hands for around USD 77,500 on the same institute's records, which shows how far the Bangkok condominium segment sits above the Thai average.

The number to watch next quarter is not sales growth but launch value. If it stays near half of last year's level, the overhang keeps shrinking on its own. If developers come back, the 52-month clock resets.

Sources: Real Estate Information Center (REIC), Government Housing Bank of Thailand, press release No. 292 on the Bangkok and vicinity housing market in the second quarter of 2026, 22 September 2026 https://www.reic.or.th/Activities/PressRelease/292

Market data: Thailand · Phuket · Chiang Mai · Pattaya