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5 Apr 2024

Econ Digest

The residential market in the Bangkok Metropolitan Area is expected to contract for the second consecutive year in 2024

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The residential market in the Bangkok Metropolitan Area is expected to contract for the second consecutive year in 2024
  • Due to weak demand and fragile purchasing power, as well as the highest number of unsold residential units in 29 years, KResearch projects that the number of new housing projects launched in the Bangkok Metropolitan Area will decline by more than 19%YoY in 2024, which will be the second consecutive year of contraction.
  • For the remainder of 2024, attention must be paid to the timing and details of government policies such as financial schemes and tax measures aimed at stabilizing the residential market.
  • KResearch therefore views that the number of new housing projects launched in the Bangkok Metropolitan Area is likely to continue to shrink for the second consecutive year in 2024, as business operators will monitor economic trends and government measures. For the remainder of 2024, attention must be paid to the timing and details of government policies such as financial schemes and tax measures aimed at stabilizing the residential market.

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