Connect with us

Property

14% of condos around Bangkok are empty – good time to buy

Published

 on 

Thaiger deals

Looking for a condo around Bangkok? Now might the right time to take the plunge with the head of the Appraisal and Estate Agents Foundation saying some areas have between 8-14% vacancy rates, some areas of Bangkok up to 17.5%.

Dr Sophon Pornchokchai made the remarks at a news conference yesterday.

“Adding developer price wars, plus inducements to purchase, this represents a buyers’ market.”

He says the figures relate to condos, single houses, townhouses and other dwellings where less than 15 units of electricity were being used, deeming them to be classified as ‘unoccupied’.

Around Bangkok there are 525,889 such vacant properties.

The top three areas for vacancies were Nonthaburi (north west of the central area) with 335,421 available properties with 45,848 unoccupied or 14%. This percentage was also true of Bang Na (south east of Bangkok) with 231,192 properties, 31,289 unoccupied. Bang Yai – to the far north west of the capital – has 221,492 with 28,016 unoccupied or 13%.

Locations with the lowest unoccupied dwellings are Bang Plee (south east) with 8% unoccupied, Min Buri (north) 9% and Lat Krabang (south east) 9%.

Dr Sophon says that when it comes to condos in Bangkok and the surrounding areas, between 13.5% and 17.5% are unoccupied.

“This glut has prompted a selling war with discounts and deals.”

FazWaz‘s CEO Brennan Campbell says that we’re in part of the buying cycle right now that is definitely in the buyer’s favour.

“Long-term, the Bangkok market continues to show its strength, but there is definitely an enormous range of property to choose from, in almost every location, right now. The current dip in demand is just part of the cycle.”

SOURCE: Daily News

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Follow Thaiger by email:

Thailand42 mins ago

Firework maker killed in firework accident in eastern Thailand

Thailand43 mins ago

Lao star swindled by Thai celebrity, more than 500 million baht lost

Thailand1 hour ago

Father chains up daughter and forces her to return to abusive husband

Sponsored2 hours ago

Top 5 Backlink Agencies in Bangkok for Your Business

China2 hours ago

China mulls downgrading Covid-19 status as protests continue

Business2 hours ago

Tesla to launch in Thailand this month

Apple2 hours ago

Two women sue Apple saying AirTag product gives stalkers access to their whereabouts

Join the conversation on the Thaiger Talk forums today!
Thailand2 hours ago

Electioneering: Thaksin’s daughter vows to end poverty in Thailand

Thailand3 hours ago

Thai travel agent group says travel restrictions hamper tourism growth

Hot News3 hours ago

Thailand pushes for more international flights as tourism surges

Crime3 hours ago

Man stabs passersby in Bangkok, 1 killed 1 injured

Thailand5 hours ago

VIDEO: Shit hits the fan as man attacks friend for mocking him in a leaked sex tape

Indonesia6 hours ago

Thailand teaches Indonesia how to legalise cannabis

Expats6 hours ago

A British musician bangs drums of discontent after breaking leg in Thailand

Thailand6 hours ago

Thailand to celebrate its 10 millionth tourist on December 10

Cannabis News7 hours ago

Homeowner beats cannabis thief to death in northeast Thailand

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending