Bangkok developers focus on high-end market

Bangkok developers are increasingly focused on the high-end market, as upper-class buyers are less affected by Thailand's slow economic growth.

The number of condominium units launched in the downtown area in the first three months of 2015 increased 143 per cent year-on-year, while the number of launches in the midtown and suburban area dropped 34 per cent year-on-year. This quarter recorded the lowest rate of new launches in the midtown and suburban areas since Q4 2011.

"Despite a weak mass market, record-breaking prices and high sales rates were achieved in some newly launched condominiums in the downtown area," says CBRE. "We believe that the success was limited to projects that matched buyers’ expectations in terms of location, quality, design, and specifications to justify the high asking prices."