Bangkok condominium market will continue to slow down mainly due to Thailand’s weakened economic and the new LTV measures that came into effect on 1st April 2019. Majority of listed-developers reported the declines on net profit Y-o-Y, while price discounts and promotional campaigns are offering to buyers across both downtown and midtown area of Bangkok.
The number of foreign buyers, including Chinese, will decrease from Thai baht appreciation along with global economic slowdown. The weakened of Chinese Yuan currency from the ongoing US-China trade war and tighter capital controls from Chinese government on getting money out of China have directly affect the Chinese demand on condominium unit in Thailand. Instead, developers are focusing more on domestic demand that are end-users with a support from the Bank of Thailand that cut down interest rate from 1.75% to 1.5%. Uncertainty remains for how many of the off-plan sales for project under-construction will be successfully transferred upon the completion.