In April 2025, the number of newly launched real estate in the Bangkok Metropolitan Region might fall by Half of the record of 20 years. In April 2025, there was only 10 new projects launched resulting in a decrease in the number of units sold and project values, but the average selling price per unit still increased.
The lowest number of new launches in April may be due to the long holiday month and the earthquake at the end of March, which caused developers to delay new launches this month, especially condominiums which were directly affected by the earthquake.
Therefore, there was no new launching this month. The launches this month were in the residential group, with a total of 10 projects, with a total of 688 new launch units and a total project development value of only 12,506 million baht.
The number of new real estate launches this month totalled 688 units, down 2,836 units from the previous month (March 2025 had 3,524 units) or a decrease of approximately 80.5%.
In this month, 88% of new project launches were still from large operators and affiliated companies that held the largest market share, focusing mainly on the development of medium- to high-priced horizontal residential properties.
Real estate development
The type with the highest development value is single houses at 11,459 million baht (91.6%), followed by twin houses at 780 million baht (6.2%), and in third place is commercial buildings at 158 million baht (1.3%) of the total development value, respectively.
Therefore, the overall picture of real estate development this month, for the most part, if it is a single house, will focus on the price level of 10 million baht and up, while twin houses and townhouses are mainly priced at 5-10 million baht, with an emphasis on the target group with high purchasing power and not affected by the economic slowdown.
In April, the number of projects, sales units, and project value decreased, but the average price per unit continued to increase, as it was mainly the production of horizontal projects with moderate to high prices to high prices. As a result, the average selling price per unit increased from the previous month, which increased by approximately 205% when compared to the average selling price of the previous month.
The average selling price per unit this month was approximately 18.178 million baht, but the average selling price last month was 5.961 million baht, which shows the trend of residential development this month that focuses on high-income earners who want to buy for living, who want horizontal houses located in the middle city and adjacent to the city, which can conveniently travel to inner Bangkok.
Bangkok earthquake
On April 28, 2025 (one day), the Agency for Real Estate Affairs collected data from 37 condominium projects with buildings taller than 20 stories, all of which are still on sale in areas of Bangkok directly affected by the earthquake. The goal was to assess the sales performance for April 2025, whether sales were still occurring. These 37 projects collectively had 7,783 units for sale.
In April alone, 77 high-rise condominium units were sold out of the total of 7,783 units. If projected over the full 30 days of April, assuming holidays do not heavily distort the data, one might estimate about 100 units sold in that month, about 1.3% of the total supply. In contrast, during the first three months of 2025, those 37 projects sold 397 units, or 4.9% of total units, averaging 1.6% per month.
Therefore, although the earthquake had some impact, the drop in monthly sales (from 1.6% to 1.3%) was not statistically significant.
When considering the entrepreneurs launching new projects this month, there are 4 companies in the Stock Exchange of Thailand: AP (Thailand) Public Company Limited, Britannia Public Company Limited, Sansiri Public Company Limited, and SC Asset Corporation Public Company Limited, respectively.
New projects launched
In addition, there are several general companies. If comparing the development between companies in the Stock Exchange of Thailand, affiliated companies, and general companies,
In terms of location, it was found that this month, there were no new projects launched in inner Bangkok. Instead, 8 projects were located in the city extension (Intermediate area) such as Bang Sue, Vibhavadi, Don Mueang, Bearing, Srinakarin-Romklao, Pracha Uthit, and Phutthamonthon Sai 1.
In addition, there were 2 more projects in the outer city area, which is a residential community area that is convenient for travelling into the city and near Talad Thai, such as Rangsit-Nakhon Nayok.
If we consider the number of all types of real estate launched in April of this year compared to the same month last year, we will find that this year there are 9 fewer new projects launched than last year, with a decrease of 3,412 units for sale or -83.2% (last year there were 4,100 units ) and a decrease of 9,865 million baht or -44.1% in value ( last year there were 22,371 million baht).
Low-cost housing units
When comparing the number of new projects launched in the first 4 months of 2025, there were 65 new projects launched in total, 55 projects less than the first 4 months of 2024, or a decrease of -45.8% (the first 4 months of 2024 had a total of 120 projects).
The project value in the first 4 months of 2025 was 62,827 million baht, a decrease of 61,017 million baht or a decrease of -49.3% (the first 4 months of 2024 had a total value of 123,844 million baht). The total number of sales units in the first 4 months of 2025 was 10,580 units , a decrease of 10,087 units or a decrease of -48.8% (the first 4 months of 2024 had a total of 20,667 units ), respectively.
It is expected that in 2025, the total value of new project launches will be 248,795 million baht, totalling 43,623 units, which is considered a significant decrease from 2024. In 2024, the total value of launches was 413,773 million baht, equivalent to a value reduction of only 59% of the previous year. As for the number of units in 2024, there were 61,453 launches, a decrease of only 71% from the previous year, indicating that the national economy is in a significant decline.
However, it is expected that by mid-2025, there may be a lot of low-cost housing units (mostly condominiums) priced at Baht 1.5 million and below launched into the markets. These are products with the support of the Board of Investment.
Therefore, eventually, the number of units launched in 2025 might not be felt by half as forecasted. The total supplies in 2025 might be only somewhat 10% lower than those in 2024 or similar to the supplies in 2024.
