Reportedly, "The Monument Thonglor" condominium, completed since 2019, has for the first time set a new record in the Thonglor condominium resale market.

Looking at the overall situation of the Thai real estate market, changes in both second-hand condominiums and second-hand properties at various price points are noteworthy.

Recently, according to data from the Real Estate Information Center (REIC), Dr. Wichai Viratkapan, the acting director, pointed out that the "second-hand property market" has significantly expanded since 2022.

Homebuyers have the opportunity to receive discounts on ownership transfer fees and mortgage fees, continuing to enjoy this privilege until 2023.

On the other hand, this may be due to the fact that the locations of new residences are becoming more expensive or are no longer affordable. Meanwhile, purchasing power has not increased, and people are looking for locations that are both close and do not add to the burden of family travel expenses.

Therefore, second-hand properties, being 20%-30% cheaper than new properties in the same location, have become the preferred choice for living, attracting the interest of more homebuyers.

The significance of the second-hand property market is increasingly apparent. It is estimated that around 100,000 properties are located in Bangkok and the surrounding areas, with a total value of approximately 20 billion Thai Baht.

However, attention should be paid to the upcoming new housing units entering the market. According to predictions from real estate research companies, in the fourth quarter of 2023, property developers will accelerate the launch of residential projects in Bangkok and the surrounding areas, with an estimated value of around 140-150 billion Thai Baht.