According to data revealed by local Thai media, the supply of online listings for rent for sale across Bangkok increased by 19.1 per cent in the second quarter of 2023, compared to the previous quarter.

The total number of properties listed for sale reached 43,370, with a total value of about 260 billion baht (approximately 53.5 billion yuan), an increase of 27.4 per cent from the previous quarter.

However, compared to the same period last year, both the number and value declined.

The total number of properties listed for rent, on the other hand, reached 18,850 units, up 27.5 per cent from a year earlier, with a total value of about 6.35 billion baht (about Rmb1.3 billion), up 25.1 per cent from a year earlier.

In Bangkok's 33 districts, the number of properties listed for sale increased by 40-60 per cent in Bangkok city, with the bulk of them being condominium projects.

Used condominiums listed for sale accounted for 90.6 per cent of the total number of homes and are still growing year-on-year.

Reflecting the fact that supply in the condominium market may now be exceeding demand.

The top five areas in Bangkok City in terms of the number of second-hand homes listed for sale are, in order, the old CBD areas of Watanna, Klongdeoe, and Bangrat, as well as the new CBD Splendid and zaduza areas.

In these five areas, the percentage of condominiums for sale is as high as 99.8 per cent!

While villas for sale are mainly in areas on the outskirts of Bangkok, such as Bangkapi, Sai Mai and Khlong Sam Wa districts.

The second-hand market for single-family houses in the 5-10 million baht range, grew by 2.7 per cent, while those in the 3-5 million baht range, fell by 1.5 per cent.

Three-storey townhouses grew by 4.1 per cent, while two-storey townhouses declined by 2.1 per cent.

As for the condominium market, the average price of a one-bedroom sale increased by 3.4 per cent for low-rise condominiums and declined by 0.3 per cent for two-bedrooms, while the average price of a one-bedroom sale for high-rise condominiums increased by 1.8 per cent for one-bedrooms and 0.9 per cent for two-bedrooms.

The number of buyers versus renters was actually 3:1, with 73.2 per cent buying viewings and 26.8 per cent renting viewings, according to online log-in data from demand-side customers.

The three most interesting market areas for single-family homes for local consumers are distributed in the areas of Sai Mai, Klong samwa and Bang Khun Thian.

Sai Mai, Prawet and Khlong Sam Wa, on the other hand, are the areas where locals browse the most used townhouses for sale.

For the condominium market, Chatuchak, Bangkapi and Huai Khwang districts, received the highest attention from consumers.

In the second quarter, the top three areas visited by renters for condo rentals were Bangna, Huai Khwang and Chatuchak districts.