Startling: What's the average Cost of a Bangkok Condo in 2023

You're here to compare the average condo prices in Bangkok, you're in the right place. Join us as we uncover Bangkok condo prices. Let's dive right in and explore the average condo prices in Bangkok depending on location and size. And as if that's not enough, we'll also leave you showcasing the hottest condo developments in Bangkok of 2023. It's time to turn your dream of owning a condo in Bangkok into a reality. Let's get started!

The Current Market Prices for Condos in Bangkok

Bangkok is renowned for its diverse range of condos catering to a variety of lifestyles and budgets. The cost of these condos is dependent on various factors such as location, amenities, size, and views. Central areas such as Siam, Chit Lom, and Sukhumvit with closer proximity to the city center tend to be pricier, estimated at around ฿50,000 per square meter. Luxury condos in the same locations cost up to ฿150,000 per square meter. Studio condos cost approximately ฿2 million and a 3-bedroom condo can go up to ฿50 million. 

In the first half of 2023, the average condo price in Bangkok stood at ฿10,622,274. Let's delve into the specific areas and their average costs for 1-bedroom (1BR), 2-bedroom (2BR), and 3-bedroom (3BR) condos.

For 1BR condos, the average price of ฿10,559,492 is popular in locations around Sukhumvit, including Phra Khanong, Asoke, Wattana, and Bang Na.

Moving on to 2BR condos, the average price is ฿10,538,936. These units are predominantly found in areas such as Rama 9 and Khlong Toei, situated just around the outer ring of the city center rather than in the heart of the city.

For 3BR condos, the average price is around ฿10,119,720. These units are mainly located in the city center, with a significant focus on the resale market.

Compare Bangkok Condo average price by segments

Bangkok condos are available in many types. Comparing all types of condo from the luxury segment to the low-market segments. The information below assists you to make the decision when buying a condo in Bangkok.

According to Fazwaz data for the first half of 2023, a Bangkok condo for sale median sales price is at  ฿5,760,000, making it an attractive option for buyers. The average price per square meter is around ฿148,000, providing a benchmark for assessing value. With a staggering number of choices, as many as 15,888 condos for sale across various areas of Bangkok for you to buy your new home.

The pricing of condos in Bangkok influence by factors such as size and the number of bedrooms. Studio condos in Bangkok average price of ฿3,270,000. 

If a bit more room is desired, a one-bedroom condo averages around ฿5,510,000. 

Those in need of additional space purchase a two-bedroom condo, with an average price of ฿13,400,000. 

Luxurious and spacious living, a three-bedroom condo boasts an average price of ฿32,400,000. 

Finally, for those with desire for luxury, a four-bedroom condo is available at an average price of ฿51,100,000. These pricing insights provide valuable information for prospective buyers in their search for the perfect Bangkok condo.

These types of condos are considered worthwhile for the following reasons:

• They are located in good areas with excellent amenities and infrastructure.
• They are well-constructed and well-maintained.
• They provide a good return on investment through rental income.
• They have the potential for value appreciation.

Bangkok Condo Average Cost to Buy 

The projected average cost of a Bangkok condo for sale in 2023 is expected to reach ฿60,000 per square meter, reflecting the growing demand and improving the economy of the city. 

Supply and demand are the main drivers of condo prices in Bangkok. When there are more condos available than buyers, prices decrease, while a higher demand with limited supply leads to price increases. Factors such as neighborhood potential, convenience, accessibility, and upcoming condo projects impact the dynamics. Areas with high demand and limited land, like Siam, Chit Lom, Phrom Phong, On Nut offer promising opportunities for price appreciation. Understanding these factors helps in making informed decisions for condo purchases in Bangkok.

Factors affecting Bangkok Condo price

The cost of a condo in Bangkok is shaped by several crucial factors. Firstly, location matters as condos situated closer to the city center tend to be pricier due to the convenient access to public transportation and availability of more amenities. Such central condos tend to have desirable views and high-end features. 

Secondly, the size of the condo influences cost, with larger spaces offering more amenities. Thirdly, the development of the condo is a factor, with luxury projects generally commanding higher prices than budget-friendly ones. 

Finally, the features offered by a condo, such as views of the river or city skyline, and access to swimming pools or gyms, can also drive up the price. When considering a condo purchase in Bangkok, it is important to weigh these factors to determine the best fit for your needs.

Moreover, the interest rates set by the Bank of Thailand have a significant impact on Bangkok condo prices. Low rates make borrowing more affordable, driving up demand and prices. Conversely, rising rates can decrease demand and lead to lower prices. The current low rate of 0.50% has contributed to increased demand and rapid price growth, but potential future rate increases may impact the market.

The price of freehold homes also affects condo prices, as rising freehold prices lead to higher demand for more affordable condo alternatives.

Maintenance fees influence affordability, and higher fees can lower prices. Effective management of a condo building, reflected in a healthy reserve fund, can increase its value.

Lastly, geopolitical tensions, trade policies, and tax regulation changes can also affect prices. Observing these factors closely is crucial to better understand their potential impact on 2023 prices. Although predicting future price changes is challenging, analyzing economic and geopolitical factors can aid in informed projections.

Top condo units

There are top 3 condos in Bangkok to purchase. Depends on past homebuyers trends and deals from FazWaz.

1. Noble Form Thonglor: The high-rise condominium project with 546 residential units. Enjoy luxurious amenities like the Sky Lagoon Swimming Pool, Sky Garden with "All Day Activities," The Lounge & The Library, and more. Located in Thong Lo, Noble Form Thonglor is close to hotspots like J Avenue, 72 Courtyard, and The Commons. With easy access to major roads and train stations, commuting is a breeze. The condos are designed for comfort. Own a studio condo here, starting at 7.3 million Thai baht.  
   
   
2. Origin Plug and Play Ramkhamhaeng Triple Station: This future high-rise condo offers 482 exclusive units. Each floor has only 25 double-story rooms with a 4.2-meter ceiling height. Enjoy wide views and useful workspaces. The property includes numerous facilities like a pool, gardens, a gym, and 24-hour security. It's located in a future hub with easy road access and a future train station. Buy a one-bedroom unit for 3 million baht. 
   
   
3. Metro Luxe Rama 4: One of the best low-rise condominium projects in Bangkok comes with 8 floors and 478 residential units. The condos boast amenities like an outdoor pool and a gym. It's near many conveniences and the Ekkamai BTS station. One-bedroom condos start at 3.2 million baht, and two-bedrooms at 5.9 million baht.

Conclusion

According to the first half of 2023, average condo prices in Bangkok were as follows: 1BR - 10,559,492 baht (locations around Sukhumvit and Bang Na), 2BR - 10,538,936 baht (Rama 9, Khlong Toei), and 3BR - 10,119,720 baht (mainly in the city center and resale market). 

If you're interested in famous condo developments in Bangkok, you might want to check out Noble Form Thonglor, Origin Plug and Play Ramkhamhaeng Triple Station, and Metro Luxe Rama 4. But with so many options available, how do you find the right fit? The answer is simple: research and gather information, compare options, and understand the market. With careful consideration, you can find a condo that matches your needs and offers a comfortable living experience in Bangkok. So why not start your search today and find your perfect home in this vibrant city?

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