Bangkok condo sellers slash prices as listings sit 30% longer

The Bangkok condo market is taking longer to clear. Residential listings that would have found buyers within six to eight weeks in 2024 are now sitting for three to five months before transaction, according to aggregated listing data tracked across major Thai property portals including DDproperty and Fazwaz. The shift is sharpest in the 3-8 million baht segment, the band that captures most first-time and upgrade buyers, where vendor discounting from original asking price has widened to an estimated 7-12 percent in several districts.

The timing matters because Thailand's property sector is approaching the back half of a year in which the Bank of Thailand held its benchmark policy rate steady, mortgage lending conditions have tightened at several commercial banks, and household debt nationally remains elevated. Those three forces together are suppressing the pool of qualified buyers, giving sellers less leverage than they had twelve months ago.

Thonglor Softens, On Nut Stalls

Thonglor, Bangkok's most closely watched luxury corridor along Sukhumvit Soi 55, has not been immune. Asking prices for resale units in that neighbourhood cluster around 180,000-220,000 baht per square metre, well above the Bangkok city average of roughly 120,000 baht per square metre. But agents operating in the area report a backlog of listings that have been relisted at least once after failing to attract offers, a pattern visible in the date-stamp histories on DDproperty as recently as June 2026. Discounts on Thonglor resales have moved from negligible to meaningful, with some units trimmed by 5-8 percent before finding a buyer.

On Nut, which built a reputation through 2022 and 2023 as a rising-value corridor anchored by BTS On Nut station and the BITEC exhibition centre catchment, is showing a sharper deceleration. The neighbourhood attracted significant developer launches in 2021-2023, and that supply pipeline is now maturing into a resale market competing directly with new-project inventory. Average days on market for resale condos within 500 metres of BTS On Nut has stretched toward 120 days, compared with under 60 days at the height of 2024's brief post-pandemic uptick, based on listing analytics compiled by property research firm CBRE Thailand for Q1 2026.

The Discount Calculation Facing Sellers

Vendor psychology is shifting. Owners who bought during the 2018-2020 launch cycle at pre-sale prices are still sitting on nominal gains, which gives them room to negotiate. Those who bought resale in 2023 or 2024 at elevated prices have a narrower margin and are more likely to hold firm, contributing to a bifurcated market where some units discount quickly and others simply stay listed indefinitely.

Ari, the low-rise neighbourhood north of Phahon Yothin Road that attracted boutique condo development from operators including Sansiri and smaller local developers, is holding up comparatively better. Its scarcity of land for new supply, proximity to BTS Ari, and demographic mix of long-term residents and expatriate renters have kept days-on-market figures closer to 75-90 days. Vendors there are discounting by 3-5 percent rather than the higher rates visible further east.

Foreign buyers, limited to 49 percent of any building's total units under Thai condominium law, remain selective. The pipeline of Chinese investors that briefly animated the Ratchada and Huai Khwang corridors has thinned, and agents at agencies including Knight Frank Thailand have indicated publicly that Japanese and Singaporean buyers are the more active foreign segments in 2026, focused on Sukhumvit and Sathorn rather than secondary locations.

Sellers facing a long listing period have a few practical options. Dropping the price in a single visible cut, rather than incremental trims that telegraph desperation, tends to reset buyer interest more effectively. Listing on multiple Thai-language platforms alongside English-language portals widens the net. And owners whose units are tenanted should be prepared to offer vacant possession, since most end-user buyers are unwilling to wait out a lease. The market is not broken, but it is patient, and patience right now belongs to the buyer, not the vendor.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.