The Dot Property Group Bangkok Condo Market Report Q1 is available for download today! Click here for your copy.
Rental demand for Bangkok condos increased in the first quarter of this year in a sign more people are returning to the city. Many companies resumed in-office work during the second half of 2021 which has contributed to the steady increase in interest over the past two quarters.
Research from Dot Property Group found that Bangkok condo rental demand increased by 20.9 percent between the fourth quarter of 2021 and the first quarter of this year. Interest peaked in March which recorded the highest number of inquiries over the past six months.
Studio/1-bedroom units were the most sought after. These rentals made up 53 percent of all inquiries to Dot Property Group’s network of websites between October 2021 and March 2022. Demand for 2-bedroom condos reached 34.5 percent over the same period.
Rental demand for Bangkok condos was strongest in Greater Sukhumvit with 42.2 percent of all enquiries being made for units in this area. The Bangkok CBD had the second most demand at 11 percent with Central Bangkok close behind at 10.9 percent.
More than 70 percent of all inquiries made during October 2021 and March 2022 were for condo units in the Bangkok core. This area has the most robust transport options at the moment, but this will be changing in the coming years.
Several new MRT and SRT public transport lines began operations. This could open up the potential of new condo rental areas in Bangkok moving forward. With suburban districts in Bangkok’s eastern and northern areas seeing more supply coming online, this could support location diversification of the rental market.
However, it remains to be seen if these areas will be desirable to rental tenants. For instance, Sukhumvit is popular for its convenience as well as the lifestyle and entertainment options on offer.
The Dot Property Group Bangkok Condo Market Report Q1 is available for download today! Click here for your copy.