Thailand's house prices rose by 2.3% y-o-y in Q1 2019

Nationwide house prices rose by 2.3% during the year to Q1 2019, down from y-o-y rises of 3.58% in Q4 2018, 5.13% in Q3, 5.01% in Q2 and 6.1% in Q1. House prices increased by 1.68% q-o-q during the latest quarter.

 

 

Demand rising, supply declining

During the first two months of 2019, nationwide land and building transactions rose by 3.8% y-o-y to about THB 156.22 billion (US$ 4.89 billion), following a 7.7% increase in 2018, according to the Bank of Thailand (BoT). Likewise, property credit outstanding also increased 8.8% y-o-y to THB 5.92 trillion (US$ 185.36 billion) in Jan-Feb 2019, after a 6.4% growth in 2018. 

In contrast, residential construction activity is now falling. Nationwide condominium registrations fell sharply by 40.5% to 11,858 units in the first two months of 2019 compared to a year earlier, according to BoT.

Rents, rental yields: yields are good in Bangkok at 8.05%

Bangkok apartment costs are moderate, at around $3,638 per sq. m. 

Thailand: typical city centre apartment buying price, monthly rent (120 sq. m)
  Buying price Rate per month Yield
Bangkok $436,56 $1,837 8.05%

Recent news. Thailand’s economy expanded by 2.8% y-o-y in Q1 2019, down from last year’s 3.6% growth and the slowest expansion in four years, mainly due to slowing exports caused by the U.S.-China trade war, according to the National Economic and Social Development Board. Recently, the government reduced its 2019 economic growth forecast to between 3.3% and 3.8%, from the initial projection of 3.5% to 4.5%, amidst escalating global trade tensions and domestic political uncertainty following the March 24 general elections.

Subscription required to access this page

Access to premium content and weekly market updates.

Subscribe to Global Property Guide

Get the data behind 60+ countries for $9.99 per month.
Latest Market Reports
Rental Yields
House Price Indices
Square Metre Prices
Tax and Buying Guides