The overall Bangkok condominium market sentiment in Q3 2021 weakened further as the pandemic worsened in Thailand.

There are hopes of some improvement in the condominium market in Q4 after, the Bank of Thailand announced the easing of the loan-to-value (LTV) ratio limit from 70-90% to 100% until the end of 2022. The measure seeks to support increased activities in the real estate sectors, with many developers hopeful of an improvement in 2022.

Condominium developers remain cautious to launch new projects especially in downtown area, where many luxury-segmented or high-value condominium projects were postponed due to the uncertain circumstances, and the high level of unsold inventory in the market.