Earthquake Prompts Condo Buyers to Reassess Developer Credibility
Bangkok's high-rise condo market experiences increased caution among buyers following recent earthquake, with focus on developer responsibility and crisis response
Condo buyers in Bangkok have become more cautious when selecting developers, prioritizing those that demonstrate responsible actions and effective crisis response.
The recent earthquake has raised safety concerns in the high-rise condo market, prompting consumers to reassess the market with greater depth and caution.
Developers that responded quickly to the quake by inspecting structures, enhancing safety, and offering emotional support have stood out, while slow or dismissive responses have damaged trust and are expected to affect future buying decisions.
The impact of the earthquake is expected to be evident on the demand side, particularly for high-rise condos, with buyers now prioritizing construction quality, structural safety, brand credibility, and transparency.
Colliers expects a significant drop in newly sold units due to heightened consumer caution, with the sales rate of new condo launches in Bangkok predicted to drop below 30% in the second quarter of 2025. In the first quarter of 2025, new condo supply launched in Bangkok rose 72.1% year-on-year to 5,656 units worth 19.8 billion baht, with 87% introduced by listed developers.
Despite the increase in supply, average sales rates during launch periods remained low at 37%, with sales limited to certain locations and projects with unique features performing better.
The recent earthquake has raised safety concerns in the high-rise condo market, prompting consumers to reassess the market with greater depth and caution.
Developers that responded quickly to the quake by inspecting structures, enhancing safety, and offering emotional support have stood out, while slow or dismissive responses have damaged trust and are expected to affect future buying decisions.
The impact of the earthquake is expected to be evident on the demand side, particularly for high-rise condos, with buyers now prioritizing construction quality, structural safety, brand credibility, and transparency.
Colliers expects a significant drop in newly sold units due to heightened consumer caution, with the sales rate of new condo launches in Bangkok predicted to drop below 30% in the second quarter of 2025. In the first quarter of 2025, new condo supply launched in Bangkok rose 72.1% year-on-year to 5,656 units worth 19.8 billion baht, with 87% introduced by listed developers.
Despite the increase in supply, average sales rates during launch periods remained low at 37%, with sales limited to certain locations and projects with unique features performing better.
