The price index of new condos, single detached houses and townhouses in Greater Bangkok dropped in the third quarter of 2025 as developers offered discounts to stimulate sluggish sales from the previous quarter.
According to the Real Estate Information Center (REIC), the price indices for new condos, single detached houses and townhouses tallied 158.3, 136.3 and 129.1, respectively, down 0.5%, 1% and 0.7% quarter-on-quarter.
The decline in condo prices marked the second consecutive quarter of decreases, driven by rising unsold supply amid slow sales, prompting developers to launch marketing campaigns to clear inventory.
In Bangkok, the condo price index was 161.4, down 0.2% year-on-year and 0.5% quarter-on-quarter.
The sharpest year-on-year drop was in inner Sukhumvit, with units priced between 5.01-7.5 million baht.
In Samut Prakan and Nonthaburi, the index was 144.9, down 2.1% year-on-year and 0.5% quarter-on-quarter, with Muang Nonthaburi-Pak Kret posting the steepest decline for units priced from 1.01-2 million baht.
The indices for new single detached houses and townhouses fell for the first time after rising for four and two consecutive quarters, respectively. The main reason was the same — increasing unsold supply forcing developers to cut prices.
Developers adjusted their pricing strategies to encourage purchasing decisions amid heightened market competition, REIC said.
However, single detached house prices rose 1.8% year-on-year, continuing a steady uptrend since the third quarter of 2022, reflecting sustained momentum in the upper end, partly driven by higher construction costs year-on-year.
In Bangkok, the sharpest year-on-year rise was in Min Buri, Nong Chok, Klong Sam Wa and Lat Krabang for homes priced higher than 10 million baht.
In Nonthaburi, Pathum Thani and Samut Prakan, the highest increase was recorded in Muang Nonthaburi-Pak Kret for homes priced higher than 10 million baht.
The townhouse price index declined by 0.1%, extending a three-quarter downtrend, as developers with older projects slashed prices to stimulate demand and drain stock.
In Bangkok, the largest drop occurred in Bang Khen, Sai Mai, Don Mueang and Laksi, where units priced from 3.01-5 million baht had the steepest decline. In Nonthaburi, Pathum Thani and Samut Prakan, townhouse prices fell the most in Bang Kruai, Bang Yai, Bang Bua Thong and Sai Noi in Nonthaburi, within the same price range.
In the third quarter, condo developers offered more promotional campaigns, with free gifts rising to 44.3% of respondents, up from 39.8% in the previous quarter. The share of developers waiving transfer-day expenses increased to 32.4%, up from 21.4% in the second quarter, but cash discounts declined to 23.3% from 38.8%.
For new low-rise houses, most promotions were free gifts such as air conditioners, water pumps, storage tanks, common area fees or utility meters, accounting for 37.9%. Offers covering transfer-day expenses rose to 35.2%, while cash discounts dropped to 26.8%.