Despite the global economic slowdown, Bangkok’s ultra-luxury condo market continues to grow, fuelled by sustained demand from Thailand’s wealthy elite and foreign investors, according to property consultancy Colliers Thailand.
Phattarachai Taweewong, research and communication director at Colliers Thailand, said top-end condos serve as both investment assets and status symbols, offering wealth preservation and long-term capital appreciation.
“Ultra-luxury units are concentrated in prime zones, such as Thong Lor–Phrom Phong–Ekkamai, Wireless–Lang Suan–Lumpini, Sathorn and the Chao Phraya River area, where demand from both local and international buyers remains strong,” he said.
GLOBAL BRANDS RAISE THE BAR
New developments increasingly feature partnerships with global hospitality and design names, such as Aman and Porsche Design, redefining Bangkok’s upper tier.
Large units, often ranging from 300 to over 1,000 square metres, cater to end-users and multi-generational living.
This focus on genuine buyers has helped to maintain stability despite volatile global conditions, said Mr Phattarachai.
The Porsche Design Tower Bangkok set a record last year at 1 million baht per sq m, with penthouses fetching more than 1.4 billion baht each, standing among Asia’s highest prices.
While the mainstream condo sector remains soft, the top segment continues to attract deep-pocketed buyers from Thailand and abroad.
Many view Bangkok as a safe haven comparable with Singapore, Hong Kong and Dubai.
MORE PLAYERS JOIN THE RACE
Mr Phattarachai said Bangkok’s luxury market is evolving into a regional hub. Units priced between 500 million and 1 billion baht continue to sell steadily, supported by both end-user and investment demand.
Listed developers including Sansiri, SC Asset Corporation, Noble Development, Quality Houses, Proud Real Estate and Ananda Development are increasing their presence in the segment. Several new projects are planned for 2026.
Among them are Sansiri’s project on Sarasin Road, Ananda’s luxury tower on Rama IV Road, and an 11-unit condo on Sukhumvit Road.
A joint venture between City Realty and Hong Kong’s Swire Properties also reflects long-term confidence.
Private and family-owned firms are entering the ultra-luxury market, introducing greater design diversity.
New players include CG Capital of the Chirathivat family, 1.6 Development of the Chearavanont family, Nailert Group, and Swiss-backed Helvetic Thai.
“Their boutique projects emphasise architectural identity, privacy and craftsmanship, adding variety to a sector long dominated by listed developers,” Mr Phattarachai said.
STEADY MOMENTUM
Units priced above 300,000 baht per sq m remain limited in supply but resilient in performance. Only 6,600 units, worth about 205 billion baht, have been launched in the past decade.
After the pandemic slump, this segment saw a rebound in 2024 with nearly 1,000 new units. Colliers expects momentum to continue, with more than 1,000 units forecast in 2025–26, mainly from large developers.
Three projects will headline in late 2025: Still Sukhumvit by SC and Tokyo Tatemono; InterContinental Residences Bangkok Asoke by CG Capital; and Upper House and The Wireless Residences by City Dynamic.
CORE LOCATIONS DOMINATE
Over 80% of ultra-luxury supply sits in central districts, including Sukhumvit, Thong Lor, Chidlom and Sathorn, where proximity to mass transit, dining, retail and healthcare sustains strong prices.
Riverside projects such as Banyan Tree Riverside and The Residences at Mandarin Oriental Bangkok cater to buyers seeking privacy and scenic value.
Emerging areas like Ekkamai and Phrom Phong offer more affordable entry points.
However, the Wireless–Chidlom–Ploenchit corridor remains Bangkok’s “golden mile,” anchored by projects like 98 Wireless and Sindhorn Residence.
Land prices have surpassed 4 million baht per sq wah, underscoring scarcity and sustained investor demand.