Bangkok Condo Market Suffering Downturn

Dr.Sopon Pornchokchai, President of research and property valuation centre in Thailand, Agency for Real Estate Affairs , there are 525,889 empty homes in Bangkok Metropolitan Region (BMR) which are mostly sold but do not have any residents. Empty homes (Every type of residential units) are residential units which use less electricity than 15 units per month which indicates that there is almost no use. These 525,889 empty homes make 10.3 per cent of the 5,097,815 total housing units in BMR, which means that there is one empty house in every ten houses. 9.2 per cent of the total low-rise residential units are empty. While 13.9 per cent of the total condominiums are empty (there is 1 empty unit in every 7 condominium units). As condominiums are mostly used for investment purposes, while low-rise residential units are mostly used for residential purpose, overseas property investors should invest in the Bangkok condo market carefully during this situation.
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