The price index for new apartments in Nonthaburi and Samut Prakan fell for four consecutive quarters due to an oversupply of unsold apartments in older projects

The total number of unsold condominiums in Nonthaburi was 6,705 valued at 14.8 billion baht as of the end of the second quarter of 2023. In Samut Prakan, the number of unsold condominiums stood at 5,991, valued at 23.2 billion baht.

High levels of household debt, which have exceeded 90% of GDP, have also made it difficult for buyers in the lower-cost segment to obtain mortgages. Therefore, condominium developers in the budget segment are launching attractive campaigns and promotions to boost sales in the third quarter of 2023. The most popular form is cash purchase at a discount.

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