PATTAYA, Thailand – In the aftermath of the March 28 earthquake centered in Myanmar, concerns over the safety of high-rise buildings have begun to reshape Thailand’s real estate landscape, particularly within the condominium market. Contrary to initial fears of a steep decline, condo sales have merely slowed, not stopped. Yet a notable shift is underway—homebuyers are increasingly favoring low-rise developments and lower floors of high-rise buildings, placing structural safety at the forefront of their decision-making.
Sopon Pornchokchai, President of the Thai Real Estate Research and Valuation Information Center (Agency for Real Estate Affairs Co., Ltd.) and president of the International Real Estate Federation (FIABCI Thai), recently collaborated with several housing organizations to study the post-quake property market and shared these findings during a special seminar on natural disasters and real estate.
A survey conducted on April 28, examined 37 high-rise condo projects (buildings over 20 floors) still on sale in Bangkok’s earthquake-affected zones. The data covered a total of 7,783 units. Results showed that 77 units were sold during April alone. Extrapolating for the entire month, and adjusting for numerous holidays, sales could reach roughly 100 units—or about 1.3% of total available inventory. While this is a slight dip from the average monthly sales rate of 1.6% recorded in the first quarter of 2025 (totaling 397 units or 4.9%), the impact is not drastic.
Interestingly, the condos that did sell in April were not limited to low-end units. The most popular price range was 5–10 million baht per unit, accounting for 44% of sales, followed by units priced at 3–5 million baht (27%). In terms of price per square meter, units in the 150,001–200,000 baht range were the most sought after (38%), followed by those in the 100,001–150,000 baht range (30%). One-bedroom and two-bedroom layouts dominated sales, and smaller units between 31–50 square meters in size were the most popular, suggesting continued demand among young professionals and couples, albeit with increased safety scrutiny.
In the immediate weeks after the quake, consumer confidence was significantly affected. Potential buyers became cautious, often postponing purchase decisions. But as the situation stabilized, buyer confidence began to return, evidenced by increased project visits, though actual purchases remained sluggish. Notably, prices remained stable; instead of discounts, developers began offering more post-sale services such as extended warranties and room maintenance, aiming to reassure concerned buyers. Some buyers, however, continue to monitor the situation in hopes of post-quake promotions.
Projects that were completed before the quake and are still on sale are undergoing internal repairs and will gradually reopen for viewing by May. Residents have not been evacuated. In projects directly affected by the earthquake and where units were uninhabitable, developers have taken responsibility by providing repairs and compensating residents with Airbnb vouchers worth 20,000 coins for one month.
Projects still under construction were less impacted and remain on the market, although sales volumes have dropped by approximately 50% as safety concerns linger among potential buyers. Foreign buyers continue to show interest in prime areas, but their decisions now hinge on earthquake-resistant design and structural integrity. While high-rise projects face psychological resistance among some buyers, demand has surged for units on lower floors, offering developers an unexpected sales opportunity in those segments.
Some projects experienced medium to high levels of structural impact in certain floors. When damage is significant, showrooms are closed for renovations, although sales activities continue. Meanwhile, the number of buyers who have canceled reservations or failed to continue with down payments remains small—mainly those who had only made early-stage bookings without formal contracts.
Looking ahead, the Thai Real Estate Research and Valuation Information Center expects the popularity of low-rise developments to rise significantly, alongside increased demand for lower floors in high-rise buildings. Buyers are now prioritizing “safety” and “structural strength” as core decision-making factors. Developers with projects that are structurally robust and relatively unaffected by the quake will have a better chance of winning customer trust.
Furthermore, excellent after-sales service and swift damage mitigation will become key selling points. Consumers are now more risk-aware, prompting more deliberate and informed purchasing decisions. Marketing strategies will shift to emphasize earthquake-resistant materials and building standards. Some well-funded buyers are opting for low-rise housing as an alternative, driving single-home sales growth in the second quarter of 2025.
Investors are expected to pause on new high-rise developments in the short term, likely resuming activity by the end of the year. Within one to two years, consumer behavior is expected to normalize, especially among those needing to live or work in central urban areas where high-rise living is often the only practical solution.
Sopon recommends that during this transitional period, property developers take extra care of existing customers to show responsibility and build long-term brand loyalty. The post-earthquake moment, he says, is not only a challenge but also an opportunity to reinforce trust and credibility in Thailand’s real estate industry.
