Bangkok Home Prices Dive Down as Pandemic Continues

• Sommana Yan
• 6 August 2021
• International News
• 2840 Views

Prices of homes in Bangkok have dived compared to emerging cities in Southeast Asia, as the COVID-19 cases in Thailand continue to spike, reported Investvine.

According to a study entitled ‘Global Cities Q3’ by Juwai IQI, home prices in Bangkok shrunk by 6% in Q1 2021 year-on-year, with references to condominium prices in the central business district.

Completely different from Bangkok, the home prices in Singapore and Kuala Lumpur saw an increases of 7.4% and 5.6% respectively, while home prices in Ho Chi Minh also went up 0.7% during the period.

In cases where home prices have appreciated, the study attributed the trend to monetary and fiscal stimulus measures by governments, capital gains from a burgeoning stock market, and excess cash amassed during long lockdowns.

“COVID-19 reordered many markets and stimulated new demand trends as buyers reevaluated their living situation and sought out property that meets their new needs,” the study said.

• Business and Market