Bangkok Property Market Shrinks Project Sizes Amid Slowdown

At a forum on September 24 organized by PropToMorrow Limited titled "Bangkok in Four Directions: Four Great Cities Beyond the City," government and private-sector experts discussed Bangkok's property market and urban development outlook. The Department of Lands, represented by Sitthichok Srimeejai, a real estate development and promotion specialist, highlighted a marked slowdown in the subdivision market. In 2023, Bangkok had approximately 49 subdivision projects; in 2024, around 200 applications were submitted. By January-August 2025, 23 projects had been licensed, with 36 applications received compared to 49 in the same period of 2024. Condo registrations fell to 27 projects in 2025 from 53 in 2024, signaling developers are delaying new launches. The key change, Sitthichok explained, is not just the number of projects but their size: large 100-rai projects are increasingly rare, with most new projects now under 50 rai. The department is considering reducing minimum plot sizes for single-family homes from 50 to 35 square wah, twin houses from 35 to 25 square wah, and townhouses from 16 to 14 square wah. However, these proposals must align with building and zoning laws, particularly regarding parking, residential density, and waste management. Despite technical feasibility, approval is unlikely because committees worry about living standards—especially problems like street parking and garbage truck access, which have already prompted road widths to increase from 8 to 9 meters in some projects.