Property prices in Bangkok have been rising in the last two quarters.

The prices of new houses and apartments in and around Bangkok have been rising steadily over the past two quarters of the year, due to higher land prices, higher construction material costs and rising labor costs, according to Vichai Wiraktaphan, acting director of the State Housing Bank's Real Estate Information Center.

The price index for homes built in 2021 and last year in the second quarter is 129.7, up 1.9. Prices of single-storey houses in Bangkok, Nonthahaburi, Pathum Thani and Samutprakan rose significantly in the second quarter, with a price index of 129.1, up 2.5 from the index in the same period last year. The townhouse price index for the second quarter is 129.9, up 0.8 year-over-year. Vichai noted that townhouse prices are still rising.

With regard to new condominium apartments, the price index for the second quarter is 155.1, up 2.2 from a year ago, and up 0.3 from the first quarter, and there is a trend for the index to rise further.

However, prices of condominium apartments in Bangkok's neighboring provinces such as Nonthahaburi, Pathum Thani and Samutprakan fell for the third consecutive quarter since the fourth quarter of last year, as most units have been on sale since 2021. In addition, project builders are offering discounts to stimulate sales. The price index for new condominium apartments in Bangkok in the second quarter is 158.4, up 3.1 from a year ago, while the price index for new condominium apartments in Bangkok's three neighboring provinces is 141.1, down 1.6 from a year ago, and down 0.3 from the first quarter.