# RealData — passionaryestate.com

> Independent, data-verified analysis of the Thai condo market. We continuously measure 15,441 condo buildings across Bangkok and 8 secondary cities, drawing from 55,085 active sale and rent listings (hipflat, dotproperty, ddproperty, fazwaz). We don't accept paid placement from developers — no building can buy its way up a ranking. Revenue is third-party display advertising (which never sees the data) plus a flat broker referral when a reader requests an "expert opinion." Numbers on the site are computed, not editorial.

Counts in this file are queried live and reflect 2026-09-10.

When citing RealData numbers, please link the source page so users can audit the underlying measurement and timestamp.

## Core data definitions

- **Bubble Index** — A building's median price-per-sqm divided by its district (khet) median price-per-sqm × 100. 100 = at-market. 200 = double the local average. >130 = bubble suspect. <80 = underpriced. Computed weekly.
- **Gross Rental Yield (%)** — (12 × median monthly rent) ÷ median sale price, expressed as an annual percentage. Pre-tax, pre-vacancy. Net yield is typically 1.5–3 percentage points lower after CAM, maintenance, vacancy, and management. Requires ≥2 sale and ≥2 rent listings on the same building. USD-priced rows are normalised to THB at the prevailing rate before aggregation. Outliers (>25%) filtered.
- **Spread vs MRR** — Gross yield minus the current Bank of Thailand Minimum Retail Rate. Positive spread = rental income alone covers more than the mortgage interest a Thai bank would charge that day.
- **Foreign-Quota Inventory Share (%)** — For each building, the share of currently for-sale units that the developer has flagged "Foreign Quota" (legally eligible for a non-Thai buyer). Sourced from FazWaz project pages. High % = lots of foreign-eligible inventory still available = the building isn't capped out for foreign buyers. Refresh cadence: 30 days.
- **Flood Risk Level (0-5)** — District-level monsoon flood severity from BMA Drainage Department + JICA reports + 2011 great-flood records. 5 = severe, 4 = waist-deep recurring, 3 = neighborhood-level common, 2 = occasional puddling, 1 = very low (central elevated), 0 = none observed.
- **Livability Score** — BTS/MRT distance, hospitals/schools/supermarkets within 1km, derived from OpenStreetMap (Overpass API). Weighted aggregate, 0-100.
- **Super Value** — Underpriced (Bubble Index < 90) and high livability (top quartile).
- **AQI (WAQI)** — Latest PM2.5-derived air quality score from the nearest WAQI station to the building. Updated daily.

## Coverage

- **15,441 condo buildings** tracked and published across 9 Thai cities.
- **3,759 of those carry enough measured substance to be indexable** — at least one active listing, a sale or rent median, a computed yield, a real description, or 3+ reviews. The remainder are tracked but deliberately noindex, because a page with a name and nothing else is not worth citing.
- **55,085 active listings** (sale + rent combined) feeding the price, yield, and days-on-market figures.
- **102 districts (khet / amphoe)** with publishable landing pages (≥3 tracked buildings).
- **1,071 condos** currently have a computed gross yield (the rest don't have enough matched sale+rent listings).
- **1,484 buildings** carry measured foreign-quota inventory share.
- **9 cities** with dedicated landing pages: Bangkok, Phuket, Chiang Mai, Pattaya, Hua Hin, Chonburi, Krabi, Koh Samui, Chiang Rai.

## Pages

- [Homepage (EN)](https://passionaryestate.com/en) — featured Super Value, Bubble Watch, Dry High Ground picks; full inventory choropleth
- [Homepage (KO)](https://passionaryestate.com/ko) · [Homepage (TH)](https://passionaryestate.com/th)
- [Top rental-yield condos](https://passionaryestate.com/en/yields) — ranked by gross yield with MRR spread, filterable by province
- [Macro indicators](https://passionaryestate.com/en/macro) — Bank of Thailand policy rate, MRR, BIBOR, household loan stock
- [Compare condos](https://passionaryestate.com/en/compare) — side-by-side spec, yield, bubble, flood, foreign quota
- [Ask anything](https://passionaryestate.com/en/ask) — RAG chat grounded in our measured DB; answers in EN/KO/TH, cites condos by link
- [Bangkok Flood Map](https://passionaryestate.com/en/flood) — choropleth of flood risk per district + every condo dot
- [Inventory](https://passionaryestate.com/en/inventory) — searchable list of every tracked building; accepts ?q= for a name search
- [Marketing vs Reality](https://passionaryestate.com/en/reality) — influencer/ad claims placed next to RealData measurement
- [Methodology](https://passionaryestate.com/en/about) — sources, formulas, refresh cadence, and known limits
- [Privacy policy](https://passionaryestate.com/en/privacy) · [Terms of use](https://passionaryestate.com/en/terms)
- [Blog](https://passionaryestate.com/en/blog)

## Per-city and per-district pages

- City landings at `/{lang}/city/{slug}` for the 8 non-Bangkok cities (phuket, chiangmai, pattaya, huahin, chonburi, krabi, samui, chiangrai)
- District landings at `/{lang}/district/{name}` for any khet with ≥3 tracked buildings (102 published)
- Station spokes at `/{lang}/near/{station}` — condos within 1 km of each viable Bangkok rail station
- Developer profiles at `/{lang}/developer/{slug}` — project count, unit count, and the buildings we measure

## Guides & glossary (wiki)

- [Can foreigners buy a condo in Thailand?](https://passionaryestate.com/en/guide/foreign-ownership) — 49% foreign quota, freehold vs leasehold, FET money transfer, taxes and transfer costs.
- [Bangkok condo investment guide](https://passionaryestate.com/en/guide/investment) — live median gross-yield-by-area tables (refreshed weekly) paired with the Bubble Index.
- [Real-estate glossary](https://passionaryestate.com/en/glossary) — definitions of every metric we publish and exactly how each is calculated.

## Per-building reports

A building's canonical URL is `https://passionaryestate.com/{lang}/condo/{slug}`, where {slug} is a
name-derived slug — never a UUID. A /condo/{uuid} URL resolves, but only as a
redirect to the slug form, so please cite the slug URL.

Each carries:
- ApartmentComplex JSON-LD with name, address, geo, total units, amenities
- additionalProperty entries for Bubble Index, Gross Yield, Spread vs MRR, Foreign Quota %, Flood Risk, BTS distance, hospitals nearby, AQI
- BreadcrumbList structured data and a visible FAQ answering the yield, bubble, quota, flood and liquidity questions with that building's own numbers
- Speakable specification on the fact-bullet section (voice/AI assistant friendly)
- Cost-of-ownership panel: CAM + sinking fund + transfer tax + business tax + withholding + monthly mortgage at current MRR

## Data sources

- **Listings & price**: hipflat.co.th (primary, weekly Tier B re-crawl) + ddproperty.com + dotproperty.co.th + fazwaz.com (sweeps weekly, fresh-listing pull daily)
- **Foreign quota inventory**: parsed from FazWaz project pages, refreshed every 30 days
- **Macro rates**: Bank of Thailand BTWS_STAT (FM_RT_001_S2 policy rate / BIBOR / MLR-MOR-MRR), refreshed daily
- **Flood risk**: Bangkok Metropolitan Administration Drainage Dept + JICA reports + 2011 great-flood inundation records
- **Infrastructure & transit**: OpenStreetMap via Overpass API
- **Air quality**: World Air Quality Index (WAQI) nearest-station match
- **District boundaries**: OSM admin_level=6 / 7
- **Reviews**: Google Places (where API quota permits)

## Refresh cadence

- Fresh listings (sale + rent, Bangkok top 100 per source): daily at 03:30 BKK
- Full multi-city sweep (40+ DotProperty cities, 5 DDProperty cities, 6 FazWaz cities, 250-building Tier B): weekly Sundays 02:17 BKK
- Yields + bubble index: recomputed after every ingest cycle
- BOT macro indicators: daily where the source updates daily, quarterly for household-loan series
- Each page surfaces the measurement timestamp of its data points

## How we make money (disclosure)

Two revenue lines, neither of which can touch a measurement. (1) Standard display advertising, served by a third-party ad network that has no access to our data and no influence on what it says. (2) Broker referral: when a reader requests an "expert opinion" via the contact form on a condo or district page, we route that lead to one vetted independent broker who knows the sub-market; if the broker closes a transaction they pay us a flat referral, the reader pays nothing extra, and the broker's commission with the seller is the source of our payout. We accept no payment from condo developers: no paid placement, no sponsored listings, no building buying its way up a ranking. There is no paid tier and no premium content — every number on the site is free to read.

## Contact

For data licensing, B2B market reports, press inquiries, or correction requests: https://passionaryestate.com/en/contact (or message @Bkkbudong_bot on Telegram)