Who are the key players in Thailand Residential Real Estate Market?

Sansiri Public Co. Ltd, Property Perfect, Pruksa Holding, Supalai Company Limited and Ananda Development are the major companies operating in the Thailand Residential Real Estate Market. Read More

What years does this Thailand Residential Real Estate Market cover, and what was the market size in 2023?

In 2023, the Thailand Residential Real Estate Market size was estimated at USD 146.40 billion. The report covers the Thailand Residential Real Estate Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Residential Real Estate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key trends in the Thai Residential Real Estate Market?

The key trends in the Thai Residential Real Estate Market are a) Increasing demand for condominiums in urban areas due to factors like convenience, security, and urbanization b) Rise of mixed-use developments offering a combination of residential, commercial, and recreational spaces Read More

Residential Real Estate Market in Thailand Market Size

Market Size of Residential Real Estate Industry in Thailand

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Residential Real Estate Market In Thailand Summary

Study Period	2020 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 154.51 Billion
Market Size (2029)	USD 202.33 Billion
CAGR (2024 - 2029)	5.54 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

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Thai Residential Real Estate Market Analysis

The Residential Real Estate Market in Thailand Market size is estimated at USD 154.51 billion in 2024, and is expected to reach USD 202.33 billion by 2029, growing at a CAGR of 5.54% during the forecast period (2024-2029).

COVID-19 has affected the residential real estate sector severely. The country expected the recovery of the sector in 2021. Unfortunately, there was a slow growth rate registered due to emerging new variants. Furthermore, the country's residential real estate market is in the recovering phase.

Moreover, in 2022, the country is taking vital steps to boost sales in the market. For instance, the Bank of Thailand (BoT) had announced an extension of the loan-to-value (LTV) ratio for mortgage lending to allow homebuyers to borrow up to 100% of total home value. In addition, this LTV relaxation leverages the growth of the Thai economy and market supply chain, which were affected during the pandemic. This further maintains employment in the real estate sector and related industries, thus contributing to the country's GDP.

According to Real Estate Information Center (REIC), the market experienced significant growth in 2021 due to increasing foreign investments in the sector. Despite the pandemic disruption, the Chinese are still interested in Thai property, as they hold more than 60% share in foreigner condo transfers in the country.

Thai Residential Real Estate Industry Segmentation

Residential real estate includes housing for individuals, families, or groups of people to live on. Furthermore, the report provides key insights into the Thai residential real estate market. It includes technological developments, trends, and initiatives taken by the government in this sector. It also focuses on the market dynamics, such as factors driving the market, restraints to the market growth, and opportunities going forward. Additionally, the competitive landscape of the Thai residential real estate market is depicted through the profiles of active key players. In the report, the Thai Residential Real Estate market is segmented by Property Type (Apartments and Condominiums, Landed Houses, and Villas) and by Key Cities (Bangkok, Chiang Mais, Nontha Buri, and Samut Prakan). The report offers market size and forecasts for the Thai Residential Real Estate Market in value (USD billion) for all the above segments.

By Type
		Apartments and Condominiums
		Landed Houses and Villas

By Key Cities
		Bangkok
		Chiang Mais
		Nontha Buri
		Samut Prakan

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Residential Real Estate Market in Thailand Size Summary

The residential real estate market in Thailand is currently in a recovery phase following the significant impact of the COVID-19 pandemic. The market is expected to experience steady growth over the forecast period, driven by various factors including government initiatives and foreign investment. The Bank of Thailand's extension of the loan-to-value ratio for mortgage lending has been a crucial step in boosting market activity, allowing homebuyers to finance their purchases more easily. This move, along with the expansion of transportation infrastructure in Bangkok, has supported the growth of the housing sector, particularly in the suburbs where projects are affordable to a wide range of the population. The demand for housing in Bangkok and its vicinities is further bolstered by economic growth, infrastructure investments, and strong interest from overseas buyers.

The market is characterized by a shift in developer focus from condominiums to low-rise housing, driven by changing consumer preferences and increased demand for single-detached homes and townhomes. This trend is evident in the southern region of Thailand, which has seen significant construction activity. Major developers like Sansiri, Habitat Group, and Supalai are leading this shift, launching numerous low-rise projects to cater to the middle and upper-end segments. The competitive landscape is marked by a high concentration of large developers, with key players diversifying their portfolios into other property sectors such as offices and serviced apartments. Partnerships and collaborations, such as those between Ananda Development and Dusit International, are also shaping the market, aiming to expand customer bases and enhance sales growth, particularly in the luxury segment.

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