Thailand's residential property market recorded 167,665 transfers in the first half of 2026, up 17.6% from 142,619 in the same period last year, according to the Real Estate Information Centre (REIC). The transfers were worth 429.839 billion baht, a year-on-year increase of 9.8% from 391.601 billion baht. REIC director Mana Nimitvanich said government measures, including lower transfer and mortgage registration fees, had helped revive the market. The fee reductions, first introduced in the second quarter of 2025, have been extended for another year, from July 1, 2026 to June 30, 2027. Relaxed loan-to-value ratios have also supported housing loans and prompted accelerated transfers, particularly in June. Second-hand homes lead demand Second-hand homes made up 63% of transfers, compared with 37% for new homes. REIC said buyers were increasingly focused on value for money, with used properties often offering more space per square metre and more central locations than newer developments in suburban areas. The 2.01 million to 3 million baht price bracket rose to 24% of the market, while homes priced below 1 million baht fell to 27%. Low-rise homes, including detached houses, accounted for 70% of total transfer value. Some 111,624 low-rise units changed hands, up 14.6%, for a combined 299.432 billion baht, up 6.1%. Condominium transfers rose faster, increasing 24.1% to 56,041 units. Their value climbed 19.3% to 130.407 billion baht. Foreign condo sales fall, but Russians gain ground Foreign condominium transfers fell overall in the first six months of the year. The total dropped 8.8% to 6,533 units, while value slipped 1.5% to 28.267 billion baht. Chinese buyers remained the largest group by transfer value in Bangkok and Chonburi, but their purchases fell 27.7% to 6.874 billion baht. Russian buyers recorded the strongest growth, with purchases worth 3.603 billion baht, up 75.9%, driven by activity in Phuket and Chonburi. Myanmar buyers bought 2.457 billion baht worth of condos, down 16.2%, mainly in Bangkok. Other foreign buyers came from the US, Taiwan, France, the UK, Germany, Australia and India, in that order. REIC linked weaker foreign purchasing power partly to global economic uncertainty. The stronger Russian presence may be particularly relevant to overseas buyers looking in Phuket and Chonburi, where demand from that market has increased sharply. Growth forecast to slow after early surge Outstanding personal housing loans stood at 5.17 trillion baht in the first half, up 2.6%. New housing loans rose 12.2% to 289.315 billion baht, with second-quarter growth reaching 18.4%. REIC said non-performing loans showed no clear increase and remained controllable, partly because banks maintained relatively strict lending standards. For 2026, REIC forecasts 323,479 property transfers, up 2.3%, worth 880.760 billion baht, up 1.8%. The estimate assumes GDP growth of 2.25%, an MRR interest rate of 6.55% and inflation of 1.75%. In 2027, transfer value is projected to rise 3.1% to 908.358 billion baht, although unit numbers are expected to edge down 0.9% to 320,617. REIC said higher construction costs and new land valuations taking effect on January 1, 2027 would contribute to the higher values. Picture courtesy of TNR Join the discussion? 30 August 2026
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