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The housing markets in the 6 major provinces will continue to strengthen over 2023-2025, helped by: (i) the gradual recovery of the Thai economy; (ii) progress on the public infrastructure investment, which will then encourage an uptick in economic activity; (iii) recovery in the tourism sector, with foreign arrivals now expected to return to their pre-Covid-19 level by 2025; and (iv) government efforts to stimulate property sales by cutting fees for registering mortgages and transferring ownership

In 2021, housing sales in the 6 major provinces will likely remain flat or drop slightly from 2020 levels as COVID-19 continues to hurt the economy. In response to the prevailing weak business conditions, developers have been trying to run down existing stocks of unsold properties. Looking at 2022 and 2023, conditions should improve along with stronger economic growth, while government stimulus measures will help to lift consumer purchasing power. But there are still several headwinds weighing on the property market. Household debt would continue to trend up, which would reduce affordability and simultaneously lead to tighter credit conditions. In addition, demand for housing has been mostly absorbed in 2020, when developers had cut prices to run down inventories, reflected in the mild drop in house ownership transfers. Also, demand from foreigners will continue to be capped by restrictions on international travel.

In 2026, the housing market in the six major provinces1/ is expected to slow in line with Thailand’s economy

Industry Outlook 2021-2023: Modern Trade

Bright outlook for new investment cycle driven by three visible trends: (i) the Private Investment Index showed the strongest rise in almost three years; (ii) industrial capacity utilization has finally returned to pre-pandemic levels; and (iii) there are more industries expressing confidence.

In 2020 operating results of private hospitals have been under pressure from the COVID-19 epidemic, affecting purchasing power of Thai and foreign patients

In 2026, Phuket's housing market is expected to moderate from the strong momentum seen in 2025, reflecting continued uncertainty surrounding the global and Thai economies

Industry Outlook 2019-2021: Modern Trade

The modern trade industry can look forward to average annual growth of 5.0-5.5% over 2024 to 2026. Expansion will be driven by: (i) growth in the economy ; ii)(ii) the continuing rebound in the tourism sector; iii) ; (iii) progress on government-backed infrastructure megaprojects and the drafting of new planning regulations for Bangkok,