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Updated the key Industry Indicator: Condominium in each industry.By Patchara Klinchuanchun

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

2020 Bangkok residential business And metropolitan areas are likely to contract strongly from 2019

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

Through 2022 to 2024, the housing markets in the BMR should gradually strengthen on an economic rebound and rising consumer spending power

In 2021, the housing market in the Bangkok Metropolitan Region (BMR) will remain flat or see only mild growth, premised on: (i) the ongoing spread of COVID-19 and the effects of this on economic recovery, and (ii) steadily rising household debt that is undercutting consumer purchasing power and encouraging lenders to be more careful about the release of new credit.

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.

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.

The residential property market in the Bangkok Metropolitan Region (BMR) is expected to expand gradually over 2027–2029,

Krungsri Research believes that over 2024-2026 the sales of residential properties will gradually recover, increasing by 2-3% per year, averaging approximately 83,000 units annually.