Market Size of Residential Real Estate Industry in Thailand
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
