{"id":24609,"date":"2026-04-17T01:29:51","date_gmt":"2026-04-16T18:29:51","guid":{"rendered":"https:\/\/arcadiaconsult.com.vn\/?p=24609"},"modified":"2026-04-17T14:48:23","modified_gmt":"2026-04-17T07:48:23","slug":"thailand-q4-2025-housing-market-by-reic","status":"publish","type":"post","link":"https:\/\/arcadiaconsult.com.vn\/en\/thailand-q4-2025-housing-market-by-reic\/","title":{"rendered":"THAILAND Q4 2025 HOUSING MARKET BY REIC"},"content":{"rendered":"<p style=\"text-align: justify;\"><em><span style=\"color: #000000;\">Signs of a market moving past the trough toward stabilization with structural rebalancing under way from <a href=\"https:\/\/arcadiaconsult.com.vn\/wp-content\/uploads\/2026\/04\/REIC-PressRelease-260225_52843_1772017693_79203.pdf\" target=\"_blank\" rel=\"noopener\">Real Estate Information Center (REIC)&#8217;s press release<\/a>, Government Housing Bank (GHB), distributed on 25\/02\/2026.<\/span><\/em><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #000000;\">MARKET POSITION<\/span><\/strong><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">REIC reported that Thailand\u2019s housing market in Q4 2025 showed a clearer quarter-on-quarter recovery, extending the improvement seen over the previous two quarters.<\/span><\/li>\n<li><span style=\"color: #000000;\">The improvement was supported by short-term economic stimulus under the government\u2019s Quick Big Win program, together with property sector measures, notably lower transfer and mortgage registration fees and the temporary easing of loan-to-value (LTV) rules.<\/span><\/li>\n<li><span style=\"color: #000000;\">Those measures helped bring forward purchase decisions for actual occupation and lifted nationwide housing title transfers from the third quarter, in both unit volume and transfer value.<\/span><\/li>\n<li><span style=\"color: #000000;\">In REIC\u2019s assessment, the market has moved beyond its low point. Even so, 2026 is expected to remain broadly in line with 2025 and to mark a period of structural rebalancing across demand, supply and housing credit conditions.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><strong>NATIONWIDE TRANSFER ACTIVITY IN Q4 2025<\/strong><\/span><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">Nationwide housing title transfers totaled 89,198 units, up 5.7% quarter on quarter from 84,397 units in Q3 2025.<\/span><\/li>\n<li><span style=\"color: #000000;\">Transfer value rose to THB 247.145 billion, up 9.3% quarter on quarter from THB 226.166 billion.<\/span><\/li>\n<li><span style=\"color: #000000;\">Low-rise housing recorded 60,086 transferred units, up 4.4% quarter on quarter, with transfer value of THB 174.469 billion, up 6.3%.<\/span><\/li>\n<li><span style=\"color: #000000;\">Condominium transfers reached 29,112 units, up 8.6% quarter on quarter, with transfer value of THB 72.677 billion, up 17.0%.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><strong>MARKET STRUCTURE: NEWLY BUILT HOMES AND RESALE HOMES<\/strong><\/span><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">The market mix continued to shift in a meaningful way toward resale stock.<\/span><\/li>\n<li><span style=\"color: #000000;\">Newly built homes recorded 33,606 transfers in Q4 2025, equivalent to 38% of all nationwide transfers, down from 39% a year earlier.<\/span><\/li>\n<li><span style=\"color: #000000;\">Resale homes recorded 55,592 transfers, equivalent to 62% of all transfers, up from 61% a year earlier.\u00a0<\/span><\/li>\n<li><span style=\"color: #000000;\">Resale homes therefore took a larger share by volume, although their aggregate transfer value remained below that of newly built homes.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><strong>FULL YEAR 2025 PERFORMANCE<\/strong><\/span><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">For full year 2025, nationwide housing title transfers totaled 316,214 units, down 9.1% from 347,799 units in 2024.<\/span><\/li>\n<li><span style=\"color: #000000;\">Total transfer value came to THB 864.913 billion, down 11.8% from THB 980.648 billion in 2024.<\/span><\/li>\n<li><span style=\"color: #000000;\">Newly built homes recorded 112,565 transferred units for the year, down 13.9%, with transfer value of THB 452.565 billion, down 14.7%.<\/span><\/li>\n<li><span style=\"color: #000000;\">Resale homes recorded 203,649 transferred units, down 6.2%, with transfer value of THB 412.348 billion, down 8.4%.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><strong>GEOGRAPHIC CONCENTRATION AND PROVINCIAL TRENDS<\/strong><\/span><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">The ten provinces with the highest transfer value in Q4 2025 were Bangkok, Chonburi, Samut Prakan, Nonthaburi, Pathum Thani, Phuket, Chiang Mai, Rayong, Khon Kaen and Nakhon Ratchasima.<\/span><\/li>\n<li><span style=\"color: #000000;\">Within that group, Khon Kaen and Rayong recorded year-on-year growth in both transfer volume and transfer value in Q4 2025.<\/span><\/li>\n<li><span style=\"color: #000000;\">For full-year 2025, the ten provinces with the highest transfer value were Bangkok, Chonburi, Samut Prakan, Nonthaburi, Pathum Thani, Phuket, Chiang Mai, Rayong, Nakhon Ratchasima and Khon Kaen.<\/span><\/li>\n<li><span style=\"color: #000000;\">Among those provinces, Phuket, Rayong, and Nakhon Ratchasima recorded year-on-year growth in both transfer volume and transfer value for the year.<\/span><\/li>\n<li><span style=\"color: #000000;\">Khon Kaen recorded higher transfer volume but lower transfer value, indicating a tilt toward lower priced transactions.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><strong>FOREIGN DEMAND IN CONDOMINIUM UNITS<\/strong><\/span><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">Q4 2025 also showed a positive signal in foreign demand for condominium units.<\/span><\/li>\n<li><span style=\"color: #000000;\">Condominium title transfers to foreign buyers totaled 3,888 units, up 1.1% quarter on quarter and 9.3% year on year.<\/span><\/li>\n<li><span style=\"color: #000000;\">Transfer value rose only marginally year on year, while unit volume increased more quickly, suggesting a lower average value per unit, particularly in the mid-market segment.<\/span><\/li>\n<li><span style=\"color: #000000;\">For full year 2025, foreign buyers acquired 14,899 condominium units, up 2.2% year on year, while transfer value fell 10.7% to THB 60.921 billion.<\/span><\/li>\n<li><span style=\"color: #000000;\">Foreign buyers accounted for 14.7% of all condominium units transferred nationwide and 25.0% of total condominium transfer value.<\/span><\/li>\n<li><span style=\"color: #000000;\">Chinese buyers remained the largest foreign buyer group. In 2025, they acquired 4,940 condominium units, down 12.9% year on year, with transfer value of THB 18.585 billion, down 30.0%.<\/span><\/li>\n<li><span style=\"color: #000000;\">Even with that decline, Chinese buyers still represented the largest share of foreign condominium demand, at 33% of units and 31% of value.<\/span><\/li>\n<li><span style=\"color: #000000;\">Russia and Taiwan recorded notable growth in both units and value, indicating that foreign demand is becoming more diversified across buyer nationalities.<\/span><\/li>\n<li><span style=\"color: #000000;\">REIC also notes a broader buyer mix, including owner-occupiers, long-stay residents, and buy-to-let investors, which should support greater flexibility and resilience in the condominium market.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><b>\u00a0HOUSING CREDIT CONDITIONS<\/b><\/span><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">Housing credit data also reflected a modest improvement in demand.<\/span><\/li>\n<li><span style=\"color: #000000;\">New housing loans to individual borrowers nationwide totaled THB 148.748 billion in Q4 2025, up 1.3% quarter on quarter from THB 146.834 billion in Q3 2025.<\/span><\/li>\n<li><span style=\"color: #000000;\">For full-year 2025, new housing loans to individual borrowers totaled THB 539.065 billion, down 7.8% year on year from THB 584.843 billion.<\/span><\/li>\n<li><span style=\"color: #000000;\">REIC noted that the annual decline in new lending continues to reflect prudent underwriting by financial institutions and the constraint imposed by elevated household debt.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><strong><span style=\"color: #000000;\">2026 MARKET OUTLOOK<\/span><\/strong><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">REIC views Thailand\u2019s economy in 2026 as fragile, but with opportunities still present.<\/span><\/li>\n<li><span style=\"color: #000000;\">GDP growth in 2026 is projected in a range of 1.5% to 2.5%, with a midpoint estimate of 2.0%.<\/span><\/li>\n<li><span style=\"color: #000000;\">Household debt is expected to remain high and will continue to weigh on purchasing power.<\/span><\/li>\n<li><span style=\"color: #000000;\">At the same time, short-term measures to relieve household debt burdens, including programmes such as \u201cClose Debt Fast, Move Forward\u201d and \u201cYou Fight, We Help\u201d, should help ease financial pressure on households.<\/span><\/li>\n<li><span style=\"color: #000000;\">Interest rates are expected to trend downward, while tourist arrivals and tourism receipts are expected to improve.<\/span><\/li>\n<li><span style=\"color: #000000;\">With the government now in place, REIC expects continued policy action and further economic stimulus, which should support exports, industrial production, and private consumption.<\/span><\/li>\n<li><span style=\"color: #000000;\">Under REIC\u2019s base-case scenario, nationwide housing title transfers in 2026 are projected at 314,593 units, down 0.5% from 2025.<\/span><\/li>\n<li><span style=\"color: #000000;\">Transfer value in 2026 is projected at approximately THB 858.453 billion, down 0.7% from 2025.<\/span><\/li>\n<li><span style=\"color: #000000;\">New housing loans to individual borrowers are projected at approximately THB 539.062 billion, effectively unchanged from the THB 539.065 billion recorded in 2025.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><strong><span style=\"color: #000000;\">CLOSING ASSESSMENT<\/span><\/strong><\/p>\n<ul style=\"text-align: justify; list-style-type: square;\">\n<li><span style=\"color: #000000;\">In summary, 2025 was a year of contraction for Thailand\u2019s housing market in both transfer volume and transfer value.<\/span><\/li>\n<li><span style=\"color: #000000;\">The improvement seen in the final quarter was real and was supported by the Quick Big Win measures, lower transfer and mortgage registration fees, and the easing of LTV rules.<\/span><\/li>\n<li><span style=\"color: #000000;\">Even so, the recovery remains limited rather than broad-based.<\/span><\/li>\n<li><span style=\"color: #000000;\">For 2026, REIC frames the market less as entering a full rebound than as undergoing structural rebalancing across demand, supply and domestic housing credit conditions.<\/span><\/li>\n<li><span style=\"color: #000000;\">On REIC\u2019s assessment, that adjustment should place the property sector on a healthier footing and support a firmer contribution to the wider Thai economy.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\"><strong>FREQUENTLY ASKED QUESTIONS\u00a0<\/strong><\/span><\/p>\n<p style=\"text-align: left;\"><strong><span style=\"color: #000000;\">Where is demand still showing up while the broader market stays flat?<\/span><\/strong><\/p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Resale homes are taking a larger share of market activity by volume. In Q4 2025, second-hand homes made up 62% of transfers, and for full-year 2025 their share reached 64%. In condos, transfers to foreign buyers rose 9.3% year on year in Q4. China remained the largest foreign buyer group overall, while Russia and Taiwan recorded notable growth in 2025, showing that foreign demand is becoming more diversified.<\/span><\/p>\n<\/blockquote>\n<p style=\"text-align: left;\"><strong><span style=\"color: #000000;\">Why does REIC\u2019s flat 2026 outlook matter after the 2025 decline?<\/span><\/strong><\/p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">REIC expects the housing market in 2026 to remain broadly stable after the 2025 decline. Its base case forecasts a 0.5% drop in transfers and a 0.7% drop in transfer value, with new housing loans staying close to 2025 levels. The report points to debt relief measures, lower interest rates, tourism recovery, and continued stimulus as support factors, but it also stresses that the economy remains fragile and household debt is still high. REIC frames 2026 as a year of structural rebalancing rather than a full rebound.<\/span><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Signs of a market moving past the trough toward stabilization with structural rebalancing under way from Real Estate Information Center (REIC)&#8217;s press release, Government Housing Bank (GHB), distributed on 25\/02\/2026. MARKET POSITION REIC reported that Thailand\u2019s housing market in Q4 2025 showed a clearer quarter-on-quarter recovery, extending the improvement seen over the previous two quarters&#8230;.<\/p>\n","protected":false},"author":3,"featured_media":24593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[93,94],"tags":[],"class_list":["post-24609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-real-estate-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/posts\/24609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/comments?post=24609"}],"version-history":[{"count":5,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/posts\/24609\/revisions"}],"predecessor-version":[{"id":24614,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/posts\/24609\/revisions\/24614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/media\/24593"}],"wp:attachment":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/media?parent=24609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/categories?post=24609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/tags?post=24609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}