Real estate in Thailand - statistics & facts

The real estate industry in Thailand is one of the most important industries in the country. In 2021, the GDP contribution of the real estate industry in Thailand amounted to almost 437 billion Thai baht. This contribution has been growing over the past decade. The industry is expected to grow during the next five years.

The residential real estate landscape in Thailand

Some of the most popular types of residential properties in Thailand include townhouses, condominiums, and detached and semi-detached houses. In 2022, more new townhouses were built among any other types of residences, accounting for approximately 28 thousand units. Nevertheless, the market for high-rise residential buildings has gained popularity in the past decade, especially in the Bangkok Metropolitan Region (BMR). This could be due to the higher prices of land, convenient locations, and the influx of people in search of career opportunities within the most populous city in the country. Therefore, Bangkok condominiums still appear alluring for locals and foreigners despite some setbacks from the COVID-19 pandemic which caused demand fluctuations. In the first quarter of 2023, the demand for condominiums in Bangkok amounted to over three thousand units. In that same period, the majority of the new Bangkok condominium supply was in the Bangkok suburbs.

Commercial and industrial real estate in Thailand

Most of the office space in Thailand is in the BMR, accounting for more than 80 percent of the entire office space in the country. As of March 2023, there were seven major office building projects in the works, with more than 500 thousand square meters of lettable area in BMR and another five upcoming projects in the next year. As for retail space in BMR, most of the retail space is distributed in the suburban area of the region as of the second quarter of 2022. Undoubtedly, commercial and industrial real estate in Thailand has also been affected by the repercussions of the COVID-19 pandemic. Many companies downsized by implementing work-from-home policies and reducing their operating spaces. In 2022, the leases and sales of industrial real estate increased by almost 42 percent.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Dec 20, 2023

Key insights

GDP from real estate activities
436.7bn THB
Real estate developer with the highest revenue
AP
Year with the highest number of new residential buildings
2018
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Editor’s Picks Current statistics on this topic

Year-on-year (YoY) growth rate of real estate supply in Bangkok in Thailand as of 1st quarter 2023, by type

Commercial Real Estate

YoY growth of real estate supply in Bangkok Thailand Q1 2023, by type

Gross domestic product (GDP) from the real estate activities sector in Thailand from 2012 to 2021 (in billion Thai baht)

Real Estate

GDP from real estate activities Thailand 2012-2021

Average selling price per square meter of Bangkok condominiums in Thailand in 2nd quarter 2023, by location (in 1,000 Thai baht)

Apartments

Average selling price of Bangkok condos Thailand Q2 2023, by location

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