Resale Homes Dominating Thai Property Market
Data reveals a significant shift in Thailand’s residential property market, with second-hand homes increasingly capturing a larger share of overall transactions. In the first quarter of 2026, the volume of residential property transfers nationwide reached 72,583 units, valued at 187 billion baht. This represents an 11.2% increase in volume and a 3.1% rise in value compared to the same period last year.
Within this total, resale properties accounted for a substantial 48,446 units, translating to 93.3 billion baht. This indicates that second-hand homes constituted 67% of all transfers by volume and 59% by value. This marks a notable increase from 64% and 47% at the close of 2025, and 65% and 48% in the first quarter of the previous year.
New Home Market Trails Resale Segment
The growth in second-hand home transfers was robust, with a 13.8% increase in volume and a 7.7% increase in value year-on-year. In stark contrast, transfers of newly built homes saw a more modest 6.2% rise in volume, while their value experienced a slight decline of 1.1%.
This trend underscores a growing preference among Thai buyers for pre-owned properties. Analysts attribute this shift to diminishing purchasing power and a decelerating economy, making resale homes a more accessible and attractive option.
Price Dynamics Favoring Resale Properties
Narongpol Prapanirin, senior executive vice-president of marketing at Government Housing Bank and acting director of the Real Estate Information Center (REIC), stated, “Second-hand homes are increasingly attractive to buyers because they are often priced lower than new homes in comparable locations.”
Analysis from the Siam Commercial Bank Economic Intelligence Center supports this observation. During the period of 2019-2025, the average prices of second-hand homes transferred in Greater Bangkok saw a cumulative annual growth of just 1%. This stands in contrast to new homes, which experienced an average annual price growth of 5% during the same timeframe.
Shifting Trends in Average Transfer Prices
While overall transfer data over the past three years indicates a softening trend in both new and resale segments, the price points present a clear divergence. The average transfer price for new homes peaked at 4.71 million baht in 2023, before easing to 4.63 million in 2024 and 4.61 million in 2025. Conversely, the average transfer price for second-hand homes has seen a more consistent decline, falling from 2.44 million baht in 2023 to 2.41 million in 2024 and 2.36 million in 2025.
Greater Bangkok Market Reflects National Trend
The growing appeal of resale homes is also evident in the Greater Bangkok market. In 2020, second-hand properties represented 37% of total residential transfers by volume. This share steadily climbed to 42% in 2021, 49% in 2022, 50% in 2023, 52% in 2024, and reached 54% in 2025.
A similar pattern is observed in transfer value. Second-hand homes accounted for 27% of the Greater Bangkok market in 2020, rising to 30% in 2021, 34% in both 2022 and 2023, 36% in 2024, and 38% in 2025.
Price Segment Performance Highlights Economic Pressures
Nationwide, resale home transfers in the first quarter of 2026 saw increases across all price segments, with the exception of properties priced above 7.5 million baht. This segment falls outside the government’s tax incentives for housing units priced below 7 million baht.
In contrast, new home transfers experienced declines in the 1.01-1.5 million baht price range and across all brackets exceeding 5 million baht. This further underscores the prevailing pressure on purchasing power, particularly impacting buyers of higher-priced properties.
