However, the real estate market is facing its slowest growth in nearly three decades, with around 400,000 unsold residential units nationwide, risky levels not seen since the 1997 Asian financial crisis.
Richer said much of the unsold inventory is concentrated in Bangkok, particularly in the 5–10 million baht price range, reflecting weak domestic demand amid economic headwinds.
A property consultancy, CBRE, forecasted in January 2026 that new condominium launches in Bangkok will continue to decline, falling below 40,000 units this year and dropping further to around 20,000 units in 2027.
Despite geopolitical tensions in the Middle East, Richer noted that high-net-worth investors from the region tend to favour markets such as Europe and Australia, where regulatory frameworks are more predictable.
“Investors are expanding their portfolios in Europe or Australia for stability. Some also remain in Dubai due to tax advantages. Thailand is seen more as a diversification option rather than a core investment destination,” he emphasised.
