New data indicates that used homes have become the preferred choice for buyers in Thailand since the onset of the COVID-19 pandemic, with their share of total real estate transactions increasing significantly. According to the Real Estate Information Center (REIC), the total number of residential property transfers in the country reached 72,583 units valued at 187 billion Thai Baht in the first quarter of 2026, marking an increase of 11.2% in volume and 3.1% in value compared to the same period last year.
Among these transactions, used homes accounted for 48,446 units valued at 93.3 billion Baht, representing 67% of total transactions by volume and 59% by value. These figures reflect a clear increase compared to the end of 2025, when the ratios were 64% and 47% respectively.
Details of the Event
Used home sales in the first quarter of 2026 recorded a 13.8% increase in the number of transactions and 7.7% in value compared to the previous year. In contrast, new home sales saw a slight increase of 6.2% in volume but a decline of 1.1% in value. These trends indicate a growing preference for used homes among Thai buyers, amid declining purchasing power due to current economic conditions.
Narongbul Prabhanirin, the Executive Vice President of Marketing at the Government Housing Bank, noted that used homes have become more attractive to buyers due to their lower prices compared to new homes in similar locations. This trend reflects changes in consumer behavior as they seek more economical options.
Background & Context
Over the past few years, the real estate market in Thailand has undergone significant changes. Between 2019 and 2025, the average prices of used homes in the Greater Bangkok area increased by 1% annually, while new homes saw a 5% annual increase. However, transfer data over the past three years indicate downward trends in both sectors.
In 2023, the average transfer price of new homes rose to 4.71 million Baht, but fell to 4.63 million Baht in 2024 and 4.61 million Baht in 2025. Meanwhile, the average price of used homes decreased from 2.44 million Baht in 2023 to 2.41 million Baht in 2024 and 2.36 million Baht in 2025.
Impact & Consequences
Data shows that used home sales now represent an increasing share of total residential transactions in Greater Bangkok, rising from 37% in 2020 to 54% in 2025. Conversely, the value of used homes increased from 27% in 2020 to 38% in 2025.
Transfers of used homes are increasing across all price categories, except for those exceeding 7.5 million Baht, which surpass the government tax incentives for homes valued under 7 million Baht. Meanwhile, new home sales in the price ranges between 1.01 and 1.5 million Baht have declined, highlighting ongoing pressures on purchasing power, especially among buyers seeking higher-priced properties.
Regional Significance
These trends in the Thai real estate market serve as indicators of global economic changes that may impact Arab markets. Amid increasing economic crises, Arab buyers may also turn towards more economical options, such as used homes, reflecting shifts in consumer behavior across various markets.
In conclusion, the rise in used home sales in Thailand signifies a shift in buyer preferences, illustrating the influence of economic conditions on purchasing decisions. It is crucial to monitor these trends to understand how they may affect other markets, including Arab markets.