Rising new home prices are driving a surge in the resale market. REIC points out that the lifting of LTV restrictions and reduced transfer fees will support the real estate market in 69.

The Real Estate Information Center (REIC) revealed that in the first quarter of 2026, total property transfers grew by 11.2% due to loan-to-value (LTV) measures and reduced mortgage registration fees. It indicated that rising new home prices led people to focus on buying second-hand homes. The REIC forecasts a 1.1% decline in property transfers for the entire year 2026, hoping for support from government measures. Meanwhile, banks are competing fiercely in the refinancing market.

27 May 2569 Mr. Narongpol Praphanirin, Deputy Managing Director, Marketing Group, Acting Director of the Real Estate Information Center (REIC). It was revealed that the overall housing market situation in the first quarter of 2026, in terms of demand, was reflected in the number of property transfers, showing an upward trend in volume but only slightly growing in value. A total of 72,583 residential units were transferred nationwide, an increase of 11.2%, with a value of 187,182 million baht, an increase of 3.1%. Bangkok continued to dominate with 17,746 units, an increase of 11.1%, but a decrease of 4.5% in value to 64,952 million baht.

“It is noteworthy that key strategic areas in the region include provinces experiencing demand growth. These include Khon Kaen, with 1,646 units sold, an increase of 30.3%, and a value of 3,145 million baht, an increase of 29.0%; and Rayong, with 2,691 units sold, an increase of 24.0%, and a value of 5,745 million baht, an increase of 25.2%. Furthermore, Phuket has the highest growth in property transfer value in the country, with 2,548 units sold, an increase of 17.9%, and a value of 10,365 million baht, an increase of 34.9%. This reflects the transfer of ownership in the high-priced or luxury residential segment in the area.”

For property transfer in Bangkok. It was found that the number of units increased but the value decreased. The total number of units was 17,746, an increase of 11.1%, while the value was 64,952 million baht, a decrease of 4.5%. However, the surrounding areas that continued to expand and maintain positive growth in both units and value included Nonthaburi province, with 3,961 units (an increase of 15.3%) and a value of 11,718 million baht (an increase of 10.5%), and Pathum Thani province, with 4,915 units (an increase of 6.7%) and a value of 10,491 million baht (an increase of 3.7%).

Mr. Narongpol further revealed that, in addition, it was found that in the first quarter of 2026, the proportion of property transfers in terms of second-hand homes was 67%, while new homes accounted for only 33%.

The price groups that are showing a positive trend, or those that continue to expand well and are the main drivers of the market in the first quarter of 2026, are:

Price range not exceeding 7 million baht. A total of 69,447 property transfers were recorded, an increase of 12.7%, with a total value of 141,242 million baht, an increase of 11.5%. This included 21,990 newly built homes (an increase of 8.7%) valued at 61,716 million baht (an increase of 6.7%) and 47,457 second-hand homes (an increase of 14.7%) valued at 79,526 million baht (an increase of 15.5%).

“We found that purchasing behavior has shifted from focusing on size and luxury to buying based on necessity and budget. Secondhand homes have become a primary choice because they reflect the original cost price. Furthermore, they are often located in better locations or in city centers, where it is currently difficult to find land for new development projects. If new projects are available, they are often located far away and inconvenient to access.”

This It is noteworthy that the high-end residential segment, priced above 7 million baht, has experienced a significant contraction in the number of units, both new and resale. A total of 3,136 property transfers were conducted, a decrease of 14.8%, with a total value of 45,940 million baht, a decrease of 16.3%.

“In the first quarter, property transfer figures showed strong growth of 11%, particularly for homes priced below 7 million baht. This was due to two key government measures: the relaxation of loan-to-value (LTV) ratios, which the Bank of Thailand has now extended to support the real estate market; and the reduction of transfer and mortgage registration fees for properties priced under 7 million baht. The government is expected to extend this measure beyond its expiration at the end of June 2026. The reason for the slowdown in home sales above 7 million baht is the tightening of controls on Chinese investment, which has slowed sales in the luxury home segment.”

Regarding the transfer of ownership of condominiums to foreigners. A clear contraction was observed in the overall picture of property transfers. In the first quarter of 2026, there were 3,241 condominium units transferred to foreigners, a decrease of 17.3%, with a value of 13,464 million baht, a decrease of 17.9%. Property transfers to foreigners continue to play a significant role, accounting for 13.6% of all condominium units transferred, while the value of these transfers accounted for 23.9% of the total value of all condominium transfers.

The top three nationality groups with the highest number of property transfers are:

• China recorded the highest number of property transfers, totaling 906 units, a decrease of 38.8%, and a value of 3,493 million baht, a decrease of 42.9%.
• Russian is a nationality that has shown clear counter-trend growth, ranking second with 383 registrations, an increase of 33.0%, and a value of 1,665 million baht, an increase of 68.7%.
• Myanmar emerged as the third-largest buyer group in both unit count and value, with 279 units purchased, a decrease of 36.4%, and a value of 968 million baht, a decrease of 39.0%.

However, popular destinations for foreigners remain concentrated in tourist cities and economic centers, including:

• Bangkok had the highest value at 6,138 million baht, representing 45.6% of the total foreign market.
• Chonburi province had the highest number of transfer units, with 1,167 units or 36.0%.
• Phuket province stands out the most in terms of value growth, soaring by 34.9%, driven by the high-end or luxury residential segment.

Mr. Narongpol revealed that the housing loan situation is beginning to show positive signs of recovery after facing continuous contraction since the fourth quarter of 2023. In the first quarter of 2026, the value of new personal housing loans disbursed nationwide totaled 121,557 million baht, an increase of 11.1%. This resulted in the overall outstanding personal housing loan balance across the system reaching 5,137,832 million baht, an increase of 2.4%.

This The key issues happening in the market right now. คือ The significant expansion of the refinancing market. In the current economic climate, commercial banks are cautious about granting new loans and are focusing on low-risk loans. This involves selecting customers with good repayment histories from other financial institutions for refinancing.

“Currently, the proportion of refinancing loans in the system has increased to 14% of the total loan portfolio. Back in 2018, this proportion was only 6%, meaning the refinancing market has doubled in recent years. Meanwhile, competition in the home loan market has intensified as other loan types often experience negative growth, leading banks to flock to the secured housing loan market by launching low-interest rate campaigns to attract refinancing customers.”

Regarding the housing market trends in 2569: Despite the downward trend driven by conflicts in the Middle East and the resulting energy crisis, positive factors have prevented the housing market from experiencing a smaller decline than initially anticipated.

This is based on the National Economic and Social Development Council's (NESDC) GDP growth estimate, which projects expansion in the range of 1.5 – 2.5%, driven by fiscal measures such as the emergency decree authorizing borrowing of 400,000 billion baht and the Bank of Thailand's extension of loan-to-value (LTV) measures.

Based on these supporting factors, REIC has revised its estimates under a framework of various factors and variables, forecasting approximately 312,814 property transfer units, a decrease of 1.1%, and a value of approximately 845,235 million baht, a decrease of 2.3%.

Mr. Narongpol revealed that the conflict in the Middle East is expected to cause new home prices to rise as increased costs are passed on to housing prices. He forecasts that future home prices will increase by approximately 5-10%.

“Although the construction price index is projected to increase by only 1.2% in the first quarter of 2026 due to not yet being fully impacted by the energy crisis, the true impact is expected to become evident in the second quarter. The construction price index is projected to rise to 10%, with higher costs coupled with an economic slowdown and inflation soaring to almost 3%, which will affect people's borrowing capacity and purchasing decisions.”

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