Thailand Real Estate Market Outlook 2025

Residential: The residential sector in Bangkok is well-developed and heavily reliant on the domestic market. Difficulties in obtaining finance for both developers and buyers have severely limited new project launches and sales volumes.
Office: The Bangkok office market continues to see high-quality new supply entering at levels far exceeding demand. This new supply significantly impacts the overall market, allowing companies to choose between remaining in their existing premises or relocating. 2024 saw the highest level of net take-up in five years, with a combination of new setups and relocations from older buildings to recently completed, international standard, ESG-certified office buildings. 
Retail: Bangkok’s retail market remains dynamic and lively, with downtown malls constantly enhancing their appeal to attract high-spending international tourists and boost mall performance. With more new supply expected to enter the market in 2025, the retail landscape will continue to be active. The market will see a steady supply of new enclosed malls across all areas of Bangkok in the coming years.
Hospitality: 2024 was another strong year for the Thai hospitality sector, and in 2025, international tourist arrivals are expected to increase further, approaching the peak numbers achieved in 2019. This optimism is supported by improved flight capacity and sustained government initiatives to ease travel entry requirements. In 2024, visa-free travel was available to citizens of 93 countries, positively impacting overall hotel occupancy rates. Consequently, average daily rates and revenue per available room metrics for Bangkok also reached new highs in 2024. 
Industrial and Logistics: Demand remains strong in the industrial sector, primarily within the EEC region and nearby provinces.  Government initiatives to attract international companies through targeted incentives continue to yield results, particularly for land sales within industrial estates. This has, in turn, fueled demand from second- and third-tier suppliers for ready-built factories.