Strong Growth in Bangkok and Phuket Luxury Condo Markets

CBRE Reports Strong Growth in Bangkok and Phuket Luxury Condominium Markets, Driving Over THB 2 Billion in Sales in the Lumpini Area Within a Single Quarter

CBRE Thailand, the leading international property consultant, has revealed that Bangkok’s luxury and super luxury condominium market continued to demonstrate strong growth during the first half of 2026, despite ongoing volatility in the global economy. Prime downtown locations remain highly sought after by both Thai and international buyers.

According to CBRE Research, the first half of 2026 saw an increase in new condominium launches across Downtown Bangkok compared with the same period last year, particularly in the luxury and super luxury segments. Completed condominium projects recorded an average sales rate of 93%, with the luxury segment achieving the highest sales rate at 95%. Meanwhile, pipeline projects recorded an average sales rate of 52%, led by the super luxury pipeline segment with an average sales rate of 85%.

Sukhumvit and Central Lumpini continue to be among the most desirable locations for branded residences, owing to their strong appeal as premium residential districts surrounded by major business centers, comprehensive amenities, large-scale retail and world-class mixed-use development destinations. As a result, these areas continue to attract strong demand from both domestic and international buyers.

Ms. Artitaya Kasemlawan, Head of Residential Sales - Project at CBRE Thailand, said, “While many regions around the world continue to face uncertainty from geopolitical tensions and economic pressures, demand for high-quality residences remains resilient. This is reflected in CBRE’s performance, with residential sales in Bangkok and Phuket during the first half of 2026 increasing by more than 182% compared to the same period in 2025.

“In Bangkok, sales surged by over 300%, driven by the launch of new projects in strategic locations. In particular, condominium developments in the Central Lumpini area generated more than THB 2 billion in sales during the second quarter alone. This performance highlights the resilience of the high-end residential market and buyers’ confidence in premium real estate located in the city’s most sought-after locations.

“Affluent buyers continue to seek distinctive residences that cater to unique lifestyles while reflecting their personal identity and long-term values. This trend remains a key driver of demand in both the luxury and super luxury sectors.”

In Bangkok’s Downtown condominium market, Thai buyers accounted for 68% of purchasers, while international buyers represented 32%. The share of foreign buyers increased significantly this year compared to previous years.

The top international buyer nationalities in the super luxury condominium market were Japan, the United Kingdom, Taiwan and Russia, respectively. Compared with the average foreign buyer share of 18% recorded between 2021 and 2025, CBRE believes this trend reflects an increasingly diverse international buyer base. One of the key contributing factors is the growing presence of branded residences, which enhance global recognition and buyer confidence while elevating both the value and prestige of these developments among investors and purchasers worldwide.

Ms. Artitaya added, “Although the period from 2023 through the first half of 2026 represented one of the most challenging times for Thailand’s property market, with luxury and super luxury condominium launches reaching historically low levels, CBRE continued to build strong confidence among high-net-worth buyers. We achieved over THB 8 billion in sales from flagship projects in the Central Lumpini area alone, including The Residences at Dusit Central Park, ONE89 Wireless, El8HTEEN SEVEN and Scope Langsuan.”

This volume of sales demonstrates that demand within the luxury market remains robust; however, developers must focus on creating products that genuinely address the evolving needs of buyers.

Ms. Artitaya continued, “As the buyer landscape continues to evolve, both developers and advisors such as CBRE must adapt their strategies and deepen their understanding of target audiences. We have also identified valuable insights from Central Lumpini, which remains the most sought-after residential location in Bangkok. Transaction volumes in the area were split between leasehold ownership at 55% and freehold ownership at 45%.

“These figures reinforce the view that, in exceptional locations and mixed-use developments, factors such as location quality and project excellence have a greater influence on purchasing decisions than ownership tenure itself.”

Meanwhile, Phuket’s real estate market continues to record strong and sustainable growth. Residential sales increased by more than 45% during the first half of 2026 compared with the same period in 2025, reflecting growing investor confidence and robust demand for premium residential properties.

Ms. Prakaipeth Meechoosarn, Head of Phuket Property Sales at CBRE Thailand, said, “Phuket’s luxury real estate market remains highly attractive to buyers. In particular, branded residence developments have seen a strong market response. PEYLAA Phuket, Autograph Collection Residences, for example, has drawn strong interest since the opening of its show residences in late Q1 this year.”

“Transaction data from CBRE during the first half of the year shows that condominiums in Bang Tao and Cherng Talay remain the island’s most sought-after locations and continue to be key strategic investment areas. International buyers accounted for 67% of purchasers, while Thai buyers represented 33%. The market continues to attract a diverse range of investors from around the world, including buyers from the United Kingdom, Russia, Canada, India, the United States and many European countries. These investors increasingly view Thailand as a preferred destination for expanding their portfolios through high-quality real estate investments.

“The growth we are witnessing today is a testament to Phuket’s status as a global real estate hub capable of continuously attracting investment from high-net-worth individuals and international buyers,” Ms. Prakaipeth concluded.