Secondhand Homes Set to Lead Bangkok’s Housing Market Through 2027
The proportion of secondhand residential property transfers in Bangkok and its surrounding areas has continued to increase from 38% in 2019 to 56% of the total residential property transfers in the first half of 2026.
From January 2019 to June 2026, secondhand residential property transfers in Bangkok and its surrounding areas have risen from 38% of total residential property transfers to 56%. This trend is projected to continue into 2027, with secondhand transfers expected to outpace new residential property sales. Several factors contribute to this shift, including high household debt, slowing income growth, and stricter lending standards for housing loans.
Secondhand property prices are typically much lower than those of new properties, making them more accessible to buyers with limited financial resources. In the first half of 2026, secondhand condo transfers accounted for 49% of all secondhand residential property transfers, totaling 20,724 units. The average price for secondhand condos remains stable, ranging from 1.6 to 1.8 million baht per unit, indicating strong affordability and demand.
Despite a slight decrease in the number of residential units listed for sale in Q2/2026, the market still faces the risk of oversupply. The Department of Legal Execution has released more secondary residential units into the market due to consumer debt issues, while specialized financial institutions, commercial banks, and asset management companies are also entering the market.
A SCB EIC survey revealed that interest in secondhand housing has grown across all property types and price ranges, with over 70% of those planning to buy a home in the next five years showing interest in purchasing second-hand properties. This increased interest extends beyond lower-to-middle income earners, attracting high-income groups as well.
Secondary housing supply supports the overall housing market recovery, but the introduction of new projects requires careful consideration. Online platforms and real estate agents can expand their services to provide more comprehensive solutions, leveraging data analytics to enhance customer experience and drive sales. The government could incentivize secondhand housing purchases through tax breaks, low-interest loans, and renovation/relocation loans for existing homes.
Additionally, establishing a database of secondhand housing transactions with accurate appraised and transaction prices would boost market confidence. With a significant amount of secondary housing already in circulation, developers must exercise caution when launching new projects, taking into account cumulative supply, absorption rates, and price levels in each area.
Written by urgent.news from Thailand Business News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.