Thinking about snagging a bargain in Thailand’s second-hand condo market? By 2025, shifts in demand, pricing and buyer preferences could reshape opportunities for savvy investors and expats alike. Whether you’re hunting for a holiday home or a long-term investment, understanding these trends is key to making a smart move.
So what’s driving the market? Rising interest rates and tighter regulations might slow things down, but prime locations like Bangkok and Phuket could still see steady demand. And with more sellers entering the market, negotiation power may tilt in your favour. This article breaks down the latest projections, hotspots to watch and pitfalls to avoid—so you’ll know exactly where to focus your search. Ready to immerse?
Overview of the Q1 2025 Condo Market in Thailand
The Thai condo market experienced a downturn in Q1 2025, with nationwide transfers dropping by 7.3% year-on-year to 21,814 units. The total value fell by 11.1% to 56 billion baht, though demand for resale condos in Thailand remained resilient in mid-range segments.
What factors are driving interest in second-hand condos?
Affordability and location are key drivers for second-hand condo demand. With new condo prices rising, buyers are turning to resale units for better value—often securing similar amenities and prime locations at lower costs. The mid-range segment (1.01–1.5 million baht) saw a 47.8% surge in new transfers, but resale condos offer competitive pricing without the premium of newly completed projects.
How does the performance of new condo transfers compare?
New condo transfers declined across most price brackets, falling between 7% and 24.3% in Q1 2025. The exception was the 1.01–1.5 million baht range, which spiked due to project completions in Greater Bangkok. But, second-hand condos outperformed in stability, with steady demand offsetting the broader market slump.
Price Segment Breakdown of Second-Hand Condo Transfers
The second-hand condo market in Thailand shows varied performance across price segments, with notable growth in mid-to-high-tier properties. Here’s a closer look at the trends shaping demand and value.
Which price range saw the strongest growth and why?
The 7.51–10M baht segment recorded the highest growth, with a 20.4% increase in volume and a 19.2% rise in value. This surge reflects growing buyer interest in premium resale condos, driven by better value compared to new developments in prime locations like Bangkok and Phuket. Investors and expats target these properties for long-term appreciation, avoiding the premium prices of newly launched units.
What caused declines in low and ultra-high-end segments?
The sub-1M baht segment fell by 3.3%, while the 1.01–1.5M baht range dropped by 2.3%. Limited availability and affordability constraints pushed buyers toward mid-range options. The over-10M baht segment declined by 5.3%, as ultra-high-end buyers faced stricter financing regulations and fewer resale options in exclusive areas.
Foreign Buyer Influence on the Second-Hand Market
Foreign buyers continue shaping Thailand’s second-hand condo market, accounting for 29.3% of total transaction value in Q1 2025. Even though a broader market slowdown, demand from overseas investors remains resilient, particularly in key locations like Bangkok and Phuket.
Which foreign markets are most active?
China dominates foreign condo purchases, with 1,481 units worth 6.12B baht transferred in Q1 2025—even after a 19.2% drop. Myanmar follows, recording 439 units (+12% volume growth), while Russia shows steady interest with 288 units and a 6.9% rise in value. These trends highlight shifting preferences among international buyers, with mid-range condos gaining traction due to affordability and prime locations.
How is the government responding to foreign investment trends?
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Thailand’s government is tightening regulations to curb nominee structures, particularly in high-demand areas. Memorandums of Understanding (MoUs) with foreign governments aim to increase transparency, ensuring investments comply with local ownership laws. This scrutiny reflects efforts to balance market growth with legal oversight, protecting both buyers and the integrity of the property sector.
Regional Hotspots for Second-Hand Condo Transfers
Phuket, Surat Thani, and Rayong are leading Thailand’s second-hand condo market, with transfer growth rates of 9%, 6.2%, and 3.8% respectively. Foreign demand and post-pandemic recovery are driving this upward trend.
Why are these regions experiencing growth?
Strong foreign interest and lifestyle-driven purchases fuel growth in these areas. Phuket’s appeal as a holiday destination boosts demand, while Surat Thani benefits from its proximity to Koh Samui. Rayong attracts buyers seeking industrial and coastal advantages.
Post-pandemic recovery plays a key role, with buyers prioritising locations offering work-life balance. Visible quake damage assessments in other regions also redirect demand towards these stable markets.
Foreign investors, particularly from China, Myanmar, and Russia, favour mid-range condos for affordability and prime locations. Government regulations ensure compliance, adding confidence to transactions.
Ready to explore the best deals? The next section breaks down pricing trends to help you secure value in these hotspots.
Summary
The second-hand condo market in Thailand is evolving with clear opportunities for savvy buyers in 2025. While broader market challenges persist, mid-range resale condos and key locations like Bangkok and Phuket continue to attract steady demand. Foreign buyers remain a driving force with mid-to-high-tier properties seeing notable growth.
Regional hotspots such as Phuket and Surat Thani offer promising potential thanks to strong foreign interest and lifestyle appeal. By staying informed on pricing trends and regulatory changes you can navigate this dynamic market effectively. Whether you’re an investor or an expat understanding these shifts will help you secure the best value.