CBRE Sees Luxury Property Growth in Bangkok, Phuket, Pattaya

CBRE says Thailand's luxury and super-luxury property market still has growth potential in 2027, with prime locations in central Bangkok, Phuket shifting to a global residential market, and Pattaya boosted by the Eastern Economic Corridor. Branded residences are set to launch continuously, and CBRE reported that upper-market sales in the first half of 2026 reached 62%. The firm will host the CBRE Elite Living 2026 event on October 16, 2026, featuring 57 projects with starting prices of 7.9 million baht for both homebuyers and investors.

On October 16, 2026, Ms. Atittaya Kasemlaowan, Head of Residential Project Sales at CBRE Thailand, said the luxury and super-luxury property market in Thailand for 2027 remains worth watching, including new project expansion, location competition, and high purchasing power demand. Bangkok continues to be the center of the high-end residential market, while Phuket is transitioning from a tourist city to an international residential market, and Pattaya receives support from economic expansion and investment in the Eastern Economic Corridor.

Another key trend is the growth of branded residences—housing projects under hotel and international brands—which are expected to increase as developers seek to differentiate their projects and expand their high-end customer base.

According to CBRE Research under the CBRE Elite Living 2026 program, the luxury-and-above residential market in Thailand remains strong, with total sales in the first half of 2026 at 62%. Comparing 2019 to Q2 2026, supply increased by 315% while sold units grew by 368%, showing that demand is expanding alongside supply.

For the luxury and super-luxury condominium market in Bangkok and its vicinity, completed projects have a sales rate of 93%, while projects under construction have a sales rate of 84%, reflecting demand from high‑purchasing‑power buyers, both Thai and foreign.

In addition, data from 2025 shows that Chon Buri and Phuket have the highest share of foreign ownership transfers for condominiums at 41% each, up from 2019 and remaining high, whereas the national average is 25% and Bangkok stands at 24%, up from 13‑15% in 2019, indicating expanding and diversifying foreign demand.

Bangkok focuses on central locations such as Langsuan, Witthayu, Asok, and Thong Lo, where land is limited and luxury and super‑luxury projects are located. Competition is expected to emphasize location quality, design, privacy, and living standards.

Meanwhile, Phuket is undergoing a structural shift from a tourism‑driven market to a residential market, attracting genuine residents, long‑term expatriates, remote workers, and foreign investors. CBRE Research notes that average annual condominium sales in Phuket rose from about 1,100 units in 2015‑2019 to 5,200 units in 2023‑2025, while villa sales increased from an average of 130 units per year to 500 units.

In the first half of 2026, condominiums priced at 8 million baht and above saw sales growth of 11% year‑on‑year, setting a new record, while villas priced at 90 million baht...