Q4 2025 second-hand housing supply surges 30%, exceeding 220,000 units
Thailand’s resale housing market ended 2025 with sharply higher listings, while weaker ownership transfers pointed to still-fragile purchasing power.
- In Q4 2025, the number of second-hand homes listed for sale nationwide increased by 29.8% year-on-year to a total of 226,278 units.
- The surge was most pronounced in the condominium segment, where listings grew by 79.1%, and in properties priced above THB10 million, which saw a 63.2% rise.
- While detached houses still make up the largest portion of the market (40%), condominiums showed the strongest growth in supply.
- Despite the significant increase in listings, demand weakened, with actual property ownership transfers declining by 6.5% compared to the previous year.
The Real Estate Information Centre (REIC) of the Government Housing Bank has released its analysis of the nationwide second-hand housing market for Q4 2025, finding that the number of second-hand homes listed for sale nationwide stood at 226,278 units, up 29.8% from the same period a year earlier, while total value surged to THB1.20 trillion, up 54.7%.
However, compared with the previous quarter, the number of listed units fell 7.0% and total value declined 12.6%, reflecting a short-term slowdown at year-end.
The market was still driven mainly by smaller sellers, with private individuals and property agents accounting for the largest share at 44.3% of all listed properties and 80.6% of total market value.
Detached houses still dominate the market, while condominiums post the strongest growth
When broken down by housing type, detached houses remained the main product in the second-hand market, with 90,502 units listed for sale, accounting for 40% of the market, and a total value of THB532,566 million.
They were followed by condominium units at 70,611 units, or 31.2%, and townhouses at 57,257 units, or 25.3%.
Although detached houses held the largest share, condominiums were the fastest-growing segment, with listed units rising 79.1% and value increasing by as much as 141.7% year-on-year, reflecting clear selling pressure in the condo market.
Homes priced above THB10 million surge the most, but the core market remains at the lower end.
Another notable signal was the expansion of higher-priced properties.
Homes priced above THB10 million saw the number of listings rise 63.2% and value increase 70.4%.
However, the overall market structure remained concentrated in the lower price brackets, with second-hand homes priced at no more than THB1 million recording the highest number at 55,536 units, or 24.5% of the market, while the average price of second-hand homes nationwide stood at around THB5.3 million per unit.
Bangkok remains the centre of the second-hand market
Geographically, the 10 provinces with the highest listing value were Bangkok, Chon Buri, Nonthaburi, Samut Prakan, Phuket, Pathum Thani, Chiang Mai, Surat Thani, Prachuap Khiri Khan and Rayong.
Together, these 10 provinces accounted for 87.5% of the total listing value nationwide.
Bangkok clearly ranked first, with 71,275 listed properties, or 31.4% of the national total, and a total value of THB729,012 million, representing 60.7% of the total market value.
Demand remains sluggish as transfers fall 6.5%
Although supply increased significantly, demand has yet to fully recover.
In Q4 2025, transfers of ownership of second-hand homes nationwide totalled 55,592 units, down 6.5% from the same period a year earlier, with a total value of THB113,651 million, down 8.2%.
Detached houses remained the most transferred property type at 23,541 units, or 42.3% of all transfers.
When considered by price range, most transfers were concentrated in the under-1-million-baht segment, accounting for 34% of total transferred units.
The highest transfer value was recorded in the THB2.01–3.00 million range.
However, transfers declined across almost every price range, except for homes priced above THB10 million, where transfer value rose slightly by 2.6%.
A supply surge is evident, but purchasing power has yet to catch up
The overall second-hand housing market at the end of 2025 therefore reflected four clear conditions: a rise in listed properties, particularly in the condominium segment and in higher-priced homes; selling pressure from owners and asset disposals from multiple sectors; consumer purchasing power that had yet to fully recover; and a second-hand housing market that remained in a state of structural slowdown despite continued growth in system-wide supply.
