Thai home ownership dream fades as buyers lose confidence
SCB EIC survey finds 56% of Thais have no plan to buy a home within five years as debt, living costs and tight lending hit demand
The dream of owning a home is slipping further away for many Thais, as weak income growth, high household debt and tougher mortgage screening continue to weigh on the property market.
A 2026 housing-demand survey by SCB EIC found that 56% of respondents had no plan to buy a home within the next five years, up from 47% a year earlier and the highest level in four years.
The findings point to a market problem that goes beyond weak demand. Many people still want to buy a home but are no longer confident they can afford one, while others believe they are unlikely to qualify for a mortgage and therefore choose not to apply at all.
SCB EIC said the main reasons cited by respondents were rising living expenses, existing debt burdens, housing prices that remain beyond purchasing power and uncertainty over the economic outlook.
Economic pressure weighs on buyers
Thailand’s housing market is being squeezed from several directions. Domestically, slow economic growth has limited household purchasing power, while debt and higher day-to-day costs have made long-term mortgage commitments harder to manage.
External risks are also affecting confidence. Global economic uncertainty, together with tensions in the Middle East, has added pressure to investment sentiment among both Thai and foreign buyers, prompting many to delay decisions on property purchases.
What Thais want from the government
When asked which problems required urgent government action, respondents pointed first to living costs and expenses rising faster than income, followed by debt burdens that reduce borrowing capacity and new housing prices that remain too high.
The measures most wanted by the public were not simply sales-stimulus campaigns for developers, but policies that would make home ownership more realistically accessible. These included low-interest loans, affordable housing projects, debt-restructuring measures and payment moratoriums for those affected by economic hardship.
The extension of reduced transfer and mortgage registration fees to 0.01% was also seen as an important tool for people still considering a home purchase.
Income, not sales, is the deeper problem
SCB EIC said existing property stimulus measures may help support the market in the short term, but are unlikely to deliver a sustainable recovery unless deeper structural problems are addressed.
The core issue, it said, is that household income is not keeping pace with expenses. Without stronger income growth, many people are unable to save enough for a down payment or take on long-term mortgage repayments with confidence.
In the medium and long term, policy should therefore focus on income and debt at the same time.
South Korea’s gradual minimum-wage increases between 2018 and 2020 as one example of efforts to improve purchasing power among low-income workers and younger people, while countries such as Singapore, Australia and Canada have used long-term savings systems, tax incentives and housing-linked savings schemes.
Property sector faces a new reality
Beyond affordability, Thailand’s real-estate sector is also facing structural shifts from an ageing society, a declining population and changing lifestyle preferences.
Consumers are showing more interest in energy-saving homes, solar rooftops, green housing, long-term rental projects, co-living models and communities designed for elderly residents. The state may also need to consider ways to turn vacant homes into rental supply, similar to policies being used in Japan, while strengthening consumer protection in the housing sector.
The slowdown in Thailand’s property market is therefore not just a story of weaker sales. It reflects a deeper erosion of home-buying ability, even among people who still aspire to own a home.
Unless income, debt and living-cost pressures are tackled seriously, home ownership for many Thais may remain a dream that keeps moving further out of reach.
