PATTAYA, Thailand – The housing market in Bangkok and surrounding provinces is showing a broad-based slowdown across both demand and supply, according to the latest report from the Real Estate Information Center (REIC), part of the Government Housing Bank (GHB).
The REIC report on the Bangkok Metropolitan Region housing situation for Q4 2025 found that overall market activity weakened compared to the same period last year, with declines in ownership transfers, construction permits, land allocation approvals, new project launches, and newly registered completed housing units.
On the demand side, both the number and value of property transfers dropped year-on-year. However, quarter-on-quarter performance showed some improvement, supported by government stimulus measures such as reduced transfer and mortgage fees (down to 0.01%), relaxed loan-to-value (LTV) rules, and short-term economic stimulus policies aimed at boosting confidence in the property sector.
On the supply side, the slowdown was more pronounced. Housing development approvals and construction permits fell across nearly all categories. The steepest decline was seen in commercial shophouses, which plunged by 90.6%, while townhouse permits dropped 21.1%.
Total land allocation permits in Q4 stood at 4,306 units, down 2.6% year-on-year. Detached houses accounted for the largest share at 1,837 units (42.7%). However, only a few segments saw growth, including semi-detached houses, while most others contracted significantly.
For the full year 2025, total land allocation permits in the Bangkok–Metropolitan area dropped sharply by 47.5% to 19,802 units, reflecting cautious sentiment among developers.
Construction permits also declined significantly. In Q4 alone, 9,253 housing units received construction approval, down 31.7% year-on-year. High-rise condominiums saw the steepest drop, falling 79.5%, while low-rise housing decreased 7.7%.
New housing project launches were heavily impacted as well. In Q4 2025, only 6,162 units were launched, a 64.1% drop in volume and a 65.3% decline in value compared to the same period last year.
For the full year, new project launches fell 47.2% in units and 49% in value, indicating developers’ continued caution amid weak purchasing power and market uncertainty.
Completed and registered housing units also decreased by 25.3% in Q4, with most segments declining except semi-detached homes, which surprisingly increased by 90.5%.
Despite government efforts to stimulate the property market, REIC noted that overall conditions remain subdued, with both developers and buyers still adopting a cautious stance.
