Thailand Leads in Branded Residences

Thailand has emerged as the leading market for branded residences in Asia, capturing a significant 23.3% share of the US$266 billion market, according to C9 Hotelworks, a Phuket-based consultancy.

Notably, Bangkok and Phuket have seen an 11% year-on-year growth in 2024, with over 68,000 units sold, as stated by Bill Barnett, Managing Director of C9 Hotelworks.

Competitive Landscape

The Philippines and South Korea follow with 17.3% and 11.6% market shares, respectively. Emerging markets such as Malaysia, Vietnam, and India collectively account for 24.5% of the market.

Phuket stands out with 4,771 units across 26 projects, followed by Manila, Bangkok, Kuala Lumpur, and Pattaya. Hua Hin ranks 10th in unit numbers, as noted by Barnett.

Pricing and Future Prospects

In central Bangkok, branded residences average 291,000 baht per square metre, while resort cities average 161,000 baht per sqm. Luxury-class branded residences can reach up to 445,000 baht per sqm.

Chanond Ruangkritya, CEO of Ananda Development Plc, highlights the post-pandemic surge in branded residences, driven by a shift towards luxury projects amidst a declining mass condominium market.

Ananda's Porsche Design Tower Bangkok, priced at 1 million baht per sqm, is the most expensive in the country. Krit Techasamma, Managing Director of Origin Nationwide Ltd, emphasizes the appeal of luxury branded properties among wealthy foreigners, particularly Russians seeking second homes in Thailand.