Thailand Leads in Luxury Branded Residences

According to the latest Asia Branded Residences report by C9 Hotelworks, a prominent hospitality consulting group, the branded residences sector in Asia has surged to a record supply of US$26.6 billion, encompassing 68,001 units. Thailand dominates the market with a significant 23.3% share, trailed by the Philippines at 17.3% and South Korea at 11.6%. Emerging markets including Malaysia, Vietnam, and India collectively hold a 24.5% share.

Key destinations such as Phuket and Bangkok are the driving forces behind Thailand's leadership. Over the past four years, the sector has experienced a compound annual growth rate (CAGR) of 11%, with robust prospects for further expansion. From 2025 onward, an additional 43,100 units across 180 projects are anticipated, nearly doubling the region's supply.

Transformation in the Sector

Thailand currently boasts the highest number of launched units in the primary market, with 12,656 units across 55 projects. Vietnam leads in upcoming supply with 11,390 units from 36 announced developments. The sector is undergoing a transformation, with mixed-use and standalone developments now representing 30% of projects completed between 2020 and 2024, up from just 14% before 2020.

This reflects a growing preference for non-hospitality-branded residences, which now account for 5% of the market, with 90% located in urban areas. An example of this trend is the Porsche Design Tower Bangkok, an ultra-luxury development priced between $15 million and $40 million, demonstrating the entry of global lifestyle brands into the market.

Shift in Market Dynamics

Historically dominated by hotel brands, the luxury branded residence market has experienced a significant shift with the arrival of global lifestyle brands. Over the past three years, Bangkok has gained immense interest from international buyers, elevating its status to a 'lifestyle city' on par with Miami and Dubai. On a city level, Phuket has emerged as the market leader, followed by Manila and Bangkok.