2026 Thailand Real Estate Market Outlook

Retail: Total retail supply reached 8.25 million square meters in 2025, with an additional 0.3 million square meters slated for completion in 2026. This new supply growth is projected to outpace tenant absorption, causing average occupancy rates to soften to below 90%.

Hospitality: Bangkok anticipates an influx of more than 4,300 keys in 2026, primarily within the upscale and luxury segments. While this new supply will heighten competition, it is expected to positively impact performance, with occupancy projected to climb by up to 2 percentage points and RevPAR by 3%-4%. 

Residential Condominium: More new launches in the luxury and super-luxury segments, supported by a 93% sales rate for existing supply. Average asking prices in the downtown market are expected to increase by up to 15% year-over-year.

Low-Rise Housing: With increased unsold low-rise housing inventory, developers will meticulously assess demand before new launches. The resale market has become significantly more active, primarily due to purchase certainty and financing availability, as well as the scarcity of new launches in lower segments.

Office: The office market will remain active in 2026, and tenants will continue to benefit from favorable market conditions. The "flight-to-quality" trend persisted in 2025, with many occupiers relocating to newer, higher-grade buildings. Net take-up in 2026 is projected to be slightly below 2025 levels, totaling around 100,000 square meters. 

Industrial and Logistics: The industrial sector has been a standout performer, and CBRE anticipates 2026 will be another active year for industrial land sales. Increasing demand for ready-built factories (RBF) is driving the growth of new supply chains. Low vacancy rates (below 5%) and limited future supply are expected to persist in 2026. The modern logistics property (MLP) sector for new supply to exceed current demand in 2026, leading to an increase in forecast vacancy levels from 10% to 13%.