Secondhand Housing Transfers Surge in Bangkok as Oversupply Risks Mount

Key summary

The proportion of secondhand residential property transfers in Bangkok and surrounding areas rose from 38% in 2019 to 56% in the first half of 2026. Driven by high household debt, slowing incomes, and stricter lending criteria, buyers are increasingly favoring affordable secondhand units over new ones. Secondhand condos specifically accounted for 49% of all secondhand transfers in H1 2026, with average prices between 1.6 and 1.8 million baht. While listed inventory dropped from a Q1 2026 peak of 243,000 units to 196,000 in Q2 2026, the market faces continued oversupply risks due to a surge of 63,753 distressed and bank-owned units entering the market in Q2. SCB EIC data indicates growing interest across all price ranges, including properties over 10 million baht. Experts suggest government support measures like tax breaks and loan databases could stabilize confidence, while developers are urged to monitor cumulative supply before launching new projects.