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6 Jul 2026

Econ Digest

In 2026, the cumulative stock of unsold housing units nationwide is expected to surpass 600,000 units.

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  • ​In 2026, the nationwide inventory of unsold housing units is projected to increase by 4.5% from the previous year, exceeding 610,000 units. This is mainly driven by a rise in second-hand homes listed for sale, while the supply of new housing is expected to decline due to fewer new project launches.
  • The extension of the housing transfer fee reduction measure is a positive factor amid elevated unsold housing inventory levels, while home buying activity has yet to show a clear recovery.
  • The housing market continues to face challenges from a supply-demand imbalance , as the nationwide inventory of unsold housing units, including both new and second-hand homes, has accumulated at an accelerating pace. This contrasts with slowing housing demand, which has yet to show clear signs of recovery. Currently, the stock of unsold housing units is nearly twice the average annual number of housing transfers nationwide. As a result, competition in the housing market has intensified, giving consumers greater bargaining power and a wider range of choices. However, economic uncertainty and still-fragile purchasing power continue to weigh on developers' marketing strategies, sales performance, and overall business results.
  • In the first quarter of 2026, the nationwide inventory of unsold housing units reached 590,000 units, up 7% YoY. The increase was driven primarily by a growing number of second-hand homes being listed for sale by individual homeowners seeking to reduce their property holdings, as well as by financial institutions and asset management companies placing a large volume of properties on the market. According to the Real Estate Information Center (REIC), the number of second-hand homes listed for sale totaled 240,000 units, surging by 34% YoY. Meanwhile, the inventory of unsold new housing units held by developers declined slightly, reflecting a slowdown in new project launches. The number of unsold new housing units stood at 350,000 units, down 6% YoY, although it remained at a relatively high level.
  • More than half (52%) of the nationwide unsold housing inventory is concentrated in Bangkok and its metropolitan area, totaling over 310,000 units. Meanwhile, major economic provinces such as Chonburi, Phuket, and Chiang Mai have also recorded significant increase in the inventory of both new and second-hand housing units.
  • More than 60% of the cumulative unsold housing inventory is concentrated in the price segment below THB 3 million, totaling approximately 355,000 units. However, a notable trend is the sharp increase in unsold housing units, both new and second-hand, priced above THB 10 million. In the first quarter of 2026, this segment surged by 48% YoY, reaching 46,000 units, driven primarily by a rise in second-hand homes entering the market. This development could narrow investment opportunities for property developers in the period ahead, as many developers have increasingly shifted their focus toward the high-end segment in recent years to avoid intense competition in lower-priced market segments.
  • KResearch remains cautious about the outlook for the housing market in the second half of 2026. Although the market is receiving support from the extension of the reduced transfer and mortgage registration fee measures for residential properties that are valued at no more than THB 7 million, economic uncertainty and fragile purchasing power continue to weigh on demand. As a result, KResearch expects nationwide housing transfers in 2026 to grow by 2.1% from the previous year, following a 13.4% YoY increase during the first four months of 2026. Meanwhile, the nationwide inventory of unsold housing units is projected to rise by 4.5% YoY to more than 610,000 units, driven by an increase in second-hand homes being listed for sale, while the stock of new housing units is expected to decline due to fewer new project launches.​


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