Foreign Demand Lifts Luxury Condos in Bangkok and Phuket

Thailand’s residential property market continues to face pressure in 2026 from economic uncertainty, softer purchasing power and longer decision-making periods. Nevertheless, luxury and super-luxury condominiums in prime locations are demonstrating greater resilience, particularly in downtown Bangkok and Phuket.

According to CBRE data reported by Bangkok Biz News, CBRE’s residential sales in Bangkok and Phuket increased by more than 182% year on year during the first half of 2026. Foreign buyers accounted for 32% of downtown Bangkok condominium purchasers, while the proportion reached 67% in Phuket’s Bang Tao–Cherngtalay area.

Luxury Condominiums Remain Resilient in a Selective Market

Completed condominium developments in downtown Bangkok recorded an average sales rate of approximately 93%. The luxury segment performed particularly well with a 95% sales rate.

Projects under construction recorded an average sales rate of 52%, while the super-luxury segment achieved a significantly higher rate of 85%.

These figures suggest that affluent buyers remain active but have become more selective. Successful developments increasingly require a combination of prime location, construction quality, a trusted brand and a distinctive residential experience.

The reported growth figures represent CBRE’s sales performance and should therefore be regarded as an indicator of demand in the upper-end segment rather than growth across Thailand’s entire condominium market.

Bangkok Sales Supported by Prime Luxury Developments

CBRE’s Bangkok Sales Increased by More Than 300%

CBRE’s residential sales in Bangkok rose by more than 300% year on year during the first half of 2026. New developments in prime locations were the main contributor, particularly in the central Lumpini area, where sales exceeded THB 2 billion during the second quarter alone.

Between 2023 and the first half of 2026, CBRE generated more than THB 8 billion in sales from flagship projects in central Lumpini, despite the broader slowdown in Thailand’s property market.

Foreign Buyers Accounted for 32%

Thai buyers represented 68% of downtown Bangkok condominium purchasers, while foreign buyers accounted for 32%. This was considerably higher than the average foreign-buyer share of approximately 18% recorded between 2021 and 2025.

The leading foreign buyer groups in the super-luxury segment came from Japan, the United Kingdom, Taiwan and Russia. The wider distribution of nationalities indicates that Bangkok’s upper-end condominium market is becoming increasingly international.

Location and Quality Can Outweigh Tenure

In central Lumpini, approximately 55% of transactions involved leasehold developments, compared with 45% for freehold properties. This suggests that tenure is not always the decisive factor for affluent buyers.

When a development occupies a rare location, forms part of a major mixed-use destination or offers premium services and facilities, buyers may place greater value on location, quality and the overall residential experience.

Central Lumpini and Sukhumvit consequently remain important locations for luxury condominiums and branded residences, supported by convenient access to business districts, luxury retail, hotels and world-class mixed-use developments.

Phuket Sales Grew by More Than 45%

CBRE’s Phuket residential sales increased by more than 45% year on year during the first half of 2026. Condominiums and branded residences in Bang Tao–Cherngtalay continued to attract strong interest from affluent buyers.

Foreign purchasers represented 67% of buyers in the area, compared with 33% for Thai buyers. International demand came from a diverse range of markets, including the United Kingdom, Russia, Canada, India, the United States and several European countries.

This trend indicates that Phuket is evolving beyond a holiday-home market into an international destination for long-term living and investment in premium real estate.

What Buyers, Sellers and Investors Should Consider

Luxury condominium buyers should look beyond branding and asking prices. Important considerations include location fundamentals, developer credentials, building management, long-term ownership costs, foreign ownership quota availability and resale liquidity.

Sellers seeking international buyers should prepare professional photography, accurate English-language information and complete ownership documentation while using marketing channels capable of reaching overseas audiences.

Investors should assess rental income using verifiable market data and include common-area fees, taxes, management expenses and potential vacancy periods before calculating expected returns.

Conclusion

Thailand’s condominium market is not expanding equally across every price segment in 2026. However, high-quality luxury developments in prime Bangkok and Phuket locations continue to attract demand, supported by a growing and increasingly diverse international buyer base.

Whether you are looking to buy a condominium in Bangkok or Phuket, or want to market a property to Thai and international customers, Connex Property can help you compare locations, prices and suitable developments based on your objectives.