REIC reports first half of 2026: Bangkok-metro housing supply contracts, but transfers surge 20.8%
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The Real Estate Information Center, or REIC, of the Government Housing Bank released its report on the Bangkok and surrounding-area housing market for the first half of 2026, showing a clear slowdown on the supply side. A total of 89 new residential projects were launched for sale, down 19.8% from the same period a year earlier, amounting to 14,101 units, down 20.9%, with a combined project value of 110.197 billion baht, down 18.0%. Land allocation permits for residential purposes stood at 35 projects covering 6,166 units, down 50.7% and 37.9% respectively. Residential construction permits totaled about 32,217 units, down 1.8%, with the second quarter alone seeing construction permits fall to roughly 11,640 units, a drop of 47.3% from the same period a year earlier. The main causes were household debt that remains at a high level, financial institutions' strictness in extending loans, and rising construction costs, prompting operators to delay new project launches and instead focus on clearing existing stock. Ownership transfers moved in the opposite direction. In the first half of 2026, a total of 79,703 residential units were transferred, up 20.8%, with a combined value of 241.864 billion baht, up 7.0%. In the second quarter alone, 46,031 units were transferred, up 29.6%, worth 137.926 billion baht, up 15.9%. One factor was the rush to complete transfers before the original reduction in transfer and mortgage fees expired on June 30, 2026, before the Cabinet resolved to extend the measure through June 30, 2027. Meanwhile, the second-hand home market grew more strongly than newly built homes, with 45,441 units transferred, up 26.4%, worth 99.722 billion baht, up 16.5%, compared with 34,262 units of newly built housing, up 14.1%, worth 142.142 billion baht, up only 1.3%. This put the ratio of new-home to second-hand-home transfers at 43 to 57. The market segment priced at no more than 1 million baht continued to grow the fastest, with the number of transferred units up 35.2% and value up 33.0%.