Strong Growth in Bangkok and Phuket Luxury Condo Markets

CBRE Reports Strong Growth in Bangkok and Phuket Luxury Condominium Markets, Driving Over THB 2 Billion in Sales in the Lumpini Area Within a Single Quarter.

By MAGZ20 Business & Property Desk

According to CBRE Research, the first half of 2026 saw an increase in new condominium launches across Downtown Bangkok compared with the same period last year, particularly in the luxury and super luxury segments. Completed condominium projects recorded an average sales rate of 93%, with the luxury segment achieving the highest sales rate at 95%. Meanwhile, pipeline projects recorded an average sales rate of 52%, led by the super luxury pipeline segment with an average sales rate of 85%.

Sukhumvit and Central Lumpini continue to be among the most desirable locations for branded residences, owing to their strong appeal as premium residential districts surrounded by major business centers, comprehensive amenities, large-scale retail and world-class mixed-use development destinations. As a result, these areas continue to attract strong demand from both domestic and international buyers.

Ms. Artitaya Kasemlawan, Head of Residential Sales – Project at CBRE Thailand, said, “While many regions around the world continue to face uncertainty from geopolitical tensions and economic pressures, demand for high-quality residences remains resilient. This is reflected in CBRE’s performance, with residential sales in Bangkok and Phuket during the first half of 2026 increasing by more than 182% compared to the same period in 2025.

“In Bangkok, sales surged by over 300%, driven by the launch of new projects in strategic locations. In particular, condominium developments in the Central Lumpini area generated more than THB 2 billion in sales during the second quarter alone. This performance highlights the resilience of the high-end residential market and buyers’ confidence in premium real estate located in the city’s most sought-after locations.

“Affluent buyers continue to seek distinctive residences that cater to unique lifestyles while reflecting their personal identity and long-term values. This trend remains a key driver of demand in both the luxury and super luxury sectors.”

In Bangkok’s Downtown condominium market, Thai buyers accounted for 68% of purchasers, while international buyers represented 32%. The share of foreign buyers increased significantly this year compared to previous years.

The top international buyer nationalities in the super luxury condominium market were Japan, the United Kingdom, Taiwan and Russia, respectively. Compared with the average foreign buyer share of 18% recorded between 2021 and 2025, CBRE believes this trend reflects an increasingly diverse international buyer base. One of the key contributing factors is the growing presence of branded residences, which enhance global recognition and buyer confidence while elevating both the value and prestige of these developments among investors and purchasers worldwide.

Ms. Artitaya added, “Although the period from 2023 through the first half of 2026 represented one of the most challenging times for Thailand’s property market, with luxury and super luxury condominium launches reaching historically low levels, CBRE continued to build strong confidence among high-net-worth buyers. We achieved over THB 8 billion in sales from flagship projects in the Central Lumpini area alone, including The Residences at Dusit Central Park, ONE89 Wireless, El8HTEEN SEVEN and Scope Langsuan.”

This volume of sales demonstrates that demand within the luxury market remains robust; however, developers must focus on creating products that genuinely address the evolving needs of buyers.

Ms. Artitaya continued, “As the buyer landscape continues to evolve, both developers and advisors such as CBRE must adapt their strategies and deepen their understanding of target audiences. We have also identified valuable insights from Central Lumpini, which remains the most sought-after residential location in Bangkok. Transaction volumes in the area were split between leasehold ownership at 55% and freehold ownership at 45%.

“These figures reinforce the view that, in exceptional locations and mixed-use developments, factors such as location quality and project excellence have a greater influence on purchasing decisions than ownership tenure itself.”

CBRE Thailand, the leading international property consultant, has revealed that Bangkok’s luxury and super luxury condominium market continued to demonstrate strong growth during the first half of 2026, despite ongoing volatility in the global economy. Prime downtown locations remain highly sought after by both Thai and international buyers.

CBRE Thailand reports a sharp rise in high-end residential sales, supported by affluent Thai buyers, growing international demand and the continued expansion of branded residences.

Thailand’s premium residential property market continued to demonstrate strong momentum during the first half of 2026, with luxury and super-luxury condominiums in Bangkok and Phuket outperforming despite uncertainty across the global economy.

According to CBRE Thailand, the company’s residential sales across Bangkok and Phuket increased by more than 182% during the first half of 2026 compared with the same period in 2025. Bangkok delivered the strongest acceleration, with CBRE reporting sales growth of more than 300%, supported by new project launches in strategically important downtown locations. 

Central Lumpini Leads Bangkok’s Luxury Market

Central Lumpini has emerged as one of the strongest-performing luxury residential districts in Bangkok. Condominium developments represented by CBRE in the area generated more than THB 2 billion in sales during the second quarter of 2026 alone.

The result reflects sustained buyer confidence in premium addresses close to Lumpini Park, Wireless Road, Langsuan, Silom, major business districts, luxury retail destinations and large-scale mixed-use developments.

Sukhumvit and Central Lumpini remain especially attractive for branded residences, where buyers are not simply purchasing space. They are also seeking distinctive architecture, professional services, privacy, prestigious branding and a lifestyle connected to Bangkok’s most important commercial and cultural destinations. 

CBRE Research found that completed condominium developments in Downtown Bangkok recorded an average sales rate of 93% during the first half of the year. The luxury segment performed even more strongly, reaching an average sales rate of 95%.

Projects still under development recorded an average sales rate of 52%, while the super-luxury pipeline segment achieved a significantly higher rate of 85%. These figures indicate that buyers remain willing to commit to new projects when the development offers a strong combination of location, design, brand credibility and long-term value. 

More International Buyers Enter Downtown Bangkok

Thai purchasers continued to represent the majority of buyers in Bangkok’s downtown condominium market, accounting for 68% of transactions, while international buyers represented the remaining 32%.

The foreign share represents a significant increase from the average of approximately 18% recorded between 2021 and 2025. Japanese buyers formed the largest international group in Bangkok’s super-luxury market, followed by purchasers from the United Kingdom, Taiwan and Russia. 

This more diverse buyer base is an important development for Bangkok. The city is increasingly competing not only as a place to live, but also as an international destination for wealth preservation, second homes and long-term residential investment.

Branded residences are helping drive this transition. Association with internationally recognised hospitality and lifestyle brands can provide buyers with greater confidence in design standards, property management and service quality while giving developments stronger visibility across global markets. 

More Than THB 8 Billion Across Flagship Projects

CBRE reported more than THB 8 billion in sales from flagship developments in Central Lumpini, including The Residences at Dusit Central Park, ONE89 Wireless, EL8HTEEN SEVEN and Scope Langsuan.

The performance is particularly notable because the period from 2023 through the first half of 2026 was described by CBRE as one of the most challenging periods for Thailand’s property sector, with luxury and super-luxury launches falling to historically low levels. 

Another significant finding was the balance between ownership structures. Approximately 55% of transaction volume in Central Lumpini involved leasehold properties, compared with 45% for freehold residences.

This suggests that buyers at the highest end of the market may place greater importance on the quality of the location, overall development concept, services and mixed-use environment than on ownership tenure alone. In exceptional projects, the complete value proposition can outweigh the traditional preference for freehold ownership. 

Phuket Strengthens Its Position as a Global Residential Hub

Bangkok was not the only luxury market recording growth. CBRE reported that residential sales in Phuket increased by more than 45% during the first half of 2026 compared with the same period in 2025.

The island’s buyer profile was even more internationally driven than Bangkok’s. Foreign purchasers accounted for 67% of CBRE’s Phuket condominium buyers, while Thai buyers represented 33%. Demand came from a broad range of markets, including the United Kingdom, Russia, Canada, India, the United States and several European countries. 

Bang Tao and Cherng Talay remained Phuket’s most sought-after condominium locations and continued to develop as major investment districts. These areas combine access to beaches with resorts, international schools, restaurants, retail, wellness facilities and residential communities that can support both holiday and long-term living.

Branded developments are also gaining momentum on the island. CBRE highlighted the market response to PEYLAA Phuket, Autograph Collection Residences, which attracted strong interest after opening its show residences near the end of the first quarter. 

Two Markets, Two Distinct Luxury Strategies

The Bangkok and Phuket results reveal two complementary sides of Thailand’s high-end property market.

Bangkok’s strength is built around prestigious urban locations, connectivity, business access, mixed-use developments and the scarcity of prime downtown land. Phuket offers an internationally recognised lifestyle destination supported by resort living, coastal locations and a predominantly overseas buyer base.

Taken together, the figures suggest that Thailand’s luxury market is becoming more global, more brand-driven and increasingly focused on experience rather than property size alone. Buyers are looking for residences that communicate identity, provide professional services and retain relevance over the long term. 

However, the growth should not be interpreted as a blanket boom across every condominium category. Demand is highly concentrated around the best locations and projects that clearly differentiate themselves. Developers entering the market will need to understand their target buyers, deliver credible quality and create properties that respond to changing lifestyle expectations.

Outlook

The more than THB 2 billion generated in Central Lumpini within a single quarter sends a strong signal: capital remains available for the right residential product, even when broader economic conditions remain uncertain.

For Bangkok, the next phase of competition will centre on landmark mixed-use developments, branded residences and highly limited prime sites. For Phuket, the opportunity will be shaped by international demand, professionally managed properties and communities designed for both investment and year-round living.

Thailand’s luxury condominium market is therefore moving beyond a simple real estate cycle. It is becoming part of a wider competition for global buyers, international capital and premium lifestyle investment—and Bangkok and Phuket are positioning themselves at the centre of that movement.

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