Amidst an overall sluggishness and recovery challenges in the real estate market, second-hand residences are emerging as a growing and increasingly popular option. According to data from the Real Estate Information Center of Government Housing Bank (GHB), sales of second-hand residences nationwide in 2Q25 totaled 189,382 units, a 34.6% increase, with a value of THB 758.50 billion, up 5.6% YoY. Compared to the previous quarter, the number of units rose by 4.7%, while value increased by 26.4%.
Second-hand residence sellers consist of: 1) Individual sellers and real estate agents sold 68,834 units, accounting for 36.3%, with the highest value at THB 508.17 billion (67% of total sales value), and highest average price at THB 7.4 million per unit; 2) Legal Execution Department with 67,641 units and THB 120.30 billion in value; 3) Specialized Financial Institutions with 24,858 units and THB 44.39 billion in value; 4) Asset Management Companies with 21,905 units and THB 58.34 billion in value; and 5) Commercial banks with 6,144 units and THB 27.28 billion in value.
Of all second-hand residences, detached houses accounted for 44.1%. Nearly all residence types saw rises in both units and value, except for condominiums, which increased in units by 11.2% but saw a 15.6% decrease in value. The drop was due to cheaper second-hand condos entering the market, reducing the average price from THB 6 million in 2Q24 to THB 4.3 million in 2Q25.
Regarding asking prices, 28.6% of listings were priced no higher than THB 1 million. The segment priced up to THB 7.5 million expanded in both units and value. In contrast, those priced above THB 7.5 million, while comprising 54.5% of total market value, declined in both units and value year-on-year, as supply in this price segment is being continuously absorbed.
Supporting factors include LTV (Loan-to-Value) easing measures across all price levels, allowing buyers easier mortgage access. Second-hand residences are an important choice as they offer similar locations to new projects but at lower prices, resulting in higher demand and faster market absorption for this segment.
However, second-hand dwelling transfers dropped 8.6% in volume and 11.1% in value YoY. All categories saw a decrease, with detached houses having the highest transfer volume at 41.5%. Transfers declined across all price levels, with most transactions being for units under THB 1 million —35.1% of all transfers—reflecting buyers’ focus on accessible price ranges.
Though second-hand residence transfers are currently sluggish, compared to the previous quarter, unit volume rose by 18.2% and value by 16.8%. Key factors aiding the recovery include a reduction in transfer and mortgage registration fees (applicable from April 22, 2025 to June 30, 2026), and three cuts to the policy interest rate since the start of 2025, now at 1.50%.
These factors have helped lower buyers’ expenses and improve loan access, significantly lifting the market from the previous quarter.
Second-hand homes are thus becoming an important alternative, as buyers can live in similar locations as new ones for less money. In a fragile economy, this market segment is cushioning overall transfer volumes from sharp contractions, and is expected to continue supporting transaction growth in the second half of 2025.
