Key Insights
The Thailand commercial real estate market, valued at approximately $17 billion in 2025, exhibits robust growth potential, projected to expand at a 5.97% CAGR from 2025 to 2033. This expansion is driven by several key factors. Firstly, Thailand's burgeoning tourism sector fuels demand for hospitality real estate, particularly in key cities like Bangkok, Chiang Mai, Hua Hin, and Koh Samui. The robust growth of e-commerce and logistics also significantly boosts the industrial and logistics segment. Furthermore, increasing foreign direct investment and a growing middle class contribute to the expansion of office and retail spaces. While the market faces potential restraints such as economic fluctuations and global uncertainties, the long-term outlook remains positive, supported by ongoing infrastructure development and government initiatives promoting sustainable urban development. The diverse segment composition, including office, retail, industrial & logistics, and hospitality properties, presents opportunities for investors across various risk profiles. The presence of major players like CBRE Thailand, Colliers International Thailand, and JLL Thailand, alongside numerous local developers and agencies, indicates a competitive yet dynamic market landscape.
Thailand Commercial Real Estate Industry Market Size (In Billion)
The market segmentation reveals significant variations in demand across different property types and locations. Bangkok, as the economic hub, commands the largest market share, followed by other major cities. The "Others" category within the "By Type" segmentation likely includes specialized properties like medical facilities or data centers, segments experiencing their own growth trajectories driven by specific technological and societal shifts. The presence of numerous real estate agencies and developers suggests a competitive market with varied offerings, catering to diverse investor and tenant needs. Analyzing the historical data from 2019-2024, coupled with the projected CAGR, paints a picture of sustained growth, although potential adjustments to the forecast may be necessary based on evolving economic conditions and geopolitical events. The market is ripe for further analysis to isolate the specific drivers and restraints within each segment, allowing for more precise investment and development strategies.
Thailand Commercial Real Estate Industry Company Market Share
Thailand Commercial Real Estate Industry Report: 2019-2033
This comprehensive report provides an in-depth analysis of the Thailand commercial real estate market, covering the period 2019-2033, with a focus on 2025. It offers actionable insights for industry professionals, investors, and stakeholders seeking to understand market dynamics, identify growth opportunities, and navigate the competitive landscape. The report leverages extensive data and expert analysis to deliver a clear picture of this dynamic sector.
Thailand Commercial Real Estate Industry Market Structure & Innovation Trends
This section analyzes the market structure of Thailand's commercial real estate sector, highlighting key trends and drivers of innovation. We examine market concentration, identifying the leading players and their respective market shares. The report explores the role of regulatory frameworks, the presence of product substitutes, and the influence of end-user demographics on market dynamics. Furthermore, we delve into mergers and acquisitions (M&A) activity, quantifying deal values and assessing their impact on market consolidation.
- Market Concentration: The market is characterized by a mix of large multinational players and local firms. Top players (Colliers International Thailand, Savills, CBRE Thailand, JLL Thailand) account for an estimated xx% market share in terms of transaction volume.
- Innovation Drivers: Technological advancements (PropTech), sustainable building practices, and evolving consumer preferences drive innovation within the sector.
- Regulatory Frameworks: Government policies and regulations concerning land use, construction, and foreign investment significantly impact market development.
- M&A Activity: The past five years have witnessed xx Million in M&A deals, primarily driven by consolidation among developers and real estate agencies.
Thailand Commercial Real Estate Industry Market Dynamics & Trends
This section provides a detailed analysis of the Thailand commercial real estate market dynamics. We examine market growth drivers, encompassing factors such as economic growth, urbanization, and tourism. The analysis further explores technological disruptions, including the impact of PropTech, and how these influence consumer preferences and shape competitive dynamics. Key metrics like Compound Annual Growth Rate (CAGR) and market penetration are provided for major segments. We also assess the impact of evolving consumer preferences and the growing demand for sustainable and technologically advanced commercial spaces. The forecast period (2025-2033) projects a xx% CAGR for the overall market.
Dominant Regions & Segments in Thailand Commercial Real Estate Industry
This section identifies the dominant regions and segments within the Thailand commercial real estate market. Bangkok remains the leading city, capturing xx% of the total market value, driven by strong economic activity and infrastructure development.
By Type: The office segment is the largest, holding xx% market share, followed by retail (xx%), industrial and logistics (xx%), hospitality (xx%), and others (xx%).
By Key Cities:
- Bangkok: Strong economic activity, established infrastructure, and high demand drive dominance.
- Chiang Mai: Growing tourism and a developing tech sector fuel growth.
- Hua Hin: A popular tourist destination, leading to high demand for hospitality properties.
- Koh Samui: Similar to Hua Hin, it benefits from tourism-related demand.
- Rest of Thailand: This region exhibits diverse market dynamics, with growth potential dependent on local economic conditions and infrastructure development.
Key Drivers: Economic growth, tourism, infrastructure development, and government policies are primary factors driving segment and regional dominance.
Thailand Commercial Real Estate Industry Product Innovations
This section highlights recent product developments and innovative applications within the Thai commercial real estate sector. The focus is on technological trends such as smart building technologies, sustainable design, and the integration of PropTech solutions to enhance efficiency and user experience. These innovations are improving market competitiveness, driving demand, and shaping the future of commercial real estate in Thailand.
Report Scope & Segmentation Analysis
This report covers the Thailand commercial real estate market from 2019 to 2033. The base year is 2025, with forecasts extending to 2033. The historical period analyzed is 2019-2024. The market is segmented by type (Office, Retail, Industrial and Logistics, Hospitality, Others) and by key cities (Bangkok, Chiang Mai, Hua Hin, Koh Samui, Rest of Thailand). Each segment’s analysis includes growth projections, market size estimations, and a competitive landscape overview. For example, the office segment is expected to grow at a CAGR of xx% during the forecast period, driven primarily by increased demand from multinational corporations and technology firms.
Key Drivers of Thailand Commercial Real Estate Industry Growth
The growth of Thailand's commercial real estate market is fueled by several factors. Robust economic growth, increasing urbanization, and a thriving tourism sector drive significant demand for commercial spaces. Government initiatives promoting infrastructure development and foreign investment further stimulate market expansion. Technological advancements, particularly within the PropTech sector, are also contributing to increased efficiency and innovation.
Challenges in the Thailand Commercial Real Estate Industry Sector
Despite its growth potential, the Thai commercial real estate industry faces challenges. These include regulatory hurdles that can complicate development projects, supply chain disruptions affecting construction timelines and costs, and intense competition among developers and real estate agencies. These factors can impact profitability and market stability.
Emerging Opportunities in Thailand Commercial Real Estate Industry
The Thailand commercial real estate market presents several emerging opportunities. The increasing adoption of sustainable building practices and technological advancements, like smart building technologies, creates opportunities for innovative developers and investors. The rise of e-commerce and the expansion of logistics networks drive demand for modern warehousing and distribution facilities. Moreover, the growing tourism sector continues to fuel demand for hospitality properties in key tourist destinations.
Leading Players in the Thailand Commercial Real Estate Industry Market
The Thailand commercial real estate market is characterized by a diverse range of players. Key players include:
- Colliers International Thailand (3)
- Hipflat (2)
- Supalai Company Limited (4)
- RE/MAX Thailand (1)
- Central Pattana PLC (2)
- Savills (4)
- Dot Property (List not exhaustive, 6)
- Knight Frank Thailand* (1)
- CBRE Thailand
- Other Companies (Start-ups & Associations) (5)
- JLL Thailand (3)
- Pace Development Corporation PLC
- Real Estate Agencies (1)
- Property Perfect (5)
- Blink Design Group* (4)
- Raimon Land PCL (3)
- DDProperty
Key Developments in Thailand Commercial Real Estate Industry
- February 2024: Central Retail Corporation allocated USD 613 to USD 669 Million for expansion in 2024, signifying significant investment in the retail sector.
- December 2023: FitFlop expanded its retail presence in Thailand, indicating growing confidence in the market and potential for further growth in the retail segment.
Future Outlook for Thailand Commercial Real Estate Industry Market
The future outlook for the Thailand commercial real estate market remains positive. Continued economic growth, infrastructure development, and sustained tourism are expected to drive demand. Strategic investments in sustainable and technologically advanced commercial spaces will shape the sector's future, presenting lucrative opportunities for investors and developers alike. The market's dynamism and potential for innovation position Thailand as a key player in the Southeast Asian commercial real estate landscape.
Thailand Commercial Real Estate Industry Segmentation
-
1. Type
- 1.1. Office
- 1.2. Retail
- 1.3. Industrial and Logistics
- 1.4. Hospitality
- 1.5. Others
-
2. Key Cities
- 2.1. Bangkok
- 2.2. Chiang Mai
- 2.3. Hua Hin
- 2.4. Koh Samui
- 2.5. Rest of Thailand
Thailand Commercial Real Estate Industry Segmentation By Geography
- 1. Thailand
Thailand Commercial Real Estate Industry Regional Market Share
Geographic Coverage of Thailand Commercial Real Estate Industry
Thailand Commercial Real Estate Industry REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 5.97% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Overall economic growth driving the market; The growth of business and industries driving the market
- 3.3. Market Restrains
- 3.3.1. Fluctuating economic conditions hindering the growth of the market; Difficulty in landownership and leasing rights affecting the market
- 3.4. Market Trends
- 3.4.1. Growing Demand for Retail Spaces in Thailand
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Thailand Commercial Real Estate Industry Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Type
- 5.1.1. Office
- 5.1.2. Retail
- 5.1.3. Industrial and Logistics
- 5.1.4. Hospitality
- 5.1.5. Others
- 5.2. Market Analysis, Insights and Forecast - by Key Cities
- 5.2.1. Bangkok
- 5.2.2. Chiang Mai
- 5.2.3. Hua Hin
- 5.2.4. Koh Samui
- 5.2.5. Rest of Thailand
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. Thailand
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2025
- 6.2. Company Profiles
- 6.2.1 Developers
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 3 Colliers International Thailand
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 2 Hipflat
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 2 Supalai Company Limited
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 4 RE/MAX Thailand
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 1 Central Pattana PLC
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 2 Savills
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 4 Dot Property**List Not Exhaustive
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.9 6 Knight Frank Thailand*
- 6.2.9.1. Overview
- 6.2.9.2. Products
- 6.2.9.3. SWOT Analysis
- 6.2.9.4. Recent Developments
- 6.2.9.5. Financials (Based on Availability)
- 6.2.10 1 CBRE Thailand
- 6.2.10.1. Overview
- 6.2.10.2. Products
- 6.2.10.3. SWOT Analysis
- 6.2.10.4. Recent Developments
- 6.2.10.5. Financials (Based on Availability)
- 6.2.11 Other Companies (Start-ups Associations)
- 6.2.11.1. Overview
- 6.2.11.2. Products
- 6.2.11.3. SWOT Analysis
- 6.2.11.4. Recent Developments
- 6.2.11.5. Financials (Based on Availability)
- 6.2.12 5 JLL Thailand
- 6.2.12.1. Overview
- 6.2.12.2. Products
- 6.2.12.3. SWOT Analysis
- 6.2.12.4. Recent Developments
- 6.2.12.5. Financials (Based on Availability)
- 6.2.13 3 Pace Development Corporation PLC
- 6.2.13.1. Overview
- 6.2.13.2. Products
- 6.2.13.3. SWOT Analysis
- 6.2.13.4. Recent Developments
- 6.2.13.5. Financials (Based on Availability)
- 6.2.14 Real Estate Agencies
- 6.2.14.1. Overview
- 6.2.14.2. Products
- 6.2.14.3. SWOT Analysis
- 6.2.14.4. Recent Developments
- 6.2.14.5. Financials (Based on Availability)
- 6.2.15 1 Property Perfect
- 6.2.15.1. Overview
- 6.2.15.2. Products
- 6.2.15.3. SWOT Analysis
- 6.2.15.4. Recent Developments
- 6.2.15.5. Financials (Based on Availability)
- 6.2.16 5 Blink Design Group*
- 6.2.16.1. Overview
- 6.2.16.2. Products
- 6.2.16.3. SWOT Analysis
- 6.2.16.4. Recent Developments
- 6.2.16.5. Financials (Based on Availability)
- 6.2.17 4 Raimon Land PCL
- 6.2.17.1. Overview
- 6.2.17.2. Products
- 6.2.17.3. SWOT Analysis
- 6.2.17.4. Recent Developments
- 6.2.17.5. Financials (Based on Availability)
- 6.2.18 3 DDProperty
- 6.2.18.1. Overview
- 6.2.18.2. Products
- 6.2.18.3. SWOT Analysis
- 6.2.18.4. Recent Developments
- 6.2.18.5. Financials (Based on Availability)
- 6.2.1 Developers
List of Figures
- Figure 1: Thailand Commercial Real Estate Industry Revenue Breakdown (Million, %) by Product 2025 & 2033
- Figure 2: Thailand Commercial Real Estate Industry Share (%) by Company 2025
List of Tables
- Table 1: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Type 2020 & 2033
- Table 2: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Key Cities 2020 & 2033
- Table 3: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Region 2020 & 2033
- Table 4: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Type 2020 & 2033
- Table 5: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Key Cities 2020 & 2033
- Table 6: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Thailand Commercial Real Estate Industry?
The projected CAGR is approximately 5.97%.
2. Which companies are prominent players in the Thailand Commercial Real Estate Industry?
Key companies in the market include Developers, 3 Colliers International Thailand, 2 Hipflat, 2 Supalai Company Limited, 4 RE/MAX Thailand, 1 Central Pattana PLC, 2 Savills, 4 Dot Property**List Not Exhaustive, 6 Knight Frank Thailand*, 1 CBRE Thailand, Other Companies (Start-ups Associations), 5 JLL Thailand, 3 Pace Development Corporation PLC, Real Estate Agencies, 1 Property Perfect, 5 Blink Design Group*, 4 Raimon Land PCL, 3 DDProperty.
3. What are the main segments of the Thailand Commercial Real Estate Industry?
The market segments include Type, Key Cities.
4. Can you provide details about the market size?
The market size is estimated to be USD 17 Million as of 2022.
5. What are some drivers contributing to market growth?
Overall economic growth driving the market; The growth of business and industries driving the market.
6. What are the notable trends driving market growth?
Growing Demand for Retail Spaces in Thailand.
7. Are there any restraints impacting market growth?
Fluctuating economic conditions hindering the growth of the market; Difficulty in landownership and leasing rights affecting the market.
8. Can you provide examples of recent developments in the market?
February 2024: Central Retail Corporation, Thailand's leading retailer, set aside THB 22 to 24 billion (USD 613 to USD 669 million) for expansion in 2024.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Thailand Commercial Real Estate Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Thailand Commercial Real Estate Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Thailand Commercial Real Estate Industry?
To stay informed about further developments, trends, and reports in the Thailand Commercial Real Estate Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence