The real estate markets in Thailand's three main tourist cities are undergoing a correction, with Chiang Mai recovering thanks to foreign purchasing power, while Phuket and Koh Samui are slowing new project launches to clear inventory. Mr. Akkadej Udomsirithamrong, Deputy CEO of Ornsirin Holding Public Company Limited, revealed that in the first quarter of 2026, the value of condominium transfers in Chiang Mai expanded by 24.1 percent year-on-year, with foreign transfer value reaching 566 million baht, an increase of 41.9 percent, led by Chinese buyers with 92 units worth 264 million baht. In Phuket, during the second half of 2025, total transfer value was 5.365 billion baht, down 9.0 percent, but new supply launched shrank to 50.171 billion baht from 105.921 billion baht, while foreign unit transfers in the first quarter of 2026 still reached 2.435 billion baht, accounting for 18.1 percent of the nationwide foreign transfer value. On Koh Samui, in the second half of 2025, total transfer value was 1.945 billion baht, growing 4.8 percent, with condominiums surging 59.1 percent to 431 million baht, and remaining supply stood at 10.738 billion baht. Ornsirin is preparing to launch The Astra Samui project worth 770 million baht. Nationwide in the first quarter of 2026, second-hand home transfers accounted for 67 percent, while the segment priced above 7 million baht slowed by 14.8 percent, and total foreign condominium transfer value fell 17.9 percent to 13.464 billion baht.
Ornsirin Holding PublicForeign buyers drive Chiang Mai growth and Ornsirin launches new Samui project, indicating strong demand.
