GDP from real estate activities Thailand 2012-2023

In 2023, the real estate activities sector contributed approximately 459.38 billion Thai baht to Thailand's GDP, which indicated a steady increase since 2011. The real estate industry plays a significant role in the Thai economy. 

Residential real estate post COVID-19 pandemic

The real estate industry was one of the industries heavily affected by the COVID-19 pandemic. The number of new residential buildings in the country dropped in 2021 before recovering in the following years. In the Bangkok Metropolitan Region, more new housing projects' construction progress rejuvenated after the pandemic. In addition, the revenue of real estate developers listed in the Stock Exchange of Thailand increased to around 282.7 million Thai baht in 2022.

Commercial and industrial real estate post COVID-19 pandemic

In 2020, apart from residential real estate, the industrial and commercial segments also undoubtedly suffered during the pandemic. However, in 2022, the growth rate of sold and rented industrial real estate in Thailand rose almost 42 percent. For commercial real estate, the office and retail supply saw improvements as of the first quarter of 2023, indicating a 1.3 and 3.1 percent year-on-year growth, respectively.