As of the first half of 2025, Sansiri Public Company Limited launched the highest number of units, with 1,847 units, or 12% of all units sold. In terms of value, AP (Thailand) Public Company Limited launched the highest value at 21,085 million baht, or 19% of all new launches. The current situation is that the real estate business is a semi-monopoly.

 

Dr. Sopon Pornchokchai, President, Agency for Real Estate Affairs (www.area.co.th), surveyed the real estate market in mid- 2025 in Bangkok and its vicinity and found that in the first half of 2025, a total of 15,452 residential units were launched, valued at 110.82 billion baht ๖, or an average of 7.172 million baht per unit .

 

The residential real estate market is a semi-monopoly, with public companies and their subsidiaries collectively developing 10,324 units out of 15,452, or 67%, or about two-thirds of the total market. Hundreds of other companies are developing residential properties for just over a third.   In terms of development value, the top 10 companies in the first half of 2025 developed residential properties for a combined 78.219 billion baht out of a total of 110.82 billion baht, representing 71% of the total, or nearly three-quarters, of the market.

 

 

Sansiri Public Company Limited (SANSIRI) led the pack in land development by unit volume, developing 1,847 units worth 10,519 units across seven projects, with an average selling price of 5.695 billion baht per unit   . AP (Thailand) Public Company Limited (AP) led the pack in value by developing 21.085 billion baht, representing approximately 19% of the total value, or one-fifth of the total development value in the first half of 2025 in Bangkok and its vicinity. AP (Thailand) developed 1,661 residential units at an average price of 12.694 million baht.

 

In terms of number of units, the top five were Sansiri Public Company Limited (1,847 units), AP (Thailand) Public Company Limited (1,661 units), AssetWise Public Company Limited (1,355 units), Pruksa Real Estate Public Company Limited (929 units), and SC Asset Corporation Public Company Limited (875 units). In terms of value, the top five were AP (Thailand) Public Company Limited (21.085 billion baht), Sansiri Public Company Limited (10.519 billion baht), SC Asset Corporation Public Company Limited (10.362 billion baht), Land and Houses Public Company Limited (8.23 billion baht), and Origin Property Public Company Limited (8.23 billion baht).

 

 

In the first half of 2025, Major Development Public Company Limited (MAD) developed only one project with 45 units, but its total value reached 4.559 billion baht, with the average price per unit in this project reaching 101.3 million baht. Meanwhile, Land and Houses Public Company Limited (LH) developed the highest average price among the top 10 projects, with an average price of 20.627 million baht. Another company that often leads the pack in developing expensive products is SC Asset Corporation Public Company Limited.

 

The top position among land developers has changed periodically. For example, nearly 40 years ago, Bangkok Land Public Company Limited held the top spot, developing large  townships with various products within a single area. Thirty years ago, it was changed to Land and Houses Public Company Limited, focusing on location diversification to spread risk and seek new opportunities. Fifteen years ago, Pruksa Real Estate Public Company Limited held the top spot for nearly a decade, not only developing in every location like Land and Houses Public Company Limited, but also developing at almost every price point.   Today, however, Pruksa Real Estate Public Company Limited has diversified its development into income-generating properties, less focused on sales. This has led other companies to emerge as leaders.

 

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Dr.Sopon Pornchokchai, PhD D.FIABCI MRICS, President, Agency for Real Estate Affairs & FIABCI-Thai

 

Dr.Sopon gained a PhD in land and housing from AIT and had further property valuation training from LRTI-Lincoln Institute of Land Policy and housing from KU Leuven (Belgium). He is also the President of the Thai Appraisal and Estate Agents Foundation, Director of Thai Real Estate Business School, VP of Employers Confederation of Thailand.

 

His research master pieces include the discovery of 1,020 slums (1985), CAMA (computer-assisted mass appraisal) modeling (1990), forecast of 300,000 unoccupied housing units (1995 and 1998), study for property information centre (2000), roadmap for valuation, Ministry of Finance, Vietnam (2006), Ministry of Finance, Indonesia (2008), World Bank Indonesia (2010), Ministry of Finance, Cambodia (2012), UN World Cities (2015), ASEAN Property Surveys (2017), Global Municipal (2017), Bangkok Zoo relocation (2019), 28 Dam Valuation in Laos (2024).