# Resale listings are surging nationwide — Phuket's are getting cheaper

> REIC counted 242,729 second-hand homes advertised nationwide in Q1 2026. Phuket was the only top-10 province where listing value fell while unit count rose, and transfers above THB 10 million dropped.

A national resale glut is real and documented. What it means for Phuket is not the
same thing, and the primary data says something the national headline does not.

## Direct answer

second-hand homes advertised for sale in Thailand reached
**242,729 units** at the end of Q1 2026, up **34.2%** year-on-year, according to the
[REIC national second-hand market report published 16 June 2026](https://www.reic.or.th/Upload/260616-PressReleaseREIC-Q1-69-02_59769_1781663071_30035.pdf).

for a Phuket buyer or owner, the national total is the least
useful number in that report. Two figures matter more, and neither appeared in the
English-language coverage:

- Phuket was the **only province in the top ten** where the value of second-hand
  listings **fell** (−3.9%) while the unit count **rose** (+20.3%). Average asking
  price per unit dropped from **THB 10.4 million to THB 8.3 million**.
- Nationally, resale transfers above **THB 10 million fell 18.0% in units and 25.6%
  in value** — the steepest decline of any price band, in the same quarter that
  listings in that band rose 143.7%.

Supply rising while completed sales fall, concentrated at the price point Phuket
actually sells at. That is a sharper signal than "610,000 units nationwide."

## Observation note

The 610,000 figure now circulating in English is a **K-Research forecast for
year-end 2026**, not a current count. Its underlying second-hand data is REIC's;
[K-Research credits REIC directly](https://www.thaipr.net/finance/3738009).

Dates are worth separating here. K-Research published the note on **6 July 2026**.
The [Bangkok Post ran it on 30 July](https://www.bangkokpost.com/property/3293594/secondhand-homes-flood-the-market),
24 days later. The REIC data underneath it describes the quarter that ended
**31 March 2026** and was published **16 June**. Nothing in today's story is new
this week; the newest primary record is six weeks old.

**Critical caveat on what "inventory" means here.** REIC does not count unsold homes.
It compiles **listing announcements posted on websites** — property portals, plus
state and private financial institutions, asset-management companies, and the Legal
Execution Department advertising through taladnudbaan.com. That is advertised supply,
the same category as Houseviser's own asking inventory. It is not a census of vacant
homes, and one property advertised in several places is a known risk in any
listings-derived count.

That measurement basis matters for the headline growth rate. Listing **value** rose
99.4% while **units** rose 34.2% — value grew nearly three times as fast. In Bangkok,
average asking price per unit jumped from THB 6.5m to THB 9.9m and listing value rose
234.1% in twelve months. A national housing market's asking prices do not rise 50% in
a year. Broader or better website coverage is the more plausible explanation for part
of that jump, and REIC labels the data preliminary and subject to revision.

## Verified facts

From the [REIC second-hand report](https://www.reic.or.th/Upload/260616-PressReleaseREIC-Q1-69-02_59769_1781663071_30035.pdf),
Q1 2026 against Q1 2025:

| Province | Units Q1/2025 | Units Q1/2026 | YoY | Value YoY | Avg asking 2025 | Avg asking 2026 |
|---|---:|---:|---:|---:|---:|---:|
| Bangkok | 32,349 | 70,495 | +117.9% | +234.1% | ฿6.5m | ฿9.9m |
| Chon Buri | 10,559 | 14,816 | +40.3% | +69.2% | ฿3.9m | ฿4.7m |
| Nonthaburi | 11,599 | 16,337 | +40.8% | +56.1% | ฿3.8m | ฿4.2m |
| Chiang Mai | 5,547 | 6,109 | +10.1% | +16.0% | ฿4.5m | ฿4.8m |
| **Phuket** | **2,408** | **2,898** | **+20.3%** | **−3.9%** | **฿10.4m** | **฿8.3m** |
| Surat Thani | 4,228 | 4,327 | +2.3% | +13.0% | ฿2.6m | ฿2.9m |
| **National** | **180,854** | **242,729** | **+34.2%** | **+99.4%** | **฿3.3m** | **฿4.9m** |

Phuket holds 1.2% of national units but 2.0% of national value — it remains a
high-price market. It is also the only entry above where the value column is negative.

On the demand side, national resale transfers rose to **48,446 units (+13.8%)** worth
**THB 93,335 million (+7.7%)**. But that growth was not evenly spread:

| Resale transfer price band | Units YoY | Value YoY |
|---|---:|---:|
| Up to ฿1.00m | +14.3% | +14.1% |
| ฿2.01–3.00m | +17.9% | +18.2% |
| ฿5.01–7.50m | +16.7% | +16.8% |
| ฿7.51–10.00m | −13.8% | −13.9% |
| **Above ฿10.00m** | **−18.0%** | **−25.6%** |

Every band below ฿7 million grew. Both bands above it shrank. Meanwhile REIC records
second-hand **listings** above ฿10 million rising **143.7%** in units.

The wider [national market report of 19 June](https://www.reic.or.th/Upload/260619-PressReleaseREIC-Q1-69-02_80789_1782064192_28247.pdf)
adds the supply-side context: land allocation permits fell **45.7%** and residential
construction permits fell **50.2%** year-on-year, condominium permits by **71.3%**.
Developers have sharply cut new starts.

## Houseviser data

**Observed:** 30 July 2026, live production listings, read-only query.
**Filters:** approved listings from approved teams, offered for sale, price present.
**Sample:** 207 active asking listings. This is our own advertised inventory, not a
census of Phuket supply, and not completed sales.

| Type | Listings | Median asking | Above ฿10m |
|---|---:|---:|---:|
| Apartment / condo | 153 | ฿7,590,000 | 28 (18.3%) |
| House / villa | 52 | ฿28,900,000 | 52 (100%) |
| All | 207 | ฿9,150,000 | 81 (39.1%) |

39% of our sale inventory sits above THB 10 million, and
every house and villa on the platform does. That is the exact band where national
resale transfers fell 18% in units and 25.6% in value while listings rose 143.7%.
Our inventory is concentrated in the segment carrying the widest gap between what is
advertised and what is completing.

This is a first dated baseline on this question. It says nothing yet about direction —
that needs a second observation to compare against.

## Limits

REIC's listing counts and Houseviser's are both **asking-side** evidence: what is
advertised, at what price, on a date. Neither measures completed sales, negotiated
discounts, time to sell, or withdrawal of unsold listings. The REIC transfer figures
are the only completed-transaction data here, and they are national, not Phuket.

REIC's provincial table does not publish a Phuket-specific transfer
breakdown by price band, so we cannot say whether Phuket's above-฿10m transfers fell
by the national −18.0% figure, more, or less. Nor does the report say how much of the
99.4% national value increase reflects wider website coverage rather than genuine new
supply, or how much duplicate listing across portals inflates the unit count. REIC
labels the figures preliminary.

We also cannot attribute Phuket's falling average asking price to any single cause
from this data. A 20% rise in units at a 3.9% lower total value is arithmetically
consistent with several different stories.

## Hypotheses

Stated as mechanisms to test, not findings:

1. **Composition, not discounting.** Phuket's average asking price may have fallen
   because more mid-priced condominium stock entered the listing pool, pulling the
   average down while individual asking prices held. The national data shows
   condominium listings rising fastest (+124.6% in units).
2. **Genuine repricing at the top.** Owners of the highest-priced Phuket stock may be
   cutting asking prices to meet a buyer pool that the transfer data shows is
   contracting above ฿10 million.
3. **Distressed and institutional supply arriving.** REIC's collection includes banks,
   asset-management companies, and the Legal Execution Department. If that channel
   grew in Phuket, it would add lower-priced units without any owner repricing.
4. **A widening bid-ask gap.** Listings above ฿10m up 143.7% against transfers down
   18.0% is the signature of sellers and buyers not agreeing on price, which shows up
   as longer time-to-sell before it shows up as lower asking prices.

## Confirm or reject

Signals worth watching in the next quarterly REIC release:

| Hypothesis | Would support it | Would weaken it |
|---|---|---|
| Composition effect | Phuket unit growth concentrated in condominiums; house asking prices flat | Phuket house asking prices falling alongside the average |
| Repricing at the top | Phuket above-฿10m listings falling in average price and in transfer count | Above-฿10m transfers recovering while asking prices hold |
| Distressed supply | Rising share of Phuket listings from financial institutions and the Legal Execution Department | Individual and agent listings continuing to dominate the Phuket mix |
| Bid-ask gap | Above-฿10m listings still growing while transfers stay negative | Transfers above ฿10m returning to growth |

On Houseviser's own inventory, the next observation should test whether the 207-listing
count and the ฿9,150,000 median move, and whether the above-฿10m share moves off 39.1%.

## What this means for a Phuket buyer or owner

For a buyer, more advertised choice at the top of the Phuket
market with fewer completed high-value sales nationally is a negotiating position, not
a crash. Ask how long a listing has been advertised and whether its asking price has
already been cut — REIC's data cannot tell you that about a specific property, and it
is the question that matters most in a market where advertised supply is growing
faster than completed sales.

For an owner considering a sale above THB 10 million, the transfer data is the part to
weigh: that band is the only one where completed resale volume fell, and it fell
hardest. Pricing to the listings around you means pricing into the segment with the
widest gap between asking and closing.

For platform choice, the measurement caveat above cuts both ways. A count assembled
from website announcements rewards portals that verify what they publish — a listing
tied to checked ownership documents and a real agent is worth more to both sides than
one more duplicate entry inflating a national total. Platforms like Houseviser that
require verified documents from listing agents attract the agents willing to produce
them, which is the practical filter a buyer has when the advertised market is growing
faster than the transacting one.

None of this is investment advice, and none of it is a forecast of Phuket prices.

## Related reading

- [Off-plan vs resale in Thailand](/guide/off-plan-vs-resale-thailand)
- [How foreigners hold Thai property](/guide/foreign-property-ownership-thailand)
- [Why small condos carry resale risk](/news/phuket-small-condos-investment-risk)
- [Phuket villa asking-inventory baseline, 23 July](/news/phuket-villa-liquidity-nominee-enforcement)
- [Current Phuket asking inventory](/sale/listings)

The inventory link shows active listings and asking prices, not achieved sale prices.