The Unexpected Heroes of Thailand's Property Market

In the midst of a prolonged slowdown in Thailand's real estate sector, a new trend is emerging that's breathing life into the market: the rise of secondhand condominiums and houses. Small-scale businesses, in partnership with real estate brokers and architects, are leading this charge by renovating foreclosed homes and reselling them for significant profits.

Why Secondhand Properties Are Gaining Popularity

According to industry experts, the appeal of secondhand homes lies in their prime locations and affordability. These properties, often 20% cheaper than new builds, are situated in core business districts, making them highly desirable. The economic downturn has increased foreclosures, providing ample opportunities for investors to renovate and resell these homes.

The Future of Thailand's Real Estate Market

With over 1.4 million vacant homes in the market, secondhand properties are becoming a key driver of recovery. Government measures, such as reduced transfer fees, have further stimulated this segment, attracting a new wave of investors. Companies like AP Thailand are even launching ventures focused on revitalizing secondhand properties, signaling a shift in the market's direction.

Secondhand homes are no longer just old assets — they're new business opportunities.