According to C9 Hotelworks, a Phuket-based hospitality and property consultancy, Thailand is leading the branded residences market in Asia this year, accounting for 23.3% of the local market and valued at $266 billion.
C9 Hotelworks Managing Director Bill Barnett noted that in 2024, the number of branded residences sold in Thailand, particularly in Bangkok and Phuket, increased by 11% compared to the previous year. More than 68,000 units were sold.
The Philippines and South Korea came in second and third with market shares of 17.3% and 11.6%, respectively. Emerging markets such as Malaysia, Vietnam and India collectively accounted for 24.5% of the market.
Phuket stands out as the leading destination in Asia, with 4,771 branded units across 26 projects, followed by Manila, Bangkok, Kuala Lumpur and Pattaya. Hua Hin ranks 10th in terms of units.