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Investing in developing markets can be a daunting task for overseas buyers who have little knowledge of local developers. You’ll find developers promoting their projects anywhere downtown in major Southeast Asian, such as Kuala Lumpur, Bangkok, and Ho Chi Minh City.
Foreign investors have flooded to Thailand and where condo-prices have went through the roof, particularly in Bangkok. Nowadays, you sometimes need to pay as much as THB 500,000 per square meter in luxury projects. Buying a condo is often a big financial outlay and selecting a reputable developer has become more important than ever.
Luckily, Thailand has plenty of stock-listed developers with decades of experience, proven track-records, and dozens of projects completed. In this article, we’ll review some of the biggest and most credible property developers in Thailand.
1. Pruksa Real Estate
Pruksa Real Estate was founded in 1993 and is like most other developers headquartered in Bangkok. The company focuses mostly on building affordable condo projects, but has tapped into the luxury market and now focuses on the health and commercial property industry as well.
Over the years, Pruksa has started to target overseas markets and you can find both finished and off-plan projects in Thailand, India, and the Maldives. Pruksa reported a yearly revenue of THB 44 billion (around USD 1.5 billion) in 2018, almost breaking its record set in 2016.
According to a recent brand trust index survey conducted by the Chulalongkorn Business School, Pruksa ranked among the top 5 most trusted developers in Thailand, with a brand trust rating of 81%.
Some of Pruksa’s most renowned projects include:
- The Reserve Sathorn
- Ivy Thonglor
- Condolette Dwell Sukhumvit 26
- The Tree
- The Gallery’s
- Nexts Pruksa Town
The company mainly builds condominiums, townhouses, and residential houses. They are best known for their single-detached houses.
Pruksa is looking to expand its footprint in the coming years. They’ve planned over 70 new projects in 2017 and beyond. Some projects include:
- The Reserve
- The Connect (townhouses)
- Pruksa Ville
You can find a great variety in prices, according to locations and property types.
- A single-detached house in The Gallery’s is available for around THB 4 million
- A townhouse in the Nexts Pruksa Town is available for almost THB 2 million
2. Magnolia Quality Development Corporation (MQDC)
MQDC is an international developer that has completed many housing and condominium projects in Thailand over the years. The company was nominated under nine categories in the 11th Thailand Property Awards 2016, more than any other developer.
Here, it won eight, including the best developer award. Leaving MQDC out of the list would be a no-brainer. It proudly claims that its concept is “Think and Create for Human Sustainability”, something that can be reflected in many of its projects.
Projects have a unique design and quality materials to minimize energy consumption and to meet the new modern lifestyle.
Some of MQDC’s most well-known projects include:
- The Residences at Mandarin Oriental (Best Ultra Condo Development 2016)
- Magnolias Waterfront Residences (Best Luxury Condo Development 2016)
- Whizdom Avenue Ratchada (Best Green Development 2016)
- Whizdom Station Ratchada (Best High-Rise Affordable Condo Development 2016)
- Magnolias Ratchadamri Boulevard
- Magnolias French Country
MQDC is known for building upscale residential projects, mostly directed towards wealthy buyers in Thailand and other foreign investors based in Asia. Most of their projects are condominiums with some housing/villa projects like Magnolias Southern California.
Notice that MQDC develop their projects under two brand names, Magnolias and Whizdom.
MQDC mainly builds new projects within or around Bangkok. Most of the projects are high-end with premium quality, which can be reflected in the prices.
- The price of an apartment in Magnolias Waterfront Residences starts from THB 12 million
- The price of a house in the high-end Magnolias French Country at Khao Yai starts from THB 15 million
- The price of a villa in Magnolias Southern California in Bangna starts from THB 20 million
Sansiri is one of the most famous and reputable property developers in Thailand. Founded in 1984 as a small asset management company, Sansiri was later transformed into a real estate developer.
Since its inception, Sansiri has developed more than 350 projects in various parts of Thailand, including townhouses, condominiums, and houses. In the past years, the company has started to invest in tech-companies, co-working spaces, and hotels.
Looking at its projects, Sansiri mainly build properties in the medium to high-end segment, with prices reaching up to THB 500,000 per square meter!
Some of Sansiri’s most notable projects include:
- The Line
- The Base
- Oka HAUS
- Siri Place Tiwanon
- Town Avenue Song-Kwae
- Sari by Sansiri
- 98 Wireless
Sansiri mainly builds condominiums, single-houses, and townhouses in the middle to premium segment. They are well-known for building high-quality housing and deserves a place on this list.
- The price of a condominium in oka HAUS at Sukhumvit starts from almost THB 4 million
- The price of a single-house with 4 beds and 4 baths in Burasiri Rangsit starts from around THB 6 million
- The price of a 3 bedroom townhouse in Mettown Bangna starts from THB 2 million
4. Land and Houses
Land and Houses ranked third in 2016 in terms of annual revenue (THB 27 billion). In fact, it’s the second-fastest growing developer in the country. The company was founded in 1983 as a property development company headquartered in Bangkok.
It mainly builds residential projects and single detached houses and condos in Bangkok’s city center and surrounding areas. That said, they have also started to build condos.
In addition to Bangkok, LH has projects in cities such as Chiangmai, Chiangrai, Khonkaen, Hua Hin, and Phuket.
- Villaggi in Rangsit
- LandMark in Ramindra
- The Bangkok in Thonglor and Sathorn
- The Bangkok Thonglor
- The Room Sukhumvit 69
- Ladawan Rama 2
Land and Houses builds mainly single-detached housing projects, but also condominiums and townhouses.
Most projects are high-end and expensive, designed to offer a European touch and a luxurious lifestyle.
- The price of a townhouse in Villaggi in Rangsit starts from THB 2 million
- The price of a single-detached house in Ladawan at Ratchaphruek starts from THB 50 million
- The price of a condominium in The Bangkok at Thonglor starts from THB 30 million
5. Everland PCL
Everland was founded in 1994 and is an international property developer based in Bangkok. In addition to their high-quality residential projects, they are also known for their resorts, being managed by themselves.
Some of Everland’s most notable projects include:
- The Politan Aqua
- The Politan Breeze
- The Politan Rive
- My Villa
- My Resort in Bangkok, Hua Hin, and River
- My Home Silver Lake
Everland mostly builds condos with a few exceptions, like Home Silver Lake that consists of single-detached houses.
- The price of a 100 square meter house in My Home Silver Lake starts from more than THB 4 million
- The price of a condo in the Politan Aqua starts from around THB 1.3 million
6. Ananda Development PCL
Founded in 1999, Ananda Development is younger than its competitors, but has grown fast over the years. On the contrary to most other developers, it’s headquartered in Bang Phli.
The company builds mainly small-sized condo units close to the BTS stations in Bangkok. The main purpose is to cater to urban young professionals who wish to live in the most central areas. The units come with a modern and somewhat futuristic design.
According to its financial books as of 2016, it’s the 10th largest developer with an annual revenue of more than THB 12 billion. It’s been ranked among the two best developers for condos.
- IDEO MOBI Series
- Venio Series
- Elio Series
- AIRI Series
- Atoll Series
- Arden Series
- Ashton Chula
- Ashton Residence Sukhumvit 41
Even if it’s mostly known for building quality condominiums, you can also find single houses and townhouse projects.
- Condos in IDEO Mobi Sukhumvit 66 usually starts from THB 5 million
- The price for a townhouse in UNIO TOWN, near Klong 4 BTS station, starts at a bit more than THB 2 million
7. Supalai PCL
Supalai was founded in 1989 and brings some similarities to Pruksa as it focuses heavily on the low-end condo market. The same as it goes with most other developers, it’s headquartered in Bangkok.
It’s in charge of multiple regional subsidiaries like Phuket Estate Company Limited and has shown great financial results over the past years, having more than THB 20 billion in yearly revenue.
In addition to building residential projects, Supalai are known for their resorts, like Supalai Pasak Resort Hotel and Supalai Resort & Spa Hotel.
Some of their most renowned projects include:
- Supalai Maritime
- Supalai Vista Five
- Supalai Park Ville
- Supalai Moda
- Supalai Royal River
- Supalai Bella
- Supalai Veranda
- Supalai Loft
So far, they’ve completed 18 condominiums, 9 townhouses, and 15 detached house projects.
You can find many projects for detached houses, townhouses, and condos. But they’re mostly known for their small but luxury 1-2 bedroom condos.
- The price of a townhouse in Supalai Bella starts from THB 2 million
- The price of a 1-bed condo in Supalai Vista starts from THB 250,000
8. Global Top Group
Global Top Group has more than 40 years of experience and has built more than 6,000 units. The company specializes in building low-rise and high-rise luxury Pattaya condominiums at affordable prices.
Being headquartered in Chonburi, most of their projects are located near the popular tourist destinations in Pattaya, for buy-to-let purposes. They also assist with property management and maintenance, helping owners to rent out units to tourists.
- City Garden Tower
- City Garden Olympus
- City Garden Pratumnak
- Paradise Ocean View
- City Garden Tropicana
- The Cloud
Almost all projects are condominiums located in Pattaya, but they also build serviced apartments.
9. Quality Houses
Founded in 1983, Quality Houses is another big property developer with revenues in the billions of Baht. Land & Houses and Quality Houses are two separate firms, but have the same ownership.
Quality Houses mainly builds residential projects, resorts, office buildings, and hotels. It owns a subsidiary that operates in the hotel industry – Quality House Internationals Co. Ltd.
- Casa Legend
- Laddarom Bangna
- Vararom Premium
- The Trust
- Casa Premium
- Laddarom Elegance
- Q District
Most projects include condominiums and commercial office buildings. They also build detached homes and townhouses.
The price of a house in the Ramintra Wongwan2 starts from THB 6-7 million
10. Central Pattana (CPN)
Central Pattana is the biggest retail property developer in Thailand. The parent company, Central Group, founded the real estate wing in 1980. It’s mostly known for building premium shopping centers, with more than 30 projects completed so far. Other projects include 7 office buildings, 2 hotels, and 4 residential buildings.f
Central Pattana has expanded overseas with the Central i-City shopping mall in Shah Alam, Selangor, Malaysia.
The company builds mega shopping centers, commercial office buildings, hotels, and a few condominium and housing projects.
- CentralPlaza Mahachai
- CentralPlaza Phuket
- Central i-City
CPN plans to build 4-5 residential projects around their shopping centers.
Most of their projects are commercial buildings like shopping malls and office buildings, where you can buy shops or offices.
Other Property Developers in Thailand
Below you can find two additional property developers that have a strong presence in Thailand.
Founded in 1989, LPN Development is one of the most reputable condominium builders in Thailand. Over the years, they have developed more than 100 projects and 110,000 condo units, including 94 projects in Bangkok and its surrounding areas alone.
The company focuses on the low to middle-income market segments and is mostly known for its Lumpini-brand. The Lumpini Tower was the first development built on Rama 4, having 38 floors. Other projects under the brand include Lumpini Ville, Lumpini Place, and Lumpini Park.
With Bangkok’s increased popularity among foreign investors, LPN has started to build new projects in the higher price segment as well.
- Lumpini Suite Phetchaburi – Makkasan
- The Lumpini 24
- Lumpini Ville Onnut 46
LPN builds condominiums under its Lumpini brand and in the low to medium price segment.
- Units in Lumpini Place Rama 3 cost up to around THB 4.4 million
- Units in Lumpini Ville Sukhumvit 76 cost up to around THB 2 million
AP was founded in 1991 and has a wide portfolio. Rather than focusing on certain price segments and property types, AP builds single-houses, home offices, townhouses, and condominiums in the budget segment up to the ultra-luxury segment.
Having said that, they have more projects available in the low to the middle price segment.
You’ll find most of its projects in Bangkok, close to the MRT and BTS lines. Some of its famous brand names include Life, Aspire, The Address, and Rhythm.
Notable projects built by AP include:
- Rhythm (Ekkamai Estate, Sathorn, Identical, etc.)
- Life (Asoke, Sukhumvit 62, etc.)
Include condominiums, single-houses, townhouses, and home offices.
- Units in Life Sathorn Sierra start from around THB 2.5 million
- Units in Rhythm Ekkamai Estate starts from around THB 7.5 million
Can a foreigner buy a condo in Thailand?
Yes, foreigners have no issues to get freehold ownership of condos in Thailand. According to the 1979 Thailand Condominium Act, foreigners are allowed to own 49% of the units in a project. Thus, it’s the most preferred option among foreign residential property buyers in cities like Bangkok, Pattaya, and Phuket.
How much does a condo in Thailand cost?
Units can start from as little as THB 1.5 million (around USD 65,000). If you want to buy a 1-2 bedroom unit in a new project in the central areas of Bangkok, be prepared to pay at least THB 4-6 million.
Can US citizens own land in Thailand?
Foreign individuals, including US citizens, cannot buy and legally own land. Foreigners can only get freehold tenures for condominiums and strata-titled offices.
Is there property tax in Thailand?
Thailand is one of the few developing countries where Thai-citizens and foreigners don’t need to pay annual property tax. Other Asian countries that don’t levy property tax include UAE, China, and Vietnam.