T
hailand's real estate developers are venturing beyond traditional hotel brands to partner with iconic labels in the automotive, fashion, and wellness sectors. This shift is aimed at creating luxury properties that resonate with high-end buyers. Ananda's Porsche Design Tower Bangkok has set a new benchmark for ultra-luxury residences, with prices reaching USD 33,000 per square meter.

    Thailand now leads Asia in branded real estate, with THB 106 billion worth of properties on the market or under development, according to C9 Hotelworks' Thailand Branded Residences Market Review 2024. Ananda's CEO, Chanond Ruangkritya, attributes the appeal of branded residences to their ability to drive premium pricing among high-net-worth buyers.

    Since Aman Nai Lert Bangkok set a new standard for ultra-luxury branded residences in 2020, Thailand's market has experienced explosive growth. C9 Hotelworks reports that there are now 46 branded real estate projects, comprising 10,081 units, with 67% located in resort destinations and 33% in Bangkok.

    Developers are increasingly targeting overseas buyers due to tightening credit conditions for domestic buyers and an oversupply of completed units. This shift is driving the need for differentiation beyond hotel-branded properties, leading to a more diverse brandscape across Thailand's real estate market.

    New entries include Tri Vananda in Phuket, which has partnered with La Prairie, and Gardens of Eden, featuring award-winning architect Martin Palleros. These projects aim to gain a competitive edge and elevate pricing. With attractive advantages such as foreign ownership allowances and long-term visas, Thailand is expected to remain popular among wealthy property investors.

    As more global players enter the market, the battle for brand supremacy in Thailand's real estate sector is likely to intensify.