ThirdHome targets branded residences for growth in Thailand

ThirdHome, a luxury home exchange club for second-home owners, aims to persuade branded residences in Thailand to join its network amid a sluggish property market, with the goal of doubling its Thai properties to 100 by the end of 2025.

- KANANA KATHARANGSIPORN

Giles Adams, the company’s director, said the branded residence market in Thailand presents significant opportunities for ThirdHome as the country has a large number of branded residences for sale — the largest market share among active pipelines in Asia.

“Our global membership numbers more than 20,000, including many potential buyers whose second homes are valued at US$750,000 and above,” he said.

According to hospitality and real estate consultancy C9 Hotelworks, the active pipeline of branded residences for sale in Asia has reached a historic high of $30.7 billion, comprising 38,893 units across 178 projects.

Thailand accounts for 18% of the market, with 14,389 units from 63 projects worth a combined $5.6 billion, followed by the Philippines at 12% and South Korea at 11%.