When a major property consultancy shifts focus from sales to recurring management income, it signals more than internal strategy. For Phuket property buyers and investors watching Thai real estate, the move reflects a residential market where demand has cooled, selectivity has increased, and firms are adapting to a changed investment landscape.
Savills Thailand, the property consultancy known for marketing high-end developments across Thailand including Phuket and Krabi, has repositioned its business in response to slowing residential sales. Property management now accounts for 65% of the firm’s revenue, up from a much smaller share before the pandemic, with industrial brokerage at 20% and research at 15%.
Prapaporn Boonkajornkul, deputy managing director at Savills Thailand, explained that the company’s strategy evolved alongside market conditions. Residential brokerage has become more selective as domestic demand slowed, while property management and industrial services expanded.
The overseas buyer detail worth noting
Savills plans to resume international marketing of Thai luxury residential property after a six-year pause. The firm will organise roadshows in Singapore and Dubai during the second half of 2026, targeting Bangkok branded residences priced above 20 million baht per unit.
This marks the first overseas campaign since the pandemic. Before Covid-19, Savills regularly promoted Thai residential projects in Singapore, Hong Kong and Shanghai during the property boom of 2017-18, including developments in Phuket and Krabi.
The six-year gap and the careful timing of the return suggest international marketing is being treated cautiously. The choice of Dubai as a new market alongside Singapore indicates efforts to diversify buyer sources beyond the traditional Hong Kong and mainland China markets that dominated the 2017-18 period.
How Thai buyers’ overseas preferences have changed
Savills also reported a clear shift in Thai buyers’ overseas residential investment behaviour. Before the pandemic, London was among the preferred destinations alongside Japan’s Niseko ski resort. More recently, interest in London has moderated as market conditions became more challenging.
Budgets have narrowed. Buyers who previously considered properties ranging from £1.5 million to £5 million are now typically looking at £800,000 to £1.5 million. Purchases in the £1-2 million segment have shifted towards homes priced around £500,000.
Rather than buying expensive properties in central London, Thai buyers are increasingly looking at homes in Zones 2 and 3, where prices are lower. Some families now prefer leasing properties for the duration of their children’s studies instead of purchasing.
The firm is preparing an exhibition in Thailand this September to market residential properties in Niseko, targeting Thai buyers seeking holiday homes that can also generate rental income.
Why the property management focus matters
Savills manages 38 buildings in Bangkok, comprising 33 residential towers and five mixed-use developments. The firm expects to increase its portfolio to at least 40 buildings by year-end after adding three projects in the first half and targeting two more in the second half.
Most of the buildings under management are positioned in the high-end and luxury segments, providing recurring management income that is less dependent on residential transaction volumes.
The shift reflects how property consultancies are adapting alongside developers as Thailand’s residential market becomes increasingly challenging, according to Prapaporn. Instead of relying primarily on residential brokerage, firms are building businesses with more diversified income streams while selectively pursuing opportunities in sectors that continue attracting investment despite a slower housing market.
The wider industry context
The strategy change comes as Savills strengthens its global investment advisory platform following completion of its acquisition of Eastdil Secured, a US real estate investment bank, for an enterprise value of $1.11 billion.
The acquisition significantly expands Savills’ real estate investment banking capabilities, particularly in North America, while reinforcing its capital markets leadership across Europe and Asia-Pacific through the newly branded Eastdil Secured Savills.
Martin Fidden, chief executive of Savills Asia Pacific, said the acquisition would significantly strengthen the firm’s capital markets capabilities across the region, broadening the expertise available to clients facing increasingly complex investment decisions.
What this means for Phuket property
For Phuket property buyers and sellers, the broader signal is clear. Residential demand in Thailand has slowed enough to prompt major consultancies to reposition their businesses around recurring management income rather than transaction-based brokerage.
The planned resumption of overseas marketing in 2026 suggests firms expect international buyer interest to return gradually, but the six-year gap and selective approach indicate caution. The focus on Dubai and Singapore rather than a broader roadshow programme suggests firms are testing demand before committing to larger campaigns.
The shift in Thai buyers’ overseas preferences—towards lower-priced properties, outer zones and rental-focused holiday homes—may also signal changing attitudes towards property investment more broadly, including domestic purchases in resort markets such as Phuket.
Frequently Asked Questions
When will Savills resume international marketing of Thai luxury property?
Savills plans to organise roadshows in Singapore and Dubai during the second half of 2026, marketing Bangkok branded residences priced above 20 million baht per unit. This marks the firm’s first overseas campaign since the pandemic.
Why did Savills stop overseas property marketing for six years?
International marketing activities were suspended during the Covid-19 pandemic. Before that, Savills regularly promoted Thai residential projects including Phuket and Krabi developments in Singapore, Hong Kong and Shanghai during the 2017-18 property boom.
What does the shift to property management indicate about the market?
The shift reflects slowing residential transaction volumes in Thailand. Property management now provides 65% of Savills Thailand’s revenue, offering recurring income that is less dependent on sales activity. The firm manages 38 buildings in Bangkok, mostly high-end and luxury developments.
How have Thai overseas property buyers changed their behaviour?
Thai buyers have become more price-conscious. Budgets for London properties that previously ranged from £1.5 million to £5 million have typically narrowed to £800,000-1.5 million. Buyers are increasingly looking at homes in outer London zones where prices are lower, and some families now prefer leasing instead of buying.
Could this affect demand for Phuket luxury property?
The article does not directly address Phuket demand, but Savills previously marketed Phuket and Krabi projects internationally during 2017-18. The firm’s cautious approach to resuming overseas marketing and the shift towards more conservative buyer behaviour may suggest a period of selective demand for luxury property across Thailand including resort markets.
Sources
- Bangkok Post — Savills pivots as housing market slows — link
