In 2026, as the Thai economy continues to face multiple challenges—including soaring household debt, stricter banking regulations, and global volatility—the Thai real estate business is predicted not to have passed its "lowest point," reflecting fragile housing purchase and sales activity.
Thairath Money conducted an exclusive interview with executives from the legendary real estate company LPN, owner of the “Lumpini Condominium” brand, discussing business direction and opportunities to maintain growth capability across all market conditions.
Daranee Chatpiriyapan, executive at L.P.N. Development Public Company Limited, stated that the company sees opportunities amid crisis. Though not a year for rapid growth, it will actively shift from just "build-to-sell" toward fully entering the "rental" market and targeting "new generation investors."
It can be analyzed that LPN does not see fewer buyers as a dead end but as a "clearer shift in target groups." In 2026, LPN aims for total revenue of 7.6 billion baht (a 13% increase), with income not only from property sales (4.06 billion baht) but also high revenue of 2.67 billion baht from rental management and services.
The key strategy is
The most notable strategy is aggressively targeting investors, especially the "First Jobber" group—recent graduates starting work who immediately invest in real estate to generate passive income.
Executives shared that real estate investors are noticeably younger now; some accumulate 20–30 units because they see yields of 5–7%.
“Currently, the real estate investor group is clearly younger, such as recent bachelor's graduates who, once earning and able to borrow, buy properties as investments. This aligns with the passive income trend among the young generation. Customers in their early 20s are a new and noteworthy group increasingly investing.”
LPN addresses this with an innovative business model.
This strategy aligns with the changing values of modern Thais, who buy houses less. The reason is not only lack of money but a change in "lifestyle."
Research from LWS, an LPN affiliate, shows that currently over 66% of Gen Z and Gen Y prefer "renting" over buying for three main reasons.
According to DDProperty, a real estate platform, the top five provinces with the highest rental demand in 2025 are:
A clear example of LPN's model is Lumpini Township Rangsit Klong 1 Phase 3 (16 buildings), with rental rates of 4,900-5,000 baht/month. Tenants are students and workers, with investors buying units at 650,000–690,000 baht per unit.
Another example is EARN by LPN in the heart of Amata Nakorn Industrial Estate, Chonburi.
Other projects include Lumpini Ville Phra Nang Klao-Riverview and Lumpini Condo Town Ekachai 48.
LPN’s 2026 direction is building a strong ecosystem.
This explains why LPN adjusts products to cover all customer groups' needs, elevating brand experience to connect customers from communication through delivery of quality housing, alongside expertise in comprehensive integrated property services via its affiliate L.P.P. Property Management Company Limited (LPP).
LPP’s advantage lies in continuous innovation in after-sales services—from engineering, building repairs, security, to housekeeping—earning customer recognition for quality living and building trust in LPN as a comprehensive real estate business, which translates into recurring business income reflecting proactive corporate adaptation.
“LPN will expand its customer base and accelerate clearing inventory through diverse sales channels to increase efficient revenue streams, such as agents or sales via the Investor Program, which offers units with tenants providing immediate returns upon transfer, meeting both investors’ and renters’ needs. This creates differentiation and new business opportunities in the highly competitive real estate market.”
Plans to launch 3 new projects in 2026 totaling 4.5 billion baht include:
1) Premium single house project BAAN 365 Jesadaratchapruek valued over 1.35 billion baht.
2) Low-rise condominium project on Phetkasem Road valued at 1.4 billion baht, expected to launch in Q2 2026; and a high-rise condominium under the "Well-being" concept in Ramindra area valued over 1.75 billion baht, expected to launch in Q3 2026.
Additionally, phase 2 expansion of Villa 168 New Bangkok-Kritha is planned in Q3 2026 after phase 1 sold out late last year. Overall, this adaptation is not just clearing stock but a strategic understanding that "ownership" may no longer be the sole housing answer; rather, "quality of life and management" are the true long-term values.
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