“The bad news is that this year Thailand’s economy will grow at the lowest rate in ASEAN! The good news is that this year’s figures may still be better than next year’s.” It is a statement from Dr. Pipat Luengnaruemitchai, Chief Economist at Kiatnakin Phatra Financial Group (KKP), describing the Thai economy’s ongoing slowdown. He expects GDP growth in the first and second quarters of 2026 to remain low at 1–2%, potentially resulting in an annual GDP growth of only about 1.6%, due to various factors such as good exports but stagnant manufacturing, contraction in production, and weak tourism compared to two years ago.
Recently, the Economic Intelligence Center of Siam Commercial Bank (SCB EIC) issued a similar assessment, expressing concern that next year’s economy will grow only about 1.5%. Excluding years when Thailand faced economic crises, 2026 will be the first year in 30 years that the country’s economy grows below 2%, despite hopes to avoid this outcome.
This situation has triggered a clear shift in Thai consumers’ spending behavior—from aggressive to defensive. It is not that people do not want better lives, but the cost of economic mistakes has become “too expensive” to justify taking on long-term debt.
Thais are entering an era of “renting to use.”
Data from SCB EIC clearly reflect this trend: modern consumers increasingly rent not only homes and cars but also semi-durable goods and various lifestyle products—from evening gowns and cameras to sound systems and event equipment or new gadgets.
The reason is simple: many items are needed only for short periods but have high purchase prices and depreciate quickly. In a time when every baht must be carefully spent, renting becomes a smarter choice, not a poorer one.
Although many Thais still view owning a home and car as symbols of stability and success, in practice, younger generations question this equation because ownership entails 20–30 years of debt in an economy growing below 2% consecutively.
SCB EIC estimates that the concept of “renting instead of owning” will become even clearer over the next 3–5 years, especially among those under 45, who prioritize value, usability, and financial flexibility over holding excess assets.
The rental model for goods and appliances is booming worldwide amid rising living costs.
This is not only a consumer behavior shift but also an economic adjustment on both demand and supply sides amid weakening purchasing power. Models that help “ease burdens” for customers become business lifelines, a trend seen globally. The lifestyle goods rental market worldwide is projected to grow at an average annual rate of 21% from 2022 to 2026 amid economic volatility and rising costs.
Renting allows consumers access to high-quality products without large upfront payments, reduces maintenance and storage burdens, and avoids headaches from rapid obsolescence. SCB EIC’s survey also shows that Thai consumers who have rented lifestyle goods are likely to rent again, while over 60% of those who have never rented may enter the market, mainly because it is “cost-effective, economical, and avoids unnecessary burdens.”
Not owning a home is no longer considered wrong.
As a result, many people now see “renting” not just as a temporary step but as a life solution for certain periods. This is why Sena believes 2026 will mark the full “golden age of renting and hire-purchase” in Thailand’s real estate market, reflected by the success of solutions like RentNex, or “Rent Direct with Sena,” designed for younger generations who do not want to tie their lives to long-term debt.
Data show more than 520 units rented out and an average of 70–80 units leased monthly without full marketing efforts. Locations near BTS stations, job centers, and universities in Bangna, Rama 9, and Rangsit yield rental returns as high as around 7%.
All this clearly indicates that 2026 is not the year Thais stop dreaming of a stable life but the year they choose a “lower-risk path” amid the slowest economic growth in 30 years. It is not that they do not want to have assets but that they do not want debt. Renting is no longer a sign of unpreparedness but has become a symbol of mindful survival in an economy where every decision carries a price.
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