A deep dive into Thailand’s property crisis that is not being allowed to correct.
Kasikorn Bank links can be found in the original videos.
Sources
1. Household debt 16.3 trillion baht, 87% of GDP (official)
https://www.nationthailand.com/business/economy/40050996
2. Including informal loans: 104% of GDP — Chulalongkorn University/JSCCIB
https://www.bangkokpost.com/business/general/2935951/
3. 40% of households have informal debt, average 98,538 baht
https://www.bangkokpost.com/business/general/2935951/
4. Loan shark rates up to 240% annually
https://www.khaosodenglish.com/featured/2024/11/25/thai-household-debt-drops-below-90/
5. Shark loans totalled 67 billion baht, 47.5% for daily consumption
https://www.khaosodenglish.com/featured/2024/11/25/thai-household-debt-drops-below-90/
6. NPLs exceed 1.2 trillion baht in credit bureau system
https://gam-legalalliance.com/insights/thailands-household-debt-crisis/
7. Personal loan NPL ratio 10.77%
https://www.nationthailand.com/business/economy/40050996
8. 3.4 million people targeted by debt-relief programme
https://www.oecd.org/en/publications/oecd-economic-surveys-thailand-2025_426b9bc0-en/
9. SAM Debt Clinic: 55,000-60,000 restructured cases
https://gam-legalalliance.com/insights/thailands-household-debt-crisis/
10. Workers under 7,800 baht/month: real income fell 18.5%
https://www.krungsri.com/en/research/research-intelligence/household-wealth-2025
11. Average worker real income growth 0.8% per year since pre-COVID
https://www.krungsri.com/en/research/research-intelligence/household-wealth-2025
12. 40-50% of income spent on debt interest
https://gam-legalalliance.com/insights/thailands-household-debt-crisis/
13. Commercial bank lending contracted 1.2%
https://www.khaosodenglish.com/featured/2024/11/25/thai-household-debt-drops-below-90/
14. Over 50% of workers not formally employed
https://www.imf.org/en/news/articles/2025/04/09/cf-thailand-can-ease-household-debt-burden
15. IMF projects 2% growth 2025, 1.6% 2026
https://www.fastbull.com/news-detail/thailands-household-debt-crisis-a-looming-drag-on-4353572_0
16. Property market coldest period in two decades
https://www.fastbull.com/news-detail/thailands-household-debt-crisis-a-looming-drag-on-4353572_0
17. Car sales dropped 26% in 2024
https://www.fastbull.com/news-detail/thailands-household-debt-crisis-a-looming-drag-on-4353572_0
18. Tourism declined 7.5% YoY first 9 months 2025
https://www.fastbull.com/news-detail/thailands-household-debt-crisis-a-looming-drag-on-4353572_0
19. Debt described as “cancer” not “bomb” by economists
https://gam-legalalliance.com/insights/thailands-household-debt-crisis/
20. 7th highest household debt-to-GDP ratio globally
https://www.fastbull.com/news-detail/thailands-household-debt-crisis-a-looming-drag-on-4353572_0
21. Informal debt: 100,000-200,000 baht per household, 20%+ per month
https://gam-legalalliance.com/insights/thailands-household-debt-crisis/
22. Debt driven by necessity not investment — Bangkok Bank
https://www.fastbull.com/news-detail/thailands-household-debt-crisis-a-looming-drag-on-4353572_0
23. Bank foreclosure listings — Kasikorn, Krungsri, others
https://propertysights.com/articles/buy-bank-foreclosed-assets/
24. Household debt peaked 95.5% GDP March 2021, now ~86-88%
https://www.ceicdata.com/en/indicator/thailand/household-debt–of-nominal-gdp