Thailand's construction sector faces significant headwinds in 2026-2027. Public construction investment will contract 13% year-over-year to ~490 billion baht in FY2570, projected to shrink 5% in absolute value. Private construction will stagnate (flat to 1% growth). The residential market is particularly weak: new unit openings in Bangkok and vicinity will drop sharply to just 44,000 units/year—a historic low—driven by high household debt, tighter lending standards, and global geopolitical uncertainty. Key risks include sustained high material costs and delayed mega-project tendering (Southern double-track rail).