Chinese Investors Maintain Dominance as Leading Foreign Buyers of Condominiums in Thailand

Chinese and Russian buyers have emerged as the leading foreign purchasers of condominiums in Thailand this year, driving a substantial uptick in sales in coveted tourist hotspots like Bangkok, Pattaya, and Phuket.

Key insights

The transfer of condominiums to foreigners in Thailand saw a modest rise in the fourth quarter of last yea, signaling a gradual resurgence of foreign buyers.

Leading the pack are Chinese nationals, followed closely by Russians and Americans, in terms of condominium purchases in Thailand.

Chinese buyers dominate market with almost 50% share of total transactions

Chinese buyers dominated the market, comprising around 5,000 units, almost 50% of all transactions, and totaling almost 25 billion baht in value. Trailing behind were Russian buyers with almost 1,000 units, followed by United States and Taiwanese buyers in the third and fourth positions, respectively.

Chonburi overtakes Bangkok as the leading sales destination

Chonburi Province has overtaken Bangkok as the region with the highest number of condominium ownership transfers among foreigners.

Approximately 45% of the condos were sold in Chon Buri province, known for its beautiful beaches and industrial estates. Bangkok, Thailand’s bustling capital and a major tourist hub, accounted for 39% of apartment sales to foreigners, according to the center's report

The demand for condominiums in Thailand remains robust, especially in key provinces and tourist hotspots. If tourism continues to expand, it is expected to drive further growth in foreign buyers of housing.