Revealing Thailand's Top Foreign Property Buyers: Who's Investing in the Thai Real Estate Market

In Q1 2566 (2023), there was a remarkable 79.2% increase in foreign condominium transfers compared to the same period last year. The reopening of the country in the second half of 2565 played a crucial role in facilitating ownership transfers for foreign buyers.
Geographically, Chonburi province led with 42.4% of foreign condominium transfers, closely followed by Bangkok at 37.7%. These two provinces accounted for 80.1% of the total transfers.
Chinese nationals remained the largest group of foreign buyers, accounting for 46.3% of units and 47.8% of value transfers. Russians were the second largest group, with 10.3% of units and 8.0% of value transfers.
Condominium units priced below 3.00 million baht were most preferred by foreign buyers, representing 50.3% of units transferred. However, the highest-value transfers occurred in the price range above 10.00 million baht, accounting for 32.0% of the total value.
Unit sizes ranging from 31-60 square meters (1-2 bedrooms) were highly favored by foreign buyers, accounting for 52.5% of transfers. Units below 30 square meters (studio or 1 bedroom) followed closely, comprising 31.1% of transfers.
Chonburi and Bangkok dominated the market, with Chonburi leading in the number of transfers and Bangkok in the highest value of transfers. These two provinces accounted for a significant 80.1% and 84.8% of transfers, respectively.
The data suggests that demand for foreign condominium transfers has surpassed pre-COVID-19 levels, indicating a recovering market. The gradual reopening of the country and the recovery of the tourism industry are significant factors attracting more foreign buyers from Europe, America, Australia, Russia, and Asian countries.
As an investor interested in Thailand’s property market, consider both resale and new units. Resale units offer attractive prices and prime locations, while new units present opportunities for long-term growth and potential capital appreciation.
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