Economy Thailand Sees Slight Rise in Foreign Condo Transfers Despite Value Drop

[snoop1130]

File photo for reference only

 

Condo transfers to foreign buyers in Thailand saw a modest increase of 0.86% over the past year, though the total transaction value dipped by 6.8%. This trend reflects ongoing concerns about the global economy, particularly as US tariff policies add further pressure.

 

The Real Estate Information Center (REIC) has noted steady foreign interest in Thai condominiums, even amidst economic uncertainties sparked by tariff hikes. However, the purchasing power of buyers from key markets, like China and Russia, faced challenges. China, the largest group of foreign buyers, transferred 5,670 condo units in 2024, representing 38.9% of the total units and valued at 26.6 billion baht. This is a decline from the previous year's 6,614 units worth 34.1 billion baht.

 

Myanmar buyers ascended to second place by acquiring 1,388 units, overtaking Russian buyers, whose purchasing power has weakened. Russians fell to third in unit count and fourth in value, as political and economic challenges continue to affect their buying capacity.

 

 

 

In 2024, foreigners acquired 14,573 condo units across Thailand. While this reflects a slight increase, the value share decreased compared to 2023, representing 23% of the total. Bangkok reclaimed the top spot for foreign condo transfers at 39%, overtaking Chon Buri, which stood at 35.1%. Both Phuket and Chiang Mai also shifted rankings, with Samut Prakan solidifying its fifth place.

 

The average size and value of condo units purchased by foreigners were notable, with units averaging 44.1 square metres and valued at approximately 4.7 million baht each. Indian buyers topped the list for the highest average price and size, with units costing 5.9 million baht and measuring 71.6 square metres on average.

 

Looking ahead, the REIC anticipates that condo transfers to foreign buyers may remain flat or rise slightly, with steady interest expected from Chinese, Myanmar, Russian, and Taiwanese buyers. Despite the economic headwinds, Thailand's real estate market remains an attractive option for international investors seeking property in the region.

 

Adapted by ASEAN Now from Bangkok Post

 

-- 2025-04-22

 

 

[gargamon]

Maybe it's that they're overpriced and the market is stabilizing.

[Bangkok Alex]

So... they are comparing 2024 with 2023 and the main argument for the overall market concern is the US tariffs that have been first discussed in February 2025? 🤷‍♂️

[J Branche]

14 hours ago, Bangkok Alex said:

So... they are comparing 2024 with 2023 and the main argument for the overall market concern is the US tariffs that have been first discussed in February 2025? 🤷‍♂️

Shhh, we need to blame someone or something.  Not the Foreign Sourced Income Tax, changes in Visa policy, Digital Arrival Card, and decline in Chinese tourists.

[Grusa]

Yes  but....... that was all before the State Auditors Office collapsed.  Let's look at next years figures.......

[hotchilli]

High rises in Bkk now seem out of vogue.... I wonder why

[thesetat]

17 hours ago, snoop1130 said:

Condo transfers to foreign buyers in Thailand saw a modest increase of 0.86% over the past year,

They use stats for the whole year and value dropped after the quake hit. Very misleading. 

[Hardcastle P]

18 hours ago, gargamon said:

Maybe it's that they're overpriced and the market is stabilizing.

And after the earthquake?

[CallumWK]

49 minutes ago, thesetat said:

They use stats for the whole year and value dropped after the quake hit. Very misleading. 

 

Was there a quake in 2024 or 2023, because that is the year the values are about?

[Toby1947]

Wow, better up my latest offer from 4 pork sausages to 4 beef sausages and chance being robbed. 😅🤣 

[Toby1947]

14,573, big deal there's more than that for sale in Pattaya & Jomtien alone. Jerry built rubbish falling apart after 5 years