Foreign Buyers Drive Surge in Thailand Condo Market
Last year, Thailand's condominium market saw a remarkable surge, with a 25% increase in sales to foreign buyers. This spike was fueled by visa waivers and global tensions, attracting investors from China, Russia, and beyond.
According to data from the Real Estate Information Center (REIC), Chinese buyers led the pack, accounting for nearly half of the total units sold. Russians followed, albeit at a distance. The highest average price per unit was paid by buyers from Myanmar, showcasing the diverse mix of investors in the market.
Popular Locations for Myammar and Chinese buyers
Condo Sales Hotspots
Chon Buri and Bangkok were hotspots for condo sales, with affordable units priced under 3 million baht driving demand. These sales were boosted by temporary visa waivers for tourists from China and other countries, along with geopolitical conflicts around the world.
The Tourism Authority of Thailand anticipates a further recovery in tourism numbers this year, aiming to attract between 35 million and 40 million visitors, including 8.2 million from China. These efforts signal a promising outlook for Thailand's economy and real estate market.
Source: Bangkok Post
