Foreign ownership of condominiums in Thailand showed a slight increase in the third quarter of 2023, signaling a gradual return of foreign buyers. Chinese nationals continue to dominate the market, accounting for almost half of the total transactions. Russians and Americans follow behind as significant buyers.
Chinese buyers accounted for around 47% of the total transactions, with a value of 24.7 billion baht. Russians came in second with 962 units purchased. Chonburi Province surpassed Bangkok as the top location for condominium ownership transfers by foreigners, with approximately 42% of the transactions occurring there.
Overall, for the first nine months of the year, there was a significant increase in the number of units purchased by foreigners, totaling 10,703 units worth 52,259 million baht. The demand for condominiums in Thailand remains strong, particularly in major provinces and tourist destinations.
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