Statistics from the Real Estate Information Center (REIC), Government Housing Bank (GH Bank), show that foreign buyers transferred 10.8% of all condominiums in Thailand in the first half of 2023, up 14.7% from the same period in 2022.
In comparison to 2022, the value of these transfers increased by 24.5 percent, accounting for 20.5 percent of the total. This suggests that international investors are becoming more interested in the Thai real estate industry.
In terms of condominium transfers to foreign clients nationwide in the first half of 2023 (January-June), Chonburi ranked first with a 43.4 percent share, followed by Bangkok with 37.7 percent, according to an announcement made on September 18, 2023 by Vichai Viratkapan, Inspector General of the Government Housing Bank and Acting Director of the Real Estate Information Center (REIC). These two provinces together held 81.1 percent of the market.
This is a shift from the years 2018 to 2022, when Chonburi and Bangkok, respectively, held the top two spots for foreign property transfers with average shares of 30.8 percent and 48.8 percent.
Together, the two provinces represented 81.1 percent and 85.4 percent of the entire national output in the first half of 2023, respectively. Phuket came in third place with a share of 6.3%.
Chinese citizens continue to be the largest foreign purchasers, with 47.0% of units transferred and 483 % of the total value. With respective numbers of 9.6 percent and 7.3 percent, Russians come in second.
Notably, Indians transferred the largest condominiums, measuring 89.8 square meters, while Myanmarese nationals acquired the highest average price in condominium transfers in the second quarter of 2023, at 7.0 million baht per unit.
In Thailand, 3,563 condominiums were moved from overseas in the second quarter of 2023, up 53.4 percent from the same period the previous year. The total value of these transfers was 18.083 billion baht.
In his statement, Vichai said that “the statistics for the first half of the year reflect a recovery in foreign investment interest, indicating that the numbers are a strong indicator of the overall real estate market’s stability and continued growth.”
READ MOREhttps://www.tourismthailand.org/Destinations/Provinces/Chon-Buri/464
