Chinese buyers boost Thai condo sales to 51 Billion Baht

Foreigners have purchased Thai condos worth 51 billion baht in just nine months. China is the leading buyer, while India has made the most expensive purchases.

Key takeaways

• Chinese nationals dominate Thailand’s condominium market, accounting for over 39% of units and ownership value transferred in the first nine months of 2024.
• Bangkok and Chonburi lead in foreign condominium ownership, representing 74.7% of total transfers by both units and value.
• Indian buyers purchase the most expensive and spacious units, averaging 6.3 million baht and 76.5 square meters per condo.

In addition, Bangkok led the way with 38.7% of the total units transferred, followed closely by Chonburi Province at 36.0%. Together, these two provinces accounted for a significant 74.7% of the total number of units and the total value of condominium ownership transfers by foreigners nationwide.

In the first nine months of 2024, Chinese nationals led the way in both the number of units and the value of ownership transfers, accounting for 39.7% and 39.3%, respectively.

Burmese nationals followed, making up 9.5% of the units and 10.6% of the value, while Russian nationals were in third place with 7.2% of the units and 5.3% of the value.

Additionally, Indian buyers stood out with the highest transfer value per unit and the largest room sizes. The average transfer value per unit for Indian buyers was 6.3 million baht, and the average room size was 76.5 square meters.

Chinese nationals, who account for the largest proportion of apartment transfers, have an average transfer value of 4.6 million baht per unit and an average apartment area of 39.1 square meters.

Meanwhile, Burmese nationals have transferred ownership of 1,050 units, with a significant increase in the value of ownership transfers, reaching 5,463 million baht. This represents a 142.9% increase from the same period last year, which had a value of 2,250 million baht.