Thai condominiums are still in demand among foreign buyers. They are being purchased as second homes in Thailand, as well as investments. The largest foreign purchasers of condominiums in Thailand have been Chinese and Russians, with sales soaring in popular tourist destinations like Bangkok, Pattaya, and Phuket.
Sales surged 38% to 10,703 units, totaling 52.3 billion baht ($1.5 billion) in the first nine months of 2023.
Chonburi (Pattaya), Bangkok, and Phuket are preferred as ideal locations by foreigners.
Chinese buyers snapped up 4,991 units, or almost 47% of the total transactions, valued at 24.7 billion baht. Russians ranked a distant second at 962 units, followed by US and Taiwanese buyers in the third and fourth spots, respectively. (NNT)
