Chinese nationals bought nearly 40% of condos sold to foreigners in H1
Purchases by Myanmar nationals up 250% year on year
Chinese nationals bought 2,872 condo units in Thailand from January to June, accounting for 39.5% of all condominium ownerships transferred to foreigners in the first six months of 2024, the Government Housing Bank’s Real Estate Information Centre (REIC) reported on Friday.
In second place are buyers from Myanmar at 638 units (8.8%), followed by Russia 567 units (7.8%), Taiwan 326 units (4.5%), and the United States 292 units (4%).
Condo units bought by Chinese have a combined value of 13.2 billion baht, or 40.1% of the value of condos transferred to foreigners during the said period, REIC director Wichai Wiratkapan said.
He noted that units bought by Myanmar nationals have jumped nearly 250% from the same period of the previous year, when only 182 units were transferred to Myanmar buyers.
Provinces where foreigners bought most condominiums in the first half of this year were Chonburi, Bangkok, Phuket, Chiang Mai and Samut Prakan, respectively; nearly 75% of units bought by foreigners are either in Chonburi or Bangkok.
The eastern resort province recorded 2,792 condo units being transferred to foreigners in the first six months, or 38.4% of all units sold to foreigners, while Thailand’s capital saw 2,651 condo units transferred to foreigners, or 36.4%.
Wichai said the transfer of condominium ownership to foreigners in the first six months of 2024 shows a decrease in both the number of units, value, and area compared to the same period last year.
It is noteworthy that these transfer figures reflect the majority of transactions that have occurred recently, he added.
