Foreigners are losing interest in secondary housing in Thailand, Chinese citizens are buying up the most apartments in the kingdom

Foreigners are losing interest in secondary housing in Thailand, Chinese citizens are buying up the most apartments in the kingdom

Real Estate Information Center has published statistics on the purchase of apartments in condominiums in Thailand by foreigners in the 4th quarter of 2021. A total of 2,073 apartments were sold during this period, which is 20% less than in the same period last year, but this is more than the average value for COVID-19 (2020-2021).

The total cost of apartments bought by foreigners in condominiums amounted to 9,888 million baht, which is 22.5% less than in the previous year. The total area transferred to foreigners was 92,043 m2, which is 12.8% less than in the previous year.

In the fourth quarter of 2021, only 30.1% of the apartments bought by foreigners were secondary. The ratio of secondary apartments and new ones was 1:2.

The share of second-hand apartments bought by foreigners in condominiums has been continuously falling for 4 quarters since the first quarter of 2021.

Apartments worth no more than 3 million baht became the most popular among foreigners, 49.7% of the total number of apartments were bought in this price group. Basically, these are apartments with an area of 31 m2 - 60 m2 (1-2 bedrooms).

The greatest demand for condominiums in Thailand among foreigners comes from Chinese citizens. In 2021, a total of 4,867 apartments in condominiums were transferred to the Chinese, which is 59.4% of the total. The following positions are occupied by buyers from the USA, Great Britain and Germany.

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