The Central Real Estate Information Agency REIC shared figures on Chinese buyers and their impact on the Kingdom’s housing market.
In the first nine months of 2021, Chinese nationals purchased about 60% of condominium apartments.
Moreover, the buyers were nationals of Vanuatu, the USA, the UK, and France. In the first half of 2021, Chinese citizens also ranked first, but Russia, Great Britain, France, and Germany were next in the ranking.
However, Singaporeans are the top buyers of elite properties. The average value of one apartment purchased by Singaporeans was $151,000. Americans bought the largest residential units — an average of 54.8 sq. m.
The average area of apartments in the first nine months of 2021 was 43 sq. m., and the average price was $148,000 or about $3,500 per sq. m.
There are five main destinations for foreign buyers: Bangkok, Chonburi, Phuket, Prachuap Khiri Khan, and Nonthaburi.
In Bangkok, foreigners bought 3,246 housing units for $657,000. In Chonburi, 1,738 properties were sold for $125,000.