After a two-year hiatus caused by COVID-19, the Thai condominium market is experiencing a significant revival. According to the latest data from the Real Estate Information Center (REIC), in the first quarter of 2023 there was a noticeable surge in foreign buyers caused by the recovery of the tourism industry. Among the 10 largest international clients buying Thai condominiums, there are buyers from China, Canada, the United States, Great Britain, Germany, France, Taiwan, Myanmar, Australia and Japan. This trend points to positive prospects for the Thai real estate market, as it continues to attract a variety of international clients.
The Real Estate Information Center (REIC) reported that during the three months from January to March, the first quarter of 2023, foreign buyers returned to significantly stimulate the real estate market.
Going back to 2022, 11,561 condominium units worth 59 billion baht were transferred to foreigners during the year, 3,775 units were transferred in the first 3 months of 2023, which is 79.2% more, which is 17 billion baht, which is 67.6% more than last year.
For TOP-10 foreign clients it looks like this:
- No. 1 China (46%), 1,747 units worth 8 billion baht
- No. 2 Canada (10%), 387 units worth 1.3 billion baht
- No. 3 USA (4%) 156 units worth 653 million baht
- No. 4 UK (4%) 146 units worth 703 million baht
- No. 5 Germany (3%) 131 units worth 611 million baht
- No. 6 France (3%) 130 units worth 606 million baht
- No. 7 Taiwan (2%) 94 units worth 468 million baht
- No. 8 Myanmar (2%), 76 units worth 497 million baht
- No. 9 Australia (2%), 71 units worth 310 million baht
- No. 10 Japan (2%), 63 units worth 310 million baht