Foreign investor interest in the Thai property market continues to grow. According to the Real Estate Information Center (REIC) of the Government Housing Bank (GH Bank), in the first six months of 2023, sales of condominium housing to foreign customers increased by 14.7% compared to the same period in 2022, reaching 10.8% of the total. sales
Also, the cost of transactions with non-residents increased by 24.5%, amounting to 20.5% of the total volume of transactions.
The greatest demand for real estate by foreigners is observed in the province of Chonburi, which includes the resort of Pattaya, where 43.4% of all transactions were completed. Bangkok remains the second most popular with a share of 37.7%. The combined share of these two regions is 81.1%. Phuket is in third place with 6.3% of transactions.
Analysts note a shift in dynamics as between 2018 and 2022, Bangkok led the way in the volume of transactions with foreigners, accounting for 48.8% of all transactions, while Chonburi came in second with 30.8%.
The Chinese remain the largest foreign buyers of Thai property, completing 47% of all transactions and contributing 48.3% of the total transaction value. Russians take second place with 9.6% of all transactions and a contribution of 7.3% of total funds.
