While the number of Thai nationals buying domestic condominiums has slowed down, the demand from foreign buyers continues to surge, accounting for 24.6% of the total property transfer value nationwide in the first half of this year, up from 20.5% the previous year.
Condo buildings under contruction in Bangkok (Photo: Pattanapong Hirunard)
Bangkok (VNA) – Whilethe number of Thai nationals buying domestic condominiums has slowed down, thedemand from foreign buyers continues to surge, accounting for 24.6% of thetotal property transfer value nationwide in the first half of this year, upfrom 20.5% the previous year.
Leading the way among foreign buyers arecustomers from China with 3,488 units, followed by Russia, the US, France andthe UK.
Vichai Viratkapan, Acting Director General ofthe Real Estate Information Centre (REIC), said the increase in the transfervalue of condominiums to foreign buyers is due to Thailand fully reopening inthe second half of the previous year. This allowed foreign buyers of pre-salecondominiums to return and complete their transactions. Furthermore, the numberof foreign buyers of completed condominiums, ready for transfer fromdevelopers, has also increased, he added.
According to the REIC, the number of condominiumtransfers to foreign buyers in the first half of this year reached 7,338 units,with a total value of 35.2 billion THB (979 million USD), representingincreases of 65.6% and 57.8%, respectively.
ℱ Chon Buri province hastaken the lead in the number of condominium transfers to foreign buyers,surpassing the capital city of Bangkok for the first time./.
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Condo buildings under contruction in Bangkok (Photo: Pattanapong Hirunard) 
