Foreign condo purchases see 6.8% decline in value

Condo transfers to foreign buyers in Thailand rose by 0.86% last year, but the total value declined by 6.8%, reflecting concerns over a weakening global economy that may face additional pressure from the US's tariff policies.

- KANANA KATHARANGSIPORN

The Real Estate Information Center (REIC) reported that foreign interest in Thai condos remained steady but might slow due to global economic uncertainty driven by the US tariff hikes.

"Purchasing power from Chinese and Russian buyers weakened last year, with China facing domestic economic challenges," said Siddhipen Siddharthapong, acting assistant director-general of REIC.

Chinese buyers remained the largest group, with 5,670 condo units transferred nationwide in 2024 — 38.9% of total units — worth 26.6 billion baht, or 39% of the total.

This dropped from 6,614 units worth 34.1 billion baht in the previous year, representing 45.8% and 46.7% of the total, respectively.