Phuket, Rayong and Samui post transfer growth in Q1

Phuket, Rayong and Samui were the only destinations to record growth in residential transfers in the first quarter of 2025, following a crackdown on nominee ownership by the Central Investigation Bureau (CIB).

- KANANA KATHARANGSIPORN

Kamonpop Veerapala, president of the Government Housing Bank and acting director-general of the Real Estate Information Center (REIC), said the crackdown led to a decline in nominee ownership and encouraged more legal property transfers.

"The crackdown deterred both foreign buyers and Thais involved in facilitating nominee ownership from engaging in illegal practices," he said. "As a result, residential transfers in destinations with strong foreign demand increased in the first quarter."

Since November last year, the Department of Business Development partnered with the Royal Thai Police to crack down on the use of Thai nominees by foreign businesses across Thailand, including in the property sector.