China still tops Thai condo market, Myanmar jumps to No.2

2026-03-04 - 11:13

BANGKOK — Foreign buyers remain a key force in Thailand’s condominium market, with Chinese nationals retaining the top spot in 2025 despite a decline, while Myanmar buyers posted the strongest growth to rank second. Narongpol Prabhanirin, acting director of the Real Estate Information Center (REIC), said foreign condominium transfers in the fourth quarter of 2025 totaled 3,888 units, up 1.1% quarter on quarter and 9.3% year on year. Although transfer value rose only slightly from a year earlier, the higher growth in unit numbers reflects a drop in average unit prices, particularly in the mid price segment. For the full year 2025, foreign buyers transferred 14,899 condominium units, up 2.2% from 2024. However, total transfer value fell 10.7% to 60.92 billion baht. Foreign ownership accounted for 14.7% of all condominium units transferred nationwide and 25% of total transfer value. Under Thai law, foreigners may own up to 49% of the saleable area of a condominium project. Top provinces The 10 provinces with the highest number of foreign transfers were led by Bangkok with 7,029 units worth 35.39 billion baht, followed by Chonburi with 4,164 units worth 11.59 billion baht, and Phuket with 1,190 units worth 6.09 billion baht. Other provinces included Chiang Mai, Prachuap Khiri Khan, Samut Prakan, Surat Thani, Rayong, Phetchaburi and Nonthaburi. China remains No.1 By nationality, Chinese buyers remained the largest group despite declines. In 2025, Chinese nationals transferred 4,940 units, down 12.9% year on year, with total value falling 30% to 18.59 billion baht. They still accounted for 33% of total foreign unit transfers and 31% of total value, mainly in Bangkok, Chonburi and Chiang Mai. Myanmar jumps to second Myanmar nationals ranked second with 1,968 units, surging 41.8% from a year earlier. However, transfer value slipped 12.5% to 6.16 billion baht. Purchases were concentrated in Bangkok, Samut Prakan and Chiang Mai. Russian buyers followed with 1,172 units, up 8.6%, while transfer value jumped 30.3% to 4.77 billion baht, mainly in Phuket, Chonburi and Prachuap Khiri Khan. Other key markets included Taiwan, the United States, France, the United Kingdom, Germany, India and Singapore. Narongpol said the drop in Chinese transfers was likely due to stricter capital outflow controls in China and Thailand’s tighter measures against illicit “grey capital,” leaving primarily genuine demand buyers seeking residences, rental investments or long term stays for business. He said the shift has made Thailand’s condominium market more resilient heading into 2026.