In Q2 of 2024, the transfer of condominium ownership by foreigners across the country decreased, with a total of 3,342 units, down by 6.2% compared to the same period last year. The total value of these transfers dropped by 17.7%, amounting to 14,874 million baht. Additionally, the total area of transferred condominiums was 152,219 square meters, down by 8.5% compared to 2023. Chonburi province had the highest share of ownership transfers at 38.4%, followed by Bangkok at 36.4%.
The nationality with the highest condominium ownership transfers during the first six months of the year was Chinese, accounting for 39.5%, followed by Myanmar and Russian nationals. Additionally, there has been an increasing trend in the transfer of second-hand condominiums.
Although foreign condominium ownership transfers in Q2 of 2024 declined slightly, this still signals a positive prospects for investors and tourists looking for new opportunities in the Thai real estate market, especially in key tourism and economic areas such as Chonburi and Bangkok, which accounted for 74.8% of the total transfers nationwide. This reflects the popularity among foreigners who seek residences in well-located and convenient areas.
This period presents a good opportunity for foreign investors as prices of condominiums in some prime locations remain attractive, especially second-hand units in city center areas that are priced lower than new project units, providing investors with better returns on their investments. Furthermore, the Thai government's consideration of increasing foreign property ownership quotas and allowing long-term property leases is expected to boost investor confidence in the Thai market.
Condominium ownership transfers remain a potential market for foreign investors, especially in prime locations such as Chonburi and Bangkok, which continue to attract tourists and investors consistently.
For Additional Information : Government Public Relations Department, Office of the Prime Minister
Link : www.thaigov.go.th
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