Foreign buyers flock to Thailand’s tropical condos: Chinese and Russians lead

Foreign buyers such as the Chinese and Russian are dominating the condominium scene, turning Bangkok, Pattaya, and Phuket into international real estate playgrounds.

A staggering 10,703 units, raking in a jaw-dropping 52.3 billion baht, exchanged hands in the nine months leading up to September, marking a whopping 38% surge from the previous year, according to the Real Estate Information Center, a body overseen by the state-owned Government Housing Bank (GHB).

Leading the charge, Chinese buyers seized a lion’s share, snapping up 4,991 units valued at an eye-watering 24.7 billion baht, accounting for a staggering 47% of the total transactions, as reported by the centre using property registration data. Not far behind, Russians clinched a distant second with 962 units, while the United States and Taiwanese buyers claimed the third and fourth spots.

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