Free visa policy expected to boost condominium sales

According to REIC, ownership transfer of condominiums to foreigners for living and investment purposes has recovered to the pre-Covid-19 pandemic period.

Some 7,338 units of condominiums worth 35.21 billion baht were transferred to foreigners in the first half of this year, up 65.6% and 57.8% year on year respectively, it said.

Chinese buyers snapped up the biggest number of condominiums during the first six months, purchasing 3,448 units worth 16.99 billion baht.

They were followed by Russians (702 units worth 2.55 billion baht), Americans (293 units worth 1.28 billion baht), the French (269 units worth 1.12 billion baht) and the British (260 units worth 1.28 billion baht).

Myanmar nationals spent the most at an average of 7 million baht per condominium while Indian buyers opted for the most spacious with an average of 89.8 square metres.