Foreign Condo Transfers Show Slight Slowdown
The first quarter of 2025 has seen a slight slowdown in foreign condo transfers in Thailand, with Chinese buyers leading the market. Despite global economic volatility, the Real Estate Information Center (REIC) reported 3,919 foreign condo units transferred, totaling 16.39 billion baht, with foreign ownership holding steady at 29.3% of the total transaction value.
China's Dominance Wanes as Myanmar and Russia Rise
China remains at the forefront with 1,481 units transferred, despite a 19.2% decline, reflecting cautious buyer sentiment. Myanmar and Russia have shown significant movements, with Myanmar jumping to second place with a 12% increase in transfers, and Russia seeing a 6.9% increase in transaction value despite fewer units.
Global Economic Challenges Impact Buyer Sentiment
The data underscores the cautious approach of foreign buyers amidst global economic uncertainties. While some countries like Taiwan and the UK have seen increases in transaction value, others like China and Germany have experienced declines.
Top Countries by Transfers and Value
China leads in both the number of units and transaction value, followed by Myanmar and Russia. The UK has seen a remarkable 99.7% increase in transaction value, highlighting the diverse investor confidence in Thailand's real estate market.
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