BANGKOK (NNT) – Reports have indicated that the Thai real estate market in 2023 witnessed a significant increase in condominium transactions by foreigners, with a total of 49,250 units sold from developers’ projects.

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Data notably showed that foreign nationals accounted for 5,036 units or 10.2% of all condo sales, totaling a value of 31.601 billion baht, or 17.9% of the total sales value, marking a new high for the market.

According to Sopon Pornchokchai, a property valuer and real estate researcher in the ASEAN Region, Africa, and South America, the activity of foreign condo purchases reflects the stability and attractiveness of the Thai real estate market.

It also indicates the desire of foreigners to reside and invest in Thailand, with the average price of condos sold in 2023 reaching 6.27 million baht per unit, showing a preference for high-priced units among foreigners.

Full story: National News Bureau of Thailand

Krajangwit Johjit
National News Bureau of Thailand