China, Myanmar, and Russia lead foreign condo transfers in Q1 2025

In the first quarter of 2025, the Real Estate Information Center (REIC) reported a slight slowdown in foreign condo transfers in Thailand, with Chinese buyers still leading the way. However, Myanmar saw a remarkable rise, jumping to second place, while Russia increased its transaction value despite a slight decline in unit transfers.

Amid global economic volatility and cautious buyer sentiment, both domestic and foreign, REIC revealed that 3,919 foreign condo units were transferred in the first quarter of 2025, totaling 16.39 billion baht. This represents a slight decrease compared to the same period last year, with foreign ownership in Thailand's real estate market holding steady at 29.3% of the total transaction value.

China Remains on Top but Sees Decline in Transfers

China continues to dominate with 1,481 units transferred, valued at 6.12 billion baht, though this marks a 19.2% decline in transfers. This drop reflects a more cautious approach among Chinese buyers due to economic conditions in China and a global slowdown in foreign investments.

Myanmar Makes a Strong Comeback

Myanmar saw an impressive 12% increase in the number of condo transfers, securing second place. However, the value of these transactions fell by nearly 30%. This surge may be attributed to increased demand from Myanmar investors, driven by economic growth and housing demand in Bangkok.

Russia Increases Transaction Value Despite Fewer Units

Russia showed a 6.9% increase in transaction value, although the number of units transferred declined slightly. The rise in value likely reflects higher-value purchases by Russian investors, particularly in large cities where luxury real estate is developing.

Ongoing Challenges in the Real Estate Market

This data indicates that foreign buyers in the Thai real estate market are still cautious due to the slow recovery of the global economy, as well as a decline in investment from many countries, including China, the UK, and Germany.

In terms of transaction value, China remains in first place, followed by Myanmar and Russia. Some countries, such as Taiwan and the UK, have seen increases in transaction value, despite a decline in the number of units transferred.

Top 10 Countries by Number of Transfers

•     China: 1,481 units (-7.2%)
•     Myanmar: 439 units (+12%)
•     Russia: 288 units (-2.4%)
•     Taiwan: 197 units (+37.8%)
•     France: 158 units (+22.5%)
•     USA: 147 units (-10.4%)
•     UK: 131 units (+21.3%)
•     Germany: 115 units (-23.8%)
•     Singapore: 93 units (+63.2%)
•     Australia: 61 units (-26.5%)

Top 10 Countries by Value of Transfers

•     China: 6.12 billion baht (-19.2%)
•     Myanmar: 1.59 billion baht (-28.1%)
•     Russia: 987 million baht (+6.9%)
•     Taiwan: 910 million baht (+33.9%)
•     USA: 820 million baht (-10.7%)
•     UK: 744 million baht (+99.7%)
•     France: 612 million baht (+11.2%)
•     Singapore: 511 million baht (+52.5%)
•     Germany: 407 million baht (-16.1%)
•     India: 373 million baht (+2.1%)

The changes observed in the Thai real estate market in the first quarter of 2025 show that, despite global economic uncertainties, Thailand's real estate market remains attractive to investors from various countries. The continued growth in some countries reflects confidence in the long-term potential of the Thai real estate sector, REIC noted.