Pattaya and Bangkok remain top foreign buyer hotspots amid slower condo transfers elsewhere
Despite a slight nationwide slowdown, foreign ownership’s share of Thailand’s condo market keeps growing, with Bangkok and Pattaya dominating over 80% of market value in Q1 2025.
PATTAYA, Thailand – The latest data from the Real Estate Information Center (REIC) under the Government Housing Bank (GHB) reveals a slight decline in foreign condominium ownership transfers nationwide during the first quarter of 2025. However, Bangkok and Chonburi provinces—home to Pattaya—continue to dominate as the main areas favored by foreign buyers, together accounting for over 80% of the total market value.
In Q1 2025, foreigners transferred ownership of 3,919 condo units valued at 16.39 billion baht, covering a total area of 164,376 square meters. Compared to the same period last year, the number of units sold fell slightly by 0.5%, value dropped 9%, and total area decreased by 5%. Despite this mild slowdown, the share of foreign ownership in the overall condo market actually increased to 18% of units and 29.3% of value, up from 16.7% and 28.6% respectively last year.
Chinese buyers remain the largest group, making up 37.8% of unit transfers and 37.3% of transaction value. However, transfers by Chinese nationals have decreased, partly due to concerns over Thailand’s safety image affecting Chinese tourism and investment. Other significant nationalities include Myanmar (11.2% of units, 9.7% value) and Russia (7.3% units, 6% value). British buyers, while smaller in number, recorded the highest average transaction value at 5.7 million baht per unit and the largest average unit size of 60.1 square meters, reflecting a high purchasing power segment.
Bangkok holds the largest share of foreign condo purchases by number of units at 43.3%, followed by Chonburi province at 33.4%, together representing 76.7% of foreign purchases. In terms of transaction value, these two provinces combined account for 81.5% of the national total, with Bangkok at 58.3% and Chonburi at 23.2%.
Overall, foreign ownership continues to play a crucial role in Thailand’s condominium market, particularly in Bangkok and the popular coastal area of Pattaya, despite recent challenges affecting certain buyer groups.
Chinese remain the largest group of foreign condo buyers despite a dip over safety and tourism concerns, while Brits top the charts for highest average purchase value, favoring larger, premium units.