Chinese buyers dominated Thailand real estate market in 2021

The acting director of the Real Estate Information Centre (REIC), Wichai Wirattaphan, has stated that Chinese nationals accounted for nearly 60 percent of condominium purchases in Thailand in the first nine months of 2021.

The statistics released by the REIC show that foreigners from the following five nations were the top investors of properties in Thailand: China, Vanuatu, United States, United Kingdom, France. In that order.

Wirattaphan claimed that although Vanuatu nationals only purchased 23 units, they created a significant effect in the real estate market since each property was valued at an average of 44 million baht, accounting for 3.4 percent of the market, second behind Chinese buyers.

Overall, Singaporeans bought more expensive units at an average of 5 million baht per unit, while Americans bought the largest units, averaging 54.8 square metres, according to the data.

The average size of apartments bought in the first nine months of 2021 was 43 square metres, at an average price of 4.9 million baht or 114 thousand baht per square metre.

In Bangkok, foreigners purchased 3,246 units or 53 percent of those on the market, coming in at a total of 21.76 billion baht. Chonburi came second with 1,738 units or 28.4 percent and 4.14 billion baht, respectively.

The following are the top five provinces with the most foreign buyers: Bangkok, Chonburi, Phuket, Prachuap Khiri Khan, Nonthaburi.

SOURCE: The Nation