Bangkok still No 1 for foreign condo buyers, Phuket overtakes Chiang Mai

Managing director Nattha Kahapana said the Covid-19 pandemic had not affected Bangkok’s status as No 1 among foreign buyers – but Chiang Mai has fallen in the rankings.

The top 10 provinces for foreigners buying condominiums before the pandemic were:

1. Bangkok

2. Chonburi

3. Chiang Mai

4. Phuket

5. Samut Prakan

6. Prachuap Khiri Khan

7. Nonthaburi

8. Rayong

9. Pathum Thani

10. Chiang Rai

However, Phuket and Samut Prakan have now leapfrogged Chiang Mai to become the third and fourth favourite places for foreign condo buyers, Nattha said.

The top 10 provinces for foreign condo buyers now are:

1. Bangkok

2. Chonburi

3. Phuket

4. Samut Prakan

5. Chiang Mai

6. Prachuap Khiri Khan

7. Pathum Thani

8. Phetchaburi

9. Rayong

10. Nonthaburi

The top buyers since 2018 are Chinese nationals, followed by Russians, Americans, Britons and Germans, Nattha revealed.

He said the four most popular locations in Bangkok for foreign condo buyers are Sukhumvit, Phrom Phong, Thong Lor and Ekkamai. Most buyers here were from Japan, the European Union, Britain or the US.

Nana and Asok remain popular with Middle East buyers while Ratchadapisek, Huay Kwang and Phraram 9 are preferred by Chinese and South Korean condo buyers, Nattha said.

Silom is preferred by EU citizens, Australians and Singaporeans.

A total of 48,743 condominium units were sold to foreign buyers from 2018 to September 2022, Knight Frank said.

The figures break down as follows:

2018: 13,568 units worth 582.558 million baht

2019: 12,798 units, worth 506.23 million baht

2020: 8,290 units worth 213.162 million baht

2021: 8,199 units worth 455.331 million baht

2022: 5,888 units worth 275.651 million baht