Chinese influx driving Thai property market: A quiet boom in investment and long-term residency
The rise of Chinese investors and long-term residents in Thailand is quietly driving growth in the property market, especially in mid-to-upper-tier housing.
Surachet Kongcheep, Head of Research and Consultancy at Cushman & Wakefield Thailand, highlighted that while Thailand's tourism numbers in the first half of 2025 showed a 5% drop year-on-year, the focus should be on the growing trend of Chinese nationals moving to Thailand not just for tourism, but for long-term residence and business investments.
Despite the 34% drop in Chinese tourists to around 2.27 million in 2025, down from over 3 million the previous year, a new trend has emerged: Chinese nationals are increasingly choosing to live, work, invest, and study in Thailand. This is a new “DNA” for Thailand’s real estate market, driving demand for housing and condominiums, especially in mid-to-upper-tier segments.
In May 2025, Chinese businesses registered 454.55 billion baht in capital, accounting for 10.34% of all foreign businesses in Thailand, placing China among the top three investors, alongside Japan and Singapore. This demonstrates that China is building a serious business base in Thailand, not just sending tourists.
In addition, the number of Chinese work permit holders in Thailand reached 47,128 as of May 2025, surpassing Japan, which had previously held the top spot for foreign workers. This group is not just working temporarily, but is establishing long-term residence and contributing to the local economy.
An interesting development is that Chinese students now represent the largest group of foreign university students in Thailand, with 23,243 students enrolled for the 2025 academic year. This is part of a broader trend of foreign students, with around 40% of them coming from China, South Korea, Vietnam, and other countries, and further driving demand for student housing and condominiums near universities and education centres.
Surachet pointed out that Chinese nationals are not just visiting—they are increasingly integrating into Thailand’s economic structure. With work permits or business registrations, they are more likely to stay long-term, purchasing or renting property, which contributes to real demand in the real estate market, unlike temporary tourists. This shift is especially noticeable in areas close to public transport and business hubs.
The rise of Chinese nationals in Thailand is also reflected in the growing number of property transactions in the condominium market, with Chinese buyers now dominating the market for condo ownership. This trend has seen an uptick since 2022, with Chinese buyers surpassing Japanese nationals in terms of property transactions.
“Thailand’s ease of doing business, coupled with relatively simple and straightforward regulatory processes, has made it an attractive destination for Chinese nationals seeking to live or invest in the country long-term,” said Surachet.
This is a new trend that Thai property developers need to closely monitor, as it marks a significant shift in the demand dynamics within the country’s real estate market.
