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FRIDAY, December 08, 2023

Chinese nationals biggest property buyers in Thailand

Chinese nationals biggest property buyers in Thailand
FRIDAY, December 31, 2021

Nearly 60 per cent of condominium units sold in the first nine months of 2021 were bought by Chinese nationals, Wichai Wirattaphan, acting director of the Real Estate Information Centre, said recently.

According to statistics released by REIC, nationals from five countries were the biggest buyers of property in Thailand, namely:
• China: 17.8 billion baht (59.9 per cent)
• Vanuatu: 1.01 billion baht (3.4 per cent)
• United States: 864 million baht (2.9 per cent)
• United Kingdom: 732 million baht (2.5 per cent)
• France: 711 million baht (2.4 per cent)

Wichai said Vanuatu nationals only bought 23 units, but this made a big dent in the property market because each unit was worth 44 million baht on average.

In the first nine months of 2021, the average size of units bought came in at 43 square metres at an average value of 4.9 million baht or 114,000 baht per square metre.

US nationals bought bigger units averaging at 54.8 square metres, while the most expensive units or 5.1 million baht on average were bought by Singaporeans.

The top five provinces popular among foreign buyers are:
• Bangkok
• Chonburi
• Phuket
• Chiang Mai
• Prachuap Khiri Khan

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Foreigners bought 3,246 or 53 per cent of units up for sale in Bangkok, while Chonburi came in second with 1,738 units or 28.4 per cent.

The top five provinces with the highest value of units transferred to foreigners are:
• Bangkok
• Chonburi
• Phuket
• Prachuap Khiri Khan
• Nonthaburi

Units sold to foreigners brought 21.76 billion baht in Bangkok and 4.14 billion baht in Chonburi.