Chinese nationals bought nearly half of condo units sold to foreigners in 2022
Chinese citizens bought the most number of condominiums in Thailand among foreigners in 2022, the Government Housing Bank’s Real Estate Information Centre (REIC) reported on Thursday.
The ownership of 11,561 condominium units worth 59.26 billion baht were transferred to foreigners last year, the centre said.
Foreign nationals who bought the most number of condominiums last year were:
- Chinese: 5,707 units
- Russians: 813
- US citizens: 542
- Britons: 393
- French: 351
- Myanmar: 349
- Germans: 337
- Australians: 290
- Indians: 236
- Taiwanese: 229
- Others: 2,314
In terms of value, the top five foreign nationals who spent the most in 2022 were:
- Chinese: 29.03 billion baht
- Russians: 2.68 billion baht
- Myanmar: 2.55 billion baht
- US citizens: 2.38 billion baht
- French: 1.91 billion baht
The REIC said that Chinese citizens had bought 49.4% of condominium units sold to foreigners last year. However, this number dropped from the previous year’s 55%, which it attributed to China’s zero-Covid policy that restricted overseas travel of Chinese nationals.
China lifted travel restrictions on its people in January this year, a boon to Thailand’s real estate and tourism sectors.