Real Estate Information Center, Government Housing Bank reported an overview of condominium ownership transfers by foreigners in 2019, revealing that throughout the past year, there were 13,232 units transferred nationwide, accounting for 10.5% of the total units transferred. The total value was 52,070 million baht, representing 16.4%, with a total area of 521,725 square meters, accounting for 12.0% (see accompanying chart).

Compared to 2018, the number of units transferred by foreigners decreased by 9.9%, the value dropped by 12.0%, and the area decreased by 13.4%. The average value per unit for condominiums transferred by foreigners in 2019 was 3.94 million baht, with an average area of 39.4 square meters.

 

Chart Showing the Proportion of Condominium Ownership Transfers by Foreigners in 2018 - 2019

Source of preliminary data: Real Estate Information Center

 

Provinces with the Highest Condominium Ownership Transfers

            The provinces where foreigners purchased the most condominiums are primarily in Bangkok and its surrounding areas, as well as in famous tourist provinces. Notably, Chinese nationals accounted for the highest proportion of condominium ownership transfers nationwide in 2019, with a share of 55.4% of the total value of transfers to foreigners across the country, amounting to 52,070 million baht. Following them were Russians at 4.6%, the UK at 3.1%, Japan at 3.0%, and France at 2%.

In 2019, the Top 5 Provinces with the Highest Number of Units Transferred by Foreigners are as follows:

1) Bangkok - 5,481 units, accounting for 41.4% of the total units. The next provinces are:

2) Chonburi - 4,740 units (35.8%)

3) Samut Prakan - 1,104 units (8.3%)

4) Chiang Mai - 729 units (5.5%)

5) Phuket - 519 units (3.9%)

            Compared to 2018, the provinces with a decrease in the number of units transferred by foreigners include Bangkok, Chonburi, and Chiang Mai, with decreases of 22.6%, 2.1%, and 37.3%, respectively. In contrast, Samut Prakan and Phuket saw an increase of 83.4% and 7.5%, respectively.

 

Provinces with the Highest Value of Condominium Ownership Transfers by Foreigners are:

Bangkok - valued at 31,628 million baht, accounting for 60.7% of the total value.

Chonburi - valued at 12,202 million baht (23.4%)

Phuket - valued at 2,596 million baht (5.0%)

Samut Prakan - valued at 2,489 million baht (4.8%)

Chiang Mai - valued at 1,683 million baht (3.2%)

Compared to 2018, the provinces with a decrease in the value of ownership transfers include Bangkok, Chonburi, and Chiang Mai, with decreases of 19.4%, 0.9%, and 43.9%, respectively. Meanwhile, Phuket and Samut Prakan saw increases of 8.2% and 113.5%, respectively.

Provinces with the Highest Area of Condominium Ownership Transfers by Foreigners are:

Bangkok - with an area of 224,280 square meters, accounting for 43.0% of the total area.

Chonburi - with an area of 178,515 square meters (34.2%)

Chiang Mai - with an area of 33,117 square meters (6.3%)

Samut Prakan - with an area of 32,900 square meters (6.3%)

Phuket - with an area of 27,287 square meters (5.2%)

Compared to 2018, the provinces with a decrease in the area of ownership transfers by foreigners include Bangkok, Chonburi, and Chiang Mai, with decreases of 25.6%, 3.5%, and 35.5%, respectively. In contrast, Samut Prakan and Phuket saw increases of 78.0% and 7.4%, respectively.

 

Considering the Provinces with the Highest Value of Condominium Ownership Transfers to Foreigners in 2019, it is found that:

Bangkok had the highest value of ownership transfers in Huai Khwang, Wattana, Klong Toey, Phra Khanong, and Klong San, respectively.

Chonburi had the highest value of ownership transfers in Bang Lamung, Sattahip, and Si Racha, respectively, with over 88.5% in Bang Lamung.

Phuket had the highest value of ownership transfers in Thalang, Kathu, and Phuket Town, respectively.

Samut Prakan had the highest value of ownership transfers primarily in Samut Prakan City, accounting for 96.6%.

Chiang Mai had the highest value of ownership transfers primarily in Chiang Mai City, accounting for 92.0%, followed by Mae Rim at 5.0%.

 

          In 2019, Chinese nationals were the largest group transferring condominium ownership in terms of number of units, value, and area, with 7,506 units transferred, accounting for 56.7% of all units transferred by foreigners, valued at 28,860 million baht (55.4%), and covering an area of 254,546 square meters (48.8%).

The nationalities with the next highest ownership transfers were Russia, the United Kingdom, France, and Japan in that order.

 

Average Area per Unit

Among the top five nationalities transferring condominium ownership in 2019, the United Kingdom had the largest average area per unit at 51.1 square meters, while China had the smallest average area per unit at 33.9 square meters.

 

Average Value per Unit

Japan had the highest average value per unit at 4.2 million baht, while Russia had the lowest average value per unit at 3.0 million baht.

 

Value of Condominium Ownership Transfers by Province

When considering the nationalities with the highest value of condominium ownership transfers by province in 2019, it was found that:

  • Bangkok had the highest transfers by Chinese nationals at 19,784 million baht, accounting for 62.6% of the total value in the province, though this value decreased by 5.0% from 2018. Following them were Malaysia, Singapore, Japan, and Taiwan, which together accounted for only 11.6% of the total transfers, with only Malaysia seeing an increase in transfer value from 2018, while the other three saw decreases.
  • Chonburi also saw Chinese nationals leading with a transfer value of 5,255 million baht (43.1%), an increase of 5.0% from 2018. Following were Russia, the United Kingdom, France, and Japan, which together accounted for 25.2%, with only Russia seeing a decrease in transfer value from 2018.
  • Phuket saw Russia leading with a transfer value of 831 million baht (32.0%), an increase of 27.7% from 2018. Following were China, the United Kingdom, France, and the United States, which together accounted for 30.3%, with only the United States seeing an increase in transfer value from 2018.
  • Samut Prakan had the highest transfers by Chinese nationals at 1,980 million baht (79.6%), an increase of 4% from 2018. Following were Hong Kong, Japan, Taiwan, and the United Kingdom, which together accounted for only 14.0%, with all four seeing increases in transfer value from 2018.
  • Chiang Mai had the highest transfers by Chinese nationals at 1,111 million baht (66.0%), a decrease of 46.4% from 2018. Following were South Korea, the United Kingdom, France, and the United States, which together accounted for 17.9%, with only France seeing an increase in transfer value from 2018.

          In 2019, the number of condominium units transferred to foreigners was highest in the price range of 2.01 – 3.00 million baht, with 3,657 units, accounting for 27.6% of the total 13,232 units transferred, an increase of 20.8% from 2018. This was the only price range that saw an increase, while all other price ranges saw decreases. The next highest price range was 3.01 – 5.00 million baht, with 3,162 units, accounting for 23.9%. The price range with the fewest units transferred was 7.51 – 10.00 million baht, with 499 units, accounting for 3.8%.

          The value of condominium ownership transfers to foreigners in 2019 was highest in the price range of over 10 million baht, valued at 13,424 million baht, accounting for 25.8% of the total value of 52,070 million baht. The next highest was in the price range of 3.01 – 5.00 million baht, valued at 12,128 million baht, accounting for 23.3%. The price range with the lowest value was up to 1 million baht, valued at 701 million baht, accounting for 1.3%. All price ranges saw a decrease compared to 2018, except for the 2.01 – 3.00 million baht range, which saw an increase of 20.2%.

 

Chart Showing Condominium Ownership Transfers by Foreigners in 2018 – 2019 by Unit Count and Price Range

 

Disclaimer

The statistical data and any writings in this report are sourced from reliable sources or processed from trustworthy data. The Real Estate Information Center has verified the information to a certain extent, but it cannot guarantee the accuracy or truthfulness and cannot be held responsible for any damages arising from the use of this information. Users should exercise discretion and verify as appropriate.

Data from: Real Estate Information Center, Government Housing Bank