# Foreign buyers of Thai condominiums, 2025 and first half 2026

Source: https://www.thailandpropertyinvestor.com/journal/foreign-buyers-thai-condominiums-h1-2026
Updated: 2026-11-14
Publisher: Thailand Property Investor (Omnia Capital Group)

## The short answer

Foreigners took ownership of 14,899 Thai condominium units worth THB 60.9 billion in 2025, and 6,533 units worth THB 28.3 billion in the first half of 2026. Unit numbers in the first half fell 8.8% year on year while value fell only 1.5%. Chinese buyers remain the largest group but are shrinking. Russian transfer value rose 75.9% to THB 3.6 billion, moving Russia to second place by value.

## Key points

- Foreign buyers took 14,899 condominium units worth THB 60.9 billion in 2025, up 2.2% by units and down 10.7% by value.
- In January to June 2026 foreign transfers fell 8.8% to 6,533 units, while value slipped 1.5% to THB 28.3 billion.
- Chinese buyers were still first in the first half of 2026, but their transfer value fell 27.7% to THB 6.9 billion.
- Russian transfer value rose 75.9% to THB 3.6 billion, with purchases concentrated in Phuket and Chon Buri.
- Foreigners accounted for 11.7% of condominium transfers by number and 21.7% by value in the first half of 2026.

Foreign buyers registered fewer Thai condominiums in the first half of 2026 than a year earlier, but spent almost as much. Land Department records show 6,533 units transferred to foreigners between January and June, down 8.8%. Their value was THB 28.3 billion, down 1.5%. The mix of buyers is changing: Chinese demand is contracting and Russian demand is rising quickly.

## The 2025 baseline

The full-year figures give the most complete picture by nationality. Foreigners took ownership of 14,899 units worth THB 60.9 billion in 2025. Units rose 2.2% and value fell 10.7%. Foreign buyers accounted for 14.7% of all condominium transfers by number and 25.0% by value.

| Nationality | Units | Value (THB million) | Average per unit (THB million) | Units, change on 2024 | Value, change on 2024 |
|---|---|---|---|---|---|
| China | 4,940 | 18,585 | 3.8 | Down 12.9% | Down 30.0% |
| Myanmar | 1,968 | 6,159 | 3.1 | Up 41.8% | Down 12.5% |
| Russia | 1,172 | 4,773 | 4.1 | Up 8.6% | Up 30.3% |
| Taiwan | 1,036 | 4,699 | 4.5 | Up 23.9% | Up 9.3% |
| United States | 537 | 2,810 | 5.2 | Down 11.8% | Down 7.2% |
| France | 657 | 2,604 | 4.0 | Up 26.1% | Up 16.6% |
| United Kingdom | 476 | 2,298 | 4.8 | Up 15.0% | Up 35.2% |
| Germany | 459 | 1,849 | 4.0 | Up 2.9% | Down 5.6% |
| India | 237 | 1,645 | 6.9 | Down 8.8% | Up 7.7% |
| Singapore | 269 | 1,284 | 4.8 | Up 15.5% | Down 3.7% |
| Others | 3,148 | 14,215 | 4.5 | Up 1.0% | Down 4.2% |
| Total | 14,899 | 60,921 | 4.1 | Up 2.2% | Down 10.7% |

Ranked by value. The average foreign purchase in 2025 was a 41.3 sqm unit at THB 4.1 million, about THB 99,000 per sqm. That is a mid-market apartment, well below the prices quoted for prime Bangkok. Chinese buyers were roughly a third of the total by number. Their decline reflects economic weakness in China and limits on liquidity.

## January to June 2026

| Measure | First half 2026 | Change on first half 2025 |
|---|---|---|
| Units transferred to foreigners | 6,533 | Down 8.8% |
| Value | THB 28.3 billion | Down 1.5% |
| Share of all condominium transfers, by number | 11.7% | Lower |
| Share of all condominium transfers, by value | 21.7% | Lower |
| Average value per unit | THB 4.3 million | |
| Average size | 43.9 sqm | |

The second quarter was stronger than the first: 3,292 units, up 1.4% on a year earlier, worth THB 14.8 billion, up 20.2%.

By value, the ten largest groups in the half were China, Russia, Myanmar, the United States, Taiwan, France, the United Kingdom, Germany, Australia and India.

- **China** stayed first by units and by value, but transfer value fell 27.7% to THB 6.9 billion and unit numbers fell 23.8%.
- **Russia** moved to second by value. Transfer value rose 75.9% to THB 3.6 billion and unit numbers rose 50.4%.
- **Myanmar**, second by units in 2025, fell back: value down 16.2% to THB 2.5 billion and units down 34.1%.
- **Australia** entered the ten largest groups by value, with unit numbers up 63.7%.

## What it means for a buyer

**Fewer, larger purchases.** Units fell much faster than value, so the average foreign purchase grew to THB 4.3 million. That points to a shift from small investment units towards larger homes, in [Bangkok](https://www.thailandpropertyinvestor.com/areas/bangkok) and in [Phuket](https://www.thailandpropertyinvestor.com/areas/phuket) alike.

**Geography follows nationality.** Chinese and Myanmar buyers buy mainly in Bangkok. Russian buyers buy mainly in Phuket and in Chon Buri, the province that includes [Pattaya](https://www.thailandpropertyinvestor.com/areas/pattaya). A building whose resale market depends on one nationality carries that nationality's risks: currency, capital controls and politics. Ask who owns the foreign share of a building before you buy into it.

**The quota still binds.** Foreign ownership is capped at 49% of the unit floor area in each registered condominium. In buildings popular with overseas buyers the [foreign quota](https://www.thailandpropertyinvestor.com/glossary/foreign-quota) can fill, which restricts who you can sell to later. See [condominium foreign quota](https://www.thailandpropertyinvestor.com/guides/condominium-foreign-quota).

**Transfers lag sales.** Transfers record completed units being registered. They tell you who bought two or three years ago as much as who is buying now, and they omit leasehold villas entirely.

Our guide to [where to buy in Thailand](https://www.thailandpropertyinvestor.com/guides/where-to-buy-in-thailand) compares the main markets. For price levels, see the reports on the [Bangkok condominium market](https://www.thailandpropertyinvestor.com/journal/bangkok-condominium-market-2026) and the [Phuket property market](https://www.thailandpropertyinvestor.com/journal/phuket-property-market-2026).

## Questions

### Does this data cover villas and off-plan sales?

No. The figures are Land Department registrations of condominium ownership transfers to foreigners. A unit appears when it is completed and registered, which can be years after it was sold off plan. Villas held on leases are not included, so the figures understate foreign activity in Phuket and Koh Samui.

### Which nationality spends the most per unit?

In 2025 it was Indian buyers, at an average of THB 6.9 million and 75.7 sqm per unit. In the first half of 2026 American buyers had the highest average value at THB 6.6 million, while Indian buyers still bought the largest units at 72.1 sqm. Chinese buyers averaged THB 3.8 million.

### Where do foreign buyers register most units?

Bangkok accounted for nearly half of foreign condominium transfers in 2025 and Chon Buri, which includes Pattaya, for more than a quarter. Chinese and Myanmar buyers concentrate in Bangkok. Russian buyers concentrate in Phuket and Chon Buri.

## Sources

- [Real Estate Information Center (REIC), foreign condominium ownership transfers Q4 2025 and full year 2025 (Thai)](https://reic.or.th/Upload/PressRelease260420-3_334_1776792811_99197.pdf)
- [The Nation, Russian condo purchases surge 75.9% while wider foreign market slows, 29 August 2026](https://www.nationthailand.com/business/property/40070406)
- [The Nation, condo transfers to foreigners rise 1.4% in Q2 2026, REIC reports, 11 September 2026](https://www.nationthailand.com/business/property/40070917)
- [Pattaya Mail, who really buys Thai condos, 14 October 2026](https://www.pattayamail.com/business/who-really-buys-thai-condos-568269)
- [The Nation, foreign condo transfers edge up in Thailand with China still leading, 14 April 2026](https://www.nationthailand.com/business/property/40065053)