Thai condo, fragrant meat, 4 years, foreigners carry money to buy 200 billion ‘China’, Cambodia, Burma, Laos, no less.
on 23 September Wichai Wiratakaphan Mr Government Housing Bank Inspector And the Acting Director of the Real Estate Information Center (REIC) revealed that from allowing foreigners the right to own condominium units in proportion to 49 percent of the condominium space. over the years causing foreigners to continuously buy condominiums in Thailand The real estate information center has collected information on foreign ownership from 2018-2022 (January-June), it was found that 47,288 units of foreign ownership were transferred, worth 207,660 million baht, or 9% of the total number of units and 15% of the total value
“Compared to the general Of these, it was found that Chinese nationals This is the group with the largest purchases of 27,738 units, worth 116,833 million baht, or almost 60% of foreigners who have buy a condominium in Thailand in the past four years, but the purchase of Chinese nationals has continuously decreased since 2019,” said Mr. He squealed.
Mr Wichai said that for the nations that come to buy apartments in the top five groups, such as Russia, the United Kingdom, France, the United States, there is a share of the number and value of only 2-3% per nationality of all foreign ownership transfers.
In addition, it was found that 9 countries in ASEAN were also purchased: Singapore 960 units worth 5,410 million baht, Malaysia 617 units worth 3,278 million baht, Cambodia 162 units worth 2,394 million baht, Myanmar 214 units, worth 1,338 million baht, Indonesia 69 units priced, 638 million baht, Laos 58 units, worth 423 million baht, Vietnam 38 units, worth 178 million baht.
“If the purchasing power of foreigners is still important to absorb the supply of condominiums now and in the future. The operator may have to find a new target group to expand the foreign buyer market. To replace Chinese buyers who are still facing the zero-covid policy and the country’s real estate decline,” said Mr Wichai.
Mr Wichai said it was found that the transfer of ownership of condominium buyers from certain nations in 2021 has seen a clear increase in the number of units, such as the United States, up 51.63%, Germany up 11.43%, Singapore up 10.74%, Australia up 27.10 % , India up 19.23% Malaysia increased 35%, Canada increased 56.06% and many European countries, etc.
which is a group that has the potential to buy houses and to promote the policy of promoting foreigners to stay for a long time and providing long term visas (LTR) to foreign nationals as supported by government policy.
