Foreigners flocked to buy condos in the first quarter of 2023 on an upward trend

Bangkok, June 21-foreigners flock to buy condos in the first quarter of 2023, growing by 79.2 percent, keeping an eye on Chonburi Province, the highest ownership transfer unit in 5 years.

Mr. Wichai Wiratkapan, Inspector of the Government Housing Bank And Acting Director of the Real Estate Information Center revealed that the transfer of residential ownership of foreigners in the first quarter of 2023 that the number of transferred units grew by 79.2 percent, the value of transfers grew by 67.6 percent compared to the same period last year. As a result, the country has been fully opened since the second half of 2022, keeping an eye on the Chonburi area. Moving the proportion of transfers of foreign apartments to the first place with a proportion of 42.4 percent, while Bangkok moved down to the second place with a proportion of 37.7 percent after holding the championship for a long time from 2018-2022. Foreigners increased the proportion to 15.9 percent of the number of units. and accounted for 24.3 percent of the value, still clinging to At the price level of no more than 3 million baht, Myanmar people buy the highest average price per unit of 6.5 million baht, while "India" buys the largest average room size of 77.7 square meters.

From the image processing of all condominium ownership transfers to foreigners we can see that The volume in terms of number of units, value and area has continued to recover from the previous year. But still lower than before the outbreak of COVID-19 It is noted that Higher ownership transfer numbers this quarter Caused by various countries opening for their citizens to travel between each other, especially China, which is an important positive factor helping to increase the number of units value and area With the sale and transfer of ownership of condominium units to foreigners, there has been a continuous improvement. And there are still some foreigners who buy more ready-built condominiums and second-hand condominiums. As a result, the proportion of foreign condominium ownership transfer units increased to 15.9 percent from only 10.6 percent in 2022, and the proportion of foreign condominium ownership transfer value increased to 24.3 percent from 19.5 percent in 2022.

For second-hand condominiums, the proportion has been expanded in terms of number of units, value and area in the transfer of ownership of condominium units to foreigners. The ratio of new condominium units to second-hand units In terms of number of units, it was 59:41 percent, in terms of value, it was 70:30 percent, and in terms of area, it was 53:47 percent. Foreigners may need second-hand condominiums in certain locations, such as the inner-city areas or areas near the city's central business district. Especially Chinese, Russian, US, UK and German. Condominiums priced no more than 3 million baht are still popular with foreigners.-Thai News Agency

Source: Thai News Agency