Thai condominium, fragrant meat, 4 years old, foreigners bring money to buy 200 billion of ‘China’, Cambodia, Burma, Laos, no less.
on September 23 Mr. Wichai Wiratakaphan Government Bank Inspector for Housing And the Acting Director of the Real Estate Information Center (REIC) revealed that by allowing foreigners to have the right to own condominium units in proportion to 49 percent of the condominium space. over the years forcing foreigners to continually buy condominiums in Thailand The real estate information center collected information on foreign ownership from 2018 to 2022 (January-June), found that 47,288 foreign-owned units were transferred, worth 207,660 million baht, which is 9% of the total number of units and 15% of the amount of the value
“Compared to all of these, it was found that Chinese citizens It is the group with the largest number of purchases of 27,738 units, valued at 116,833 million baht, or almost 60% of foreigners who have bought a condominium in Thailand in the last four years, but the purchase of Chinese citizens has been declining continuously since 2019, Mr. Wichai said.
Mr. Wichai said that for nationalities who come to buy apartments in the top five groups, such as Russia, UK, France, USA, there is a proportion of the number and value of only 2-3% per nationality of all transfers of foreign ownership.
In addition, it was found that 9 countries were also purchased in ASEAN: 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 baht, Indonesia 69 units worth 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 trader may need to find a new target group to expand the overseas buyer market. To replace Chinese buyers who still face zero-covid policy and the country’s real estate deterioration, “Wichai said.
said Mr. Wichai It was found that the transfer of ownership of buyers of condominiums of certain nationalities in 2021 saw a sharp increase in the number of units, such as the United States, up 51.63%, Germany up by 51.63%. 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 purchase housing and promote the policy of promoting long-term stay of foreigners and the provision of long-term visas (LTRs) to foreign nationals as supported by government policy.
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