Chinese nationals, top the list of non-Thai buyers of condominium units in Thailand, having purchased 2,872 units, worth an estimated 13.2 billion baht, during the first six months of this year and account for 39.5% of all foreign buyers, said Wichai Wiratkaphan, an inspector of the Government Housing Bank.
Ranking second, at 8.8%, are Myanmar nationals, who scooped up 638 units, worth about 3.2 billion baht, followed by Russians (7.8%), buying 567 units worth about 1.8 billion baht, Taiwanese (4.5%) with 326 units worth about 1.59 billion baht and Americans (4%) buying 292 units, worth about 1.58 billion baht.
Wichai, also acting director of the Real Estate Information Centre, the average size of the units purchased by foreigners is 44.7m2, costing an average of about 4.5 million baht per unit.
Indian nationals, however, tend to prefer larger units, averaging 71.3m2, at an average price of about six million baht per unit.
The top five locations for foreign buyers are Bangkok, Phuket, Chiang Mai and Samut Prakan. 2,792 units in Chon Buri were sold to foreign buyers, accounting for 38.4% of the units sold, compared to 2,651 units, or 36.4%, in Bangkok.
According to the research centre, purchases by foreign buyers have stimulated the domestic real estate market, which would otherwise have been weaker due to the lower purchasing power of Thai people.
The centre said that the government is considering increasing foreign ownership limits for condominium developments to 75% and extending the maximum lease period for real estate for foreigners to 99 years.
