Condos hoping to rely on foreign purchasing power to support the market! ‘China’ is the top purchaser, ‘Russia-Myanmar-India’ is strong. Foreigners prefer to buy luxury condos in the middle of the city. Chinese people prefer houses in the eastern Bangkok zone. Myanmar people buy condos in the price range from 5-100 million.

Real estate market data for the first quarter of the year 2566 of the Real Estate Information Center (REIC) stated that the transfer of condominium ownership by foreigners amounted to 3,775 units, an increase of 79.2%, representing a value of 17,128 million baht, an increase of 67.6% compared to the same period last year. China was the champion of ownership transfer with the highest number of 1,747 units, representing 46% of the total number of foreign ownership transfer units, valued at 8,191 million baht or 48% of the total foreign ownership transfer value.

But when comparing each unit and the condo ownership transfer value, it was found that The proportion of Chinese people buying condos has decreased as follows:

Year 2022, 5,707 units, representing 49%, valued at 29,038 million baht, representing 49% of the total transfer of foreign condo ownership.

Year 2021, 4,867 units, representing 59%, valued at 22,874 million baht, representing 58% of the total transfer of foreign condo ownership.

Year 2020, 5,257 units, representing 63%, valued at 22,889 million baht, representing 61% of the total transfer of foreign condo ownership.

In addition, it was found that 3 countries, Russia, India and Myanmar, have significantly increased the proportion of Thai condo purchases since 2020. In terms of ownership transfer value in the first quarter of 2023, Russia came in second with 8%. Or equivalent to 1,364 million baht, moving from 2020 with a 3% proportion, worth 1,141 million baht, average purchase price 3.5 million baht / unit

while Myanmar There is a value transfer, ranked 7th, worth 497 million baht, but the highest condo purchase price per unit, 6.5 million baht / unit, while India is ranked 10th, worth 292 million baht.

When delving into each province The areas with the most foreigners buying condos are scattered in Chonburi, Bangkok, Chiang Mai, Pathum Thani, Prachuap Khiri Khan, Rayong, most of the tourist towns. reflects that the real estate market Wheeled with the expansion of tourism If the government can attract foreigners to stay in Thailand for a long time It will be a good opportunity for the real estate market. especially the condo During the contraction of domestic purchasing power!

In line with Artitaya Kasemlawan, head of the housing project sales department, CBRE Thailand, stated that in 2022, 11.2 million foreign tourists visited Thailand, 64% from Asia, 23% Europe, 5% North America, followed by the Middle East and Oceania. Nieto or a group of countries and islands in the Pacific Ocean and Africa.

“Signs of the return of foreign tourists have positive implications and are consistent with foreign demand for accommodation in Thailand.”

Asia likes condos. European popular holiday homes

Based on the analysis of projects at CBRE as a marketing management agency and most of the sales are in the luxury market. It was found that 89% of buyers interested in residential projects from 2022 to the beginning of 2023 are Thais, 11% are foreigners. Most foreign customers looking for condos and houses come from Asia, namely China, Hong Kong, Taiwan, Myanmar, Singapore. and Japan. Most of the customers who want to buy a villa come from Europe, including Russia, England, France and Germany.

Comparing CBRE's residential project sales in 2022 to 2021, it was found that foreign customers bought a 383% increase in condos and a 233% increase in house purchases. already in Thailand CBRE has also found that foreign customers have returned to buying holiday villas after a previous hiatus.

Foreigners buy luxury condos in the heart of the city.

When delving into the behavior of foreign buyers It was found that the group had relatively high purchasing power. Most of them have a credit limit to buy a condo at the price level of 15-30 million baht. They want a condo in the heart of the city. Especially in the business areas of Silom, Sathorn, Lumpini, Sukhumvit, Pathum Wan and along the Chao Phraya River. which 87% of this group of customers buy for their own living

for home project Most foreign customers have a purchase budget of 51-80 million baht, especially in eastern Bangkok, the city center and the eastern outskirts. by buying for own living, 85% for villas Popular to buy at a price of 15-30 million baht. Interested in Phuket and Hua Hin. Most people buy for their own living, 71%.

Chinese popular house in the eastern Bangkok zone

According to CBRE, which focuses on the luxury market, “Chinese” remain the most sought-after foreigners in Thailand. Most of them want to buy luxury condos with 1-2 bedrooms in the price range of 15-30 million baht on Silom and Sathorn locations and mainly buy for living by themselves. house project Chinese people want to buy a 4-bedroom house in eastern Bangkok with a budget ranging from 30 to over 100 million baht.

Myanmar popular with luxury condos 5-100 million

Another interesting foreign market is Myanmar buyers. Over the past year, many people have entered into project sales contracts with CBRE at prices ranging from 5 million baht to more than 100 million baht. They are Myanmar residents living in Myanmar, Singapore and Thailand. They buy for their own living. Up to 91% buy luxury 2-bedroom condos priced at 15-30 million baht and look for condos in Lumpini and Sukhumvit locations. For a house project, want a 4-bedroom house in Bangkok. East and city center

Tourism encourages foreigners to buy Thai real estate

Prakaiphet Meechoosarn, Head of Phuket Real Estate Trading, CBRE Thailand, said that the Phuket villa market continues to attract customers such as Russia, China, Italy, England, Germany, Australia, the United States, India and Ireland for their own residence. and rent

Tourism encourages foreigners to buy Thai real estate

Prakaiphet Meechoosarn, Head of Phuket Real Estate Trading, CBRE Thailand, said that the Phuket villa market continues to attract customers such as Russia, China, Italy, England, Germany, Australia, the United States, India and Ireland for their own residence. and rent

“I believe that the tourism market and the long-stay market in 2023 will become even more active in the 2nd and 4th quarters, which will continue to positively affect the demand for second homes and for business purposes. invest"

Demand for foreign housing is expected to cover a wide range of market segments. and spread to locations in Bangkok and provinces that are leading vacation destinations Including covering the rental market as well

Source:https://www.bangkokbiznews.com/property/1068952

Date 18/05/2023