The condominium market began to recover! After finding signs of foreign transfers in the first quarter, it exceeded 17,000 million baht, the highest in five years! An increase of 67% from the same period last year. Myanmar buys condominiums per unit with an average of 6.5 million baht.

Wichai Wiratkaphan, Inspector of the Government Housing Bank And Acting Director of the Real Estate Information Center said that the overview of the situation of the ownership transfer of housing for foreigners in the first quarter of 2023 from the processing of condo ownership transfers to foreigners shows that both in terms of the number of units, value and area. There is a steady recovery from the previous year. but still lower than before the outbreak of COVID-19 The higher number of ownership transfers this quarter was the result of every Countries around the world are open to people to travel between each other. especially China

“Opening the country and conducting economic activities in various fields International countries around the world began to return to normal. The tourism industry in Thailand continues to recover. This is an important positive factor that helps increase the number of units, value and area in which condominium units are sold and transferred to foreigners continuously improving in Europe, the United States, Australia, Russia and Asia.”

The transfer of condo ownership by foreigners nationwide in the first quarter of 2023 found that both the number of units and the value greatly increased There were 3,775 units of condo transfers for foreigners across the country, an increase of 79.2% from the same period last year. This is a continuous increase since the second quarter of 2022.

As for the transfer value, it was 17,128 million baht, an increase of 67.6% from the same period last year. It is a continuous high value from the third quarter of 2022, while the area for transferring condos to foreigners across the country amounted to 168,664 square meters, an increase of 73.8% from the same period last year.

China holds the title of the highest number of condo transfers

As for the nationality of the transferee, the Chinese still have the most condo transfers, 1,747 units, accounting for 46.3% of all units, followed by Russia 387 units 10.3% US 156 units 4.1% UK 146 units 3.9% Germany 131 units 3.5%

As for the value of condo ownership transfers in the first 3 months of 2023, there is a transfer to the Chinese with the highest value of 8,191 million baht, accounting for 47.8% of the total value, followed by Russia 1,364 million baht, 8% proportion, the UK 703 million baht, 4.1% US. 653 million baht, 3.8% and Germany 611 million baht, 3.6%

Myanmar transfer per unit highest average 6.5 million

During the first quarter of 2023, condos transferred by foreigners have an average area of 44.7 square meters/unit, an average value of 4.5 million baht/unit or 101,553 baht per square meter, while "Myanmar" is a nationality with The highest transfer value per unit, an average of 6.5 million baht per unit, and India is the nationality that transfers the largest unit, an average of 77.7 square meters.

by Chinese, the nationality with the highest proportion of transfers with an average transfer value of 4.7 million baht/unit and the average unit area is 38.8 square meters/unit

Chonburi, the highest ownership transfer unit in 5 years

The top 5 provinces with the highest number of foreigner condo transfer units are Chonburi, Bangkok, Chiang Mai, Phuket and Prachuap Khiri Khan. Most of them are in the first 2 provinces, namely Chonburi, 1,601 units, representing 42.4% and Bangkok, 1,423 units, 37.7%. Both provinces have a total number of units up to 80.1% of the country.

And when considering back in 2018, Chonburi had more units of ownership transfer for foreigners than Bangkok. For the first time in 5 years

While the provinces with the highest number of foreigner condo transfers are Bangkok, Chonburi, Phuket, Chiang Mai and Prachuap Khiri Khan. Most of them are in the first 2 provinces, namely Bangkok worth 9,976 million baht, representing 58.2% and Chonburi worth 4,557 million baht, 26.6% of the proportion. Both provinces have a combined value of 84.8% of the country.

Considering back to 2018, it was found that Bangkok and Chonburi were still the provinces with the highest proportion of the value of condominium transfers to foreigners as well. Followed by major tourist destinations are Phuket and Chiang Mai.

Foreigners are popular, the price is not more than 3 million.

Regarding the condo price level, it was found that The transfer of ownership of foreigners in Q1/2023 has the highest number of units in the price range of no more than 3 million baht. There are 1,900 units transferred, worth 3,431 million baht, with the highest proportion of units transferred 50.3% but the proportion of the transfer value is only 20%. It was found that condominiums priced no more than 3 million baht are the price level that most foreigners prefer to buy from 2018 to the present.

For condos that are least popular with foreigners, the price range is 7.5 - 10 million baht, with the lowest number. The whole number of units is only 203 units, worth 1,729 million baht, accounting for 5.4% and 10.1% respectively.

Although condominiums with a price of more than 10 million baht or more have 303 units, 8% proportion, but with the highest transfer value of 5,475 million baht, 32% proportion.

Source:https://www.bangkokbiznews.com/property/1074678

Date 22/06/2023