Wichai Taweecha, Acting Director of the Real Estate Information Center of the Government Housing Bank in Thailand, revealed that as of 2023, there has been an increase in the proportion of foreign buyers purchasing resale properties in Thailand, indicating significant changes in trends.

Specifically, the proportion of first-hand and resale properties purchased by foreign buyers has shifted from 69:31 in the same period last year to 60:40 this year.

There are some noticeable characteristics behind this trend. Firstly, foreign buyers tend to prefer purchasing resale properties in the city center or business districts, covering popular areas like Sukhumvit, Sathorn, Phrom Phong, and Sathu Pradit.

Resale properties in these areas are relatively more affordable compared to newly built ones, making them the preferred choice for foreign investors, with Chinese buyers dominating this market.

Additionally, the Real Estate Information Center in Thailand pointed out that, due to Thailand opening up the condominium market to foreign buyers, condominiums and apartments continue to be favored by foreign buyers, especially those from China.

In terms of buying intentions, condominiums priced below 3 million Thai Baht are the most popular among foreign buyers, accounting for 44.3% of the total sales, making it the preferred price range for foreign buyers since 2018.

In terms of size, foreign buyers prefer purchasing condominiums with a built-up area not exceeding 30 square meters and between 31-60 square meters, accounting for a high percentage of 82.8%.

Looking ahead, it is expected that by 2024, with the continued expansion of the Thai tourism market, the proportion of foreign buyers in real estate is likely to further rise. This trend will help fill the gap in Thailand's domestic purchasing power that has not fully recovered, bringing new expansion momentum to the real estate economy.