Foreigners’ Purchases of Condominiums in Bangkok Surge 33 Percent

BANGKOK – Foreigners’ purchases of condominiums in Bangkok surge to 33% of the total value! How many foreigners are purchasing condominiums in Bangkok and its surrounding areas? It’s incredible.

Currently, foreigners are buying more condominiums, especially in terms of the proportion of total purchase value. However, in terms of the number of units, it may decrease somewhat due to the economic situation.

Dr. Sopon Pornchokchai, President, Agency for Real Estate Affairs (www.area.co.th), found that in the first half of 2025, foreigners accounted for to purchase of 2,321 condominium units or 20% of all condominium units sold in Bangkok and its vicinity, totalling 13.876 billion baht or 33% of the total condominium value.

The average purchase price was Baht 5.978 million (USD 181,152) per unit. Therefore, it is considered that foreigners contributed one-fifth of the condominium market in terms of number of units, or one-third in terms of value, in Bangkok.

The most popular condominium group for foreigners to buy is the Baht 2.1-3.0 million (USD 63,636-90,909) price range, with foreigners buying 720 units out of the total 2,321 units, or about 31%. Next in line are condominiums priced between Baht 3 and 5 million (USD 90,910-151,515), with another 546 units, or 24%.

Therefore, it can be said that 71% of the condominiums foreigners buy are priced below Baht 5 million (USD 151,515), meaning that foreigners are also competing to buy condominiums from Thais. In Malaysia, foreigners can buy condominiums for no less than Baht 15 million (USD 454,545), while in Indonesia, the price is set at no less than Baht 10 million (USD 303,030).

Foreigners Buying Condominiums in the Bangkok Metropolitan Region, 2019 – 2025

Year          Units                 Value                                     Price/Unit
(Mil Baht)   (Mil USD)                  (Mil Baht)       USD
2019         6,557               30,516             925                     4.654      141,029
2020         1,017                 3,378             102                     3.322      100,653
2021         1,243                 6,057             184                     4.873      147,663
2022         4,203               20,364             617                     4.845      146,822
2023         5,036               31,601             958                     6.275      190,152
2024         5,748               39,640          1,201                     6.896      208,979
2025         5,103               30,527             925                     5.982      181,278

Agency for Real Estate Affairs (www.area.co.th), July 2025

Dr. Sopon expects that foreigners will purchase a total of 5,106 condominium units in 2025, valued at Baht 30.527 billion (USD 925 million). He believes that foreigners will likely buy more units in the second half of 2025, despite negative events such as the July 28th earthquake and the border disputes between Thailand and Cambodia since the first half of 2025.

However, compared to 2024, foreigners purchased 5,748 condominium units, valued at Baht 39.64 billion (USD 1.201 billion). This indicates that sales to foreigners decreased in 2025 compared to 2024.  It is a 12% decrease in terms of units and a 23% decrease in terms of value.

It can be seen that foreigners purchased the highest number of condominium units in 2019, at 6,557 units, and this decreased significantly during the COVID-19 pandemic in 2020-2021. The number of condominium units purchased by foreigners recovered in 2022-2024.

However, in 2019, foreigners purchased 6,557 units, representing only 12% of the total. In terms of purchase value, at Baht 30.516 billion (USD 924.73 million). This represents only 15%. However, in the first half of 2025, foreigners purchased 20% of the total number of units and approximately 33% of the total value of condominium units in Bangkok and its vicinity.

The locations where foreigners like to buy condominiums the most are:

1. The city center area, including Silom, Sathorn, Chidlom, Ploenchit, Pathumwan, Phaya Thai, Phra Nakhon, Pom Prap, etc., where 825 units or 36% of all units purchased were purchased, totalling Baht 8,159 million (USD 247.24 million) or 59% of the total value traded. This is because the selling price of condominiums in the city center is Baht 9.89 million (USD 299,697).

2. Ratchadaphisek – Lat Phrao are, where 725 units or 31% of all units purchased were purchased, with a total value of Baht 3,043 million (USD 92.21 million) or 22% of the total trading value. This is because it may be near the Chinese Embassy, Don Mueang Airport, and has a subway, making travel convenient, etc. The average price is Baht 4.197 million per unit (USD 127,182)

3. In the Nut-Suvarnabhumi area, 245 units or 11% of all units purchased were purchased, totalling Baht 1,095 million (USD 33.18 million) or 8% of the total trading value. This is because it may be close to the city center, convenient to travel to Suvarnabhumi Airport, etc. The average price is Baht 4.470 million (USD 135,455) per unit.

4. Bangna – Theparak area, where 232 units or 10% of the total units purchased were purchased, with a total value of Baht 622 million (USD 18.85 million) or 5% of the total trading value. This may be because it is near Suvarnabhumi Airport, for example. The average price is Baht 2.679 million (USD 81,182) per unit.

Currently, foreigners are allowed to purchase up to 49% of condominium units (except in the Eastern Economic Corridor, which allows foreigners to purchase up to 100%).

However, it appears that there are hardly any projects where foreigners are interested in purchasing more than 49%. Allowing foreigners to purchase condominium units should include some tax measures so that the government can get tax money from foreigners to develop Thailand.