Foreigners bought fewer units in 2021, but spent more, survey finds

A recent survey by the Government Housing Bank’s Real-Estate Information Centre (REIC) found that though fewer properties in Thailand were bought by foreigners last year, the value of the units they bought was significantly higher.

According to the survey, a total of 8,198 units were sold to foreigners in 2021, marking a 1.1 per cent drop from 8,287 units sold the year earlier. However, the value of the units bought by foreigners rose 5 per cent year on year to 39.61 billion baht and the size of the units also rose 4.1 per cent to a total of 355,315 square metres.

The survey also found that foreign buyers mostly bought units with a price tag of 3 million baht or less (4,046 units), followed by 1,858 in the 3 million to 5 million baht price range, 1,219 units in the 5 million to 7 million baht range, and 510 units in 7 million to 10 million range. Foreign buyers also purchased 565 units worth more than 10 million baht in 2021.

Chinese nationals were the biggest buyers, purchasing 4,867 units or 59.4 per cent of all property sold to foreigners last year. Russians came in second with 306 units or 3.7 per cent, followed by Britons at 280 units and Americans at 279 units. German and French nationals tied for fifth place with 234 units (2.9 per cent).

Chinese buyers also spent the most or 22.87 billion baht, while Americans came in second at 1.29 billion baht, followed by Britons at 1.25 billion baht.

According to the survey, the top five provinces that attracted the most foreign property buyers in 2021 were: Bangkok (4,213 units), Chonburi (2,398 units), Phuket (344 units), Samut Prakan (337 units) and Chiang Mai (313 units).

Credit: Nationthailand

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