Top 10 nationalities buying apartments in Thailand.

The ThailandReal Estate Information Center (REIC) has revealed a list of the top 10 nationalities purchasing apartments in Thailand during the first six months of 2022, with Chinese and Russian investors taking the top spots.

In Thailand, foreigners are allowed to own 49% of the apartments in any residential complex. The remaining 51% must be owned by Thais. The head of the State Housing Bank and acting director of the Real Estate Information Center, Vichai Viraphan, stated that more and more foreigners have been purchasing apartments in Thailand in recent years. In the first half of 2022, 4,433 apartments were re-registered under foreign ownership in Thailand.

Foreign buyers who purchased the most apartments in Thailand this year are represented by the following nationalities:

• China(25.3% or 2,072 units)
• Russia(3.2% or 263 units)
• U.S.2.8% or 228 units
• United Kingdom(2% or 167 units)
• Germany(1.2% or 160 units)
• France(1.8% or 151 units)
• India(1.6% or 130 units)
• Taiwan1.2% or 95 units
• Australia(1.1% or 89 units)
• Canada0.9% or 72 units

Other nationalities acquired 1006 apartments (13.1%).

Residents of China are purchasing significantly more apartments in Thailand than representatives from other countries, accounting for over a quarter of all apartments sold to foreigners in the first six months of the year.

4,433 apartments listed in the list were sold for a total of 22,331 million baht, which represents an increase of 9.1% compared to the sales of apartments to foreigners during the same period in 2021, which amounted to 20,472 million baht.

The Thai cabinet recently made a decision to allow wealthy foreigners from four target groups to purchase real estate in Thailand and/or up to 1 rai of land. The measure will take effect after publication in the Royal Gazette. While the Pheu Thai Party accused the government of "selling" the country through land ownership laws for foreigners, strict conditions and high investments may deter foreigners considering buying land in the kingdom. Fortunately, the same rules and conditions do not apply to condominiums, which can be freely and easily acquired by foreigners, provided that 51% of the units in the building are owned by Thais.

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