New data suggests that residential property acquisition by buyers from China and other parts of Asia will rebound as the pandemic recedes.
According to Juwai IQI, a pan-Asian real estate sales and media group based in Kuala Lumpur, vaccinations and international travel are the two key factors that will assist in the rebound.
Foreign condominium purchases in Thailand dropped 34% in 2020, compared with 2019, according to data from the Real Estate Information Center (REIC). The nationalities with the biggest declines were Japan, with 58.6% fewer transactions, and Russia (down 51.4%). Chinese buyer transactions declined only 31.1%.
Bangkok and Chon Buri account for the largest share of foreign buyer transactions, at 80% of all foreign transfers nationwide. The majority of foreign buyer transactions were for properties that cost less than 5 million baht. The median condo price in Bangkok, the country’s most expensive market, is approximately 6 million baht.
