Foreign Condo Buyers in Thailand 2024–2025: Myanmar and Taiwan Surge, China and Russia Decline

Source: Real Estate Information Center (REIC) Thailand · Updated: June 2026

Thailand's foreign condominium market continued to evolve in 2024, with Myanmar and Taiwan emerging as the strongest-growing buyer nationalities while China and Russia recorded significant declines. This data from the Real Estate Information Center (REIC) reflects the geopolitical and economic shifts reshaping Bangkok's international property market.

2024 Foreign Condo Market Overview

Total foreign condo transfers
14,573 units
+0.9% YoY
Total transaction value
THB 68.18 billion
-6.8% YoY
Average price per unit
THB 4.7 million
Down from THB 5.1M in 2023

Volume held up but average unit value declined — reflecting a shift in buyer mix toward lower price points as higher-spending Chinese buyers reduced activity.

Top Foreign Buyer Nationalities — 2024 Rankings

1
China
↓ Declining
Economic slowdown, capital restrictions
2
Myanmar
↑ Surging
Capital flight, political instability at home
3
Taiwan
↑ Rising strongly
Safe-haven investment, geopolitical concerns
4
Russia
↓ Declining
Sanctions, FX constraints, market exit
5
India
↑ Growing
Rising HNW wealth, Bangkok as regional hub
6
Singapore
→ Stable
Regional diversification

China's Decline

China has long been Thailand's largest source of foreign condo buyers, but 2024 saw continued retreat. Factors include: China's own property market stress, stricter capital outflow controls, reduced outbound travel/investment confidence, and weakening yuan purchasing power. Chinese buyers remain the largest single nationality but their share and average spend declined year-on-year.

Myanmar and Taiwan Surge

Myanmar: Political instability and conflict since 2021 have driven sustained capital flight from Myanmar's wealthiest households. Bangkok — close geographically, culturally familiar, and with a large existing Myanmar community — is the primary destination. Myanmar buyers tend to purchase mid-range units (THB 3–7M) for personal use or as a stable store of wealth.

Taiwan: Taiwanese buyers are motivated by safe-haven diversification amid cross-strait geopolitical concerns. Thailand offers accessible freehold condominium ownership, no foreign quota concerns in most buildings they target, and an existing Taiwanese business community in Bangkok. Average Taiwanese purchase price is above the market average, indicating quality-focused buyers.

Russia's Decline

Russian buyers, who surged into Bangkok's market in 2022–2023 as an alternative to sanctioned markets, have pulled back significantly. Ongoing sanctions, banking restrictions on international transfers, and FX volatility for the ruble have all constrained Russian purchasing power in Thailand.

What This Means for Bangkok Property in 2025–2026

The buyer mix diversification is broadly positive for market stability — dependency on a single nationality (China) is reducing. Myanmar and Taiwanese buyers provide a more consistent flow of organic, end-user-driven demand. Indian and Southeast Asian buyers are a growing segment likely to fill further gap as China's share stabilises at a lower level.

For buyers and investors: foreign demand for Bangkok condos above THB 5M remains solid despite the headline volume slowdown. Prime districts (Asoke, Phrom Phong, Thonglor, Chidlom) continue to see strong foreign interest — contact Amazing Properties for current inventory and foreign quota availability.

Data source: Real Estate Information Center (REIC) Thailand, 2024 annual report. Analysis by Amazing Properties, updated June 2026.

Foreign Condo Buyers in Thailand 2024: Myanmar and Taiwan Surge, China and Russia Decline