Half of all foreign-owned condos in Thailand are Chinese-owned

Construction News
Thailand’s rental condominium market is growing in the price range of 10,000-15,000 baht ($320-480) per month while condos in the range of 25,000-150,000 baht per month are seeing a significant drop in customers. PIXABAY

Half of all foreign-owned condos in Thailand are Chinese-owned

Thailand business media decided to take a look at where foreigners are likely to come from for the much awaited plan to entice well heeled professionals from four groups to buy property in the kingdom.

The plan is to get up to a million foreigners in spending a trillion baht. They will be able to work, pay less tax and not need a permit, so long as they invest in bonds or property and have qualifications and work for substantial enterprises.

They’ll get a ten year visa thrown in. Those plans are in the discussion phase.

With this in mind the media published a list of the top ten nations for condo ownership over the last three years.

Far out in front at the top of the list was the Chinese who represent 51.8 percent of all foreign condo owners with 729,972 properties.

In second were Russians with 76,624 (5.4%), French with 57,541 (4.1%) UK (though they used the flag of England) with 56,337 (4%).

The USA rounded out the top five with 41,767 condominiums.

The rest of the top ten with ownership in the 30,000 range were Germany, Japan, India, Taiwan and Australia. All these nations held between 2 and 3% of foreign owned condos.

source: Thaivisa