Russian buyers’ condo purchase ranks second in Thailand
Russian buyers were the second-largest group of foreign condo buyers in Thailand in the third quarter, behind Chinese customers.
In the third quarter of 2026, Russians emerged as the second-largest foreign buyers of condominiums in Thailand, purchasing properties valued at THB1.78 billion, a significant 50% increase compared to the previous year, according to the Real Estate Information Center (REIC). This surge in Russian investment, which drove the property markets in Chon Buri and Phuket, outpaced demand from traditional top market China, which saw a steep 36.1% decline in purchases.
The combined value of condo transfers to foreign buyers nationwide dropped by 7.6% to THB14.206 billion in the same period. The total number of foreign-owned condo units transferred nationwide in the quarter declined by 19.7% to 3,085 units. Despite a 12.7% drop in foreign demand for condominiums, the market remained diversified, with other nationalities showing growth.
Indian buyers witnessed a 66.6% rise in transfer values, while U.K., U.S., and German buyers experienced increases of 34.6%, 30.4%, and 2.9% respectively. Notably, Taiwanese buyers' demand decreased by 50.5%.
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