Russia, India and Australia grow against the market trend
On the other hand, several nationalities continued to record growth in ownership transfers despite the slower overall picture.
Russia remained a standout market, with transfers of 383 units, up 33%, and a total transfer value of THB1.665 billion, up 68.7%.
India recorded the highest growth rate among the top 10, with 63 transferred units, up 40.0%, and a total value of THB353 million, up 23.9%. Australia recorded 83 transfers, up 36.1%, while Germany and the United Kingdom saw growth of 17.4% and 13.0%, respectively.
The expansion of these buyer groups reflects that, although the overall market faces pressure from the global economy, there are still groups of buyers from some countries that see opportunities to invest and live in Thailand.
Indian buyers stand out for larger, highest-priced units
One interesting point from REIC’s data is the behaviour of Indian buyers, which clearly differs from other groups.
Indian buyers had the highest average transfer value per unit in the market, at about THB5.6 million per unit, above the overall foreign-buyer average of THB4.2 million per unit.
They also had the highest average area per unit, at 67.8 square metres, compared with the overall foreign market average of 43.7 square metres per unit.
The figures, therefore, reflect that Indian buyers are placing greater emphasis on larger, higher-value units that better meet real residential needs.
In structural terms, the Thai condominium market is in a significant transition.
In the past, movements in the foreign market were almost tied to Chinese purchasing power, but the latest data indicate that the importance of the Chinese market is beginning to decline, while demand from Russia, India, Australia and some European countries is starting to play a greater role.
Although the number of buyers from these countries is still not as large as from China, their continued growth during a period of overall market slowdown is a sign that Thailand’s foreign customer base is becoming more diversified.
This may help reduce the long-term risk of relying too heavily on any single market.
REIC said the direction of the foreign market for the rest of 2026 still requires close monitoring of global economic factors, particularly China’s economic situation, volatility in global financial markets and the purchasing power of foreign investors.
These will be key variables for the recovery of Thailand’s condominium market in the period ahead.
