Who buys property in Thailand: China, Myanmar and Russia take 54% of foreign freehold

More than half of the condominium units foreigners buy freehold in Thailand — 54% — go to buyers from three countries: China, Myanmar and Russia. Taiwan, European countries, the US, the UK and India follow. The figures come from a practitioner with 12 years in the Thai market, speaking at our closed session for brokers.

Who buys property in Thailand most often?

The main buyer nationalities are China, Myanmar, Russia, Taiwan, European countries, the US, the UK and India. The first three account for 54% of freehold purchases in condominiums.

This is about units registered in the foreigner's own name. It is the only form of full ownership open to foreigners, and it is capped by a quota: see our piece on the 49% condominium quota.

Why do Chinese buyers come?

Property in China has become cheaper: in a number of cities prices are roughly 25% below their 2020 level. For a Chinese buyer, a unit in Thailand is a way to move part of their capital out of the country.

The second reason is children. Competition for a place at a good Chinese school is fierce, so families bring their children to study at international schools in Thailand. The purchase follows the school.

The third is a clean, documented result: official income from rent and from resale, a foreign bank account and a card.

Why do buyers from Myanmar come?

Myanmar is under military rule. There is money in the country, but its owners do not know when they might lose it, and they look for somewhere to move their capital.

This buyer hardly asks about yield. Whether it is 6% or 7% a year does not matter: the aim is to keep the money safe in a neighbouring country where banks and courts work.

What are Russian buyers looking for?

For Russians, Thailand offers income in a stable currency: according to the speaker, the baht holds its rate against the dollar far more steadily than the rouble. Add a foreign bank account that is opened without difficulty.

• payment by QR code almost everywhere;
• transfers by phone number;
• cards for tourists issued by Thai banks.

There is an everyday reason too: the owner lives in the unit for half the year. How to work that into the numbers is covered in our review of long stays in Thailand.

Buyers from the Gulf states

A separate group is residents of Bahrain, Kuwait, the Emirates and Saudi Arabia. They visit Thailand in large numbers, but it is not something people talk about at home.

That creates a risk few think of: the family does not know the unit exists. We explain how that ends in our piece on inheritance in Thailand.

What this means for a buyer from Dubai

The Thai market rests on three different motives: protecting capital, personal use and diversification. Yield is not the main argument here — it runs at 4–6% net.

According to the speaker, after the first unsettling news in the region some clients of Dubai brokers went to look at Thailand. In March the brokers themselves travelled to Phuket and Pattaya — more in our piece on how to choose a broker in Thailand.

Frequently asked questions

What share of foreign purchases goes to China, Myanmar and Russia?

54% of the condominium units foreigners buy freehold. The rest is shared by Taiwan, European countries, the US, the UK and India.

Can a Russian citizen open an account with a Thai bank?

Yes; according to the practitioner, the account is opened without difficulty. QR-code payments and transfers by phone number are available, and banks issue separate cards for tourists.

Do people buy in Thailand for the yield?

Rarely. Net rental yield is 4–6% a year. The main motives are keeping capital outside the home country, living in the unit for part of the year and spreading assets across markets.