Russian buyers become second-largest foreign condo purchasers in Thailand as Chinese demand slides
Russian buyers overtook other nationalities to become the second-largest foreign purchasers of Thai condominiums in Q3 2026, with total transactions worth THB1.78 billion. The shift occurred as Chinese demand, traditionally the top market, fell sharply, while overall foreign condo transfers declined
Russian buyers have become the second-largest foreign purchasers of condominiums in Thailand, with total transactions worth THB1.78 billion in the third quarter of 2026, according to data from the Real Estate Information Center (REIC) as cited by Thai housing news platform Taladbandee. The figure represents a nearly 50 per cent year-on-year increase.
The rise to second place occurred as demand from China, the traditional top market, experienced a significant decline of 36.1 per cent. The growth in Russian investment is a key driver for property markets in Chon Buri and Phuket, where the value of their purchases grew by 57.3 per cent and 80.3 per cent respectively, according to The Nation.
REIC reported that 3,085 condo units changed hands in transfers to foreign buyers nationwide in Q3 2026, down 19.7 per cent. The combined value of those transfers fell 7.6 per cent to THB14.206 billion. In the first nine months of 2026, the figure fell 3.7 per cent to THB42.473 billion.
Foreign demand for condominiums in Thailand remained under pressure in the first nine months of 2026, with ownership transfers to foreign buyers falling 12.7 per cent. Transfer values fell less sharply than unit counts, and the figures show foreign demand has yet to recover fully.
Shifts in buying patterns across nationalities point to a more diversified market. Some other foreigner groups also posted notable growth. The value of transfers to Indian buyers climbed 66.6 per cent. Transfer values also rose 34.6 per cent for buyers from the U.K., 30.4 per cent for those from the U.S. and 2.9 per cent for those from Germany. Bucking the trend, the value of transfers to Taiwanese buyers fell 50.5 per cent.
