Foreign Condo Purchases in Thailand Expected to Drop 20% This Year, Says K-Research

Kasikorn Research Center (K-Research) has released a new forecast indicating a significant downturn in foreign investment within Thailand's condominium market. The research arm predicts that foreign purchases of condo units will see a substantial decline of 20% this year. This projection is particularly noteworthy as it represents the first annual contraction in foreign condo acquisitions since the onset of the global pandemic. In previous years, despite various challenges, foreign buying activity had either grown or remained stable. The anticipated decline reflects a confluence of factors, including global economic uncertainties, evolving travel restrictions, and shifts in domestic market conditions. This trend warrants close attention from stakeholders within Thailand's real estate sector, which has historically relied on foreign capital.