thailand-market

Thailand's Condo Transfer Volume Decline: What the 2025 Data Really Shows

8/3/2026

Nationwide condo transfers fell to their lowest level in a decade in 2025. We break down the REIC numbers, the foreign buyer reshuffle, and why the Eastern Seaboard is telling a different story than the rest of Thailand.

Generated with AI, reviewed by our editorial team

Thailand's condo transfer volume decline is real, but it isn't uniform. Nationwide condominium ownership transfers dropped to their lowest level in ten years in 2025, yet foreign buyer numbers for units actually edged up, and Pattaya's Eastern Seaboard market held its position as a top destination for overseas capital even as other regions slowed. The story isn't simple contraction — it's a market sorting itself into clear winners and losers by location and price point.

How Deep Is Thailand's Condo Transfer Volume Decline?

The headline numbers are sobering. Nationwide condo ownership transfers dropped 13.2% to 101,103 units in 2025, while total transfer value fell 17.8% to 244.1 billion baht, marking the lowest level in 10 years, according to a Real Estate Information Center (REIC) breakdown reported by Thai Enquirer.

The wider residential market — houses and condos combined — tells a similar but slightly less severe story. REIC forecast nationwide residential transfers would fall 7.3% from 2024 to 322,500 units in 2025, with a further 0.7% dip to 320,200 units expected in 2026, marking consecutive annual declines since the 2022 peak.

Actual full-year 2025 results landed close to that forecast: total residential transfers came in at 316,000 units, down 9.1% year-on-year, with transfer value of 864 billion baht, an 11.8% drop. Importantly, the situation improved in every quarter of 2025, with REIC noting the market had bottomed out and showed signs of recovery by the fourth quarter.

What's Driving the Slump

Weak domestic purchasing power sits at the center of this. Accumulated transfers for the first nine months of 2025 fell 9.3% in volume and 12.4% in value year-on-year, which analysts tied to persistently soft consumer demand rather than any single shock. Government stimulus measures, including transfer and mortgage registration fee cuts, were credited with helping drive a Q3 recovery and a forecast Q4 rebound.

One concrete policy lever: the transfer registration fee was cut to 0.01% (from the standard 2%) and the mortgage registration fee to 0.01% (from 1%) for homes priced at 7 million baht or below, a relief measure the Cabinet has extended. It's worth noting this discount applies only to Thai nationals — foreigners continue paying the standard 2% transfer fee, which matters when comparing net costs across buyer nationalities. For a full walkthrough of the reduced-fee mechanics and other 2026 lending changes, see our guide to Thailand's 100% LTV mortgage rules.

Foreign Buyers: Fewer Baht, More Units

Here's where the narrative gets more interesting. Foreign condo transfers by value slumped hard in 2025 — REIC data showed foreign condo transfers in the January-September window fell 14.2% to 44.1 billion baht, even as Indian buyers were spending more per unit than most other nationalities.

Yet by unit count, the picture is different. For the full year 2025, foreign buyers transferred 14,899 condominium units, up 2.2% from 2024, even though total transfer value fell 10.7% to 60.92 billion baht — and foreign ownership held at 14.7% of all condominium units transferred nationwide. In the fourth quarter alone, foreign condo transfers totaled 3,888 units, up 1.1% quarter-on-quarter and 9.3% year-on-year.

The nationality mix has also shifted meaningfully:

• China remains the top foreign buyer nationality by unit count, though its dominance has narrowed compared with prior years.
• Myanmar buyers posted the strongest growth of any nationality, jumping to second place nationwide in 2025.
• Indian buyers stood out on spending power: in Q1 2026 data, Indian buyers had the highest average transfer value per unit at roughly 5.6 million baht — above the overall foreign-buyer average of 4.2 million baht — and the largest average unit size at 67.8 square meters.

Earlier in 2025, foreign ownership by value was holding steady at around 29.3% of total transaction value even as China, Myanmar and Russia led unit counts, underlining how a handful of nationalities continue to anchor the segment. For buyers weighing where Thailand fits against restrictions elsewhere, our piece on Singapore's property tax pushing capital to Thailand covers the wider regional picture.

The Eastern Seaboard Exception: Pattaya Holds Its Ground

While many regions cooled, Pattaya and Bangkok remained the top hotspots for foreign condo buyers even as transfers slowed elsewhere. In Q1 2025, foreigners transferred ownership of 3,919 condo units nationwide, valued at 16.39 billion baht — only a 0.5% dip in unit count year-on-year, a far gentler decline than the double-digit drops seen in domestic transfer data.

At the provincial level, the Eastern Economic Corridor (EEC) — covering Chon Buri, Rayong and Chachoengsao — did soften overall. Full-year 2025 housing transfers across the EEC fell 4.4% to 45,958 units, with value down 7.4% to 111 billion baht; the fourth quarter alone saw transfers dip 2.1% in units and 7.8% in value year-on-year.

But within that regional slowdown, Rayong actually bucked the trend in early 2025, recording a year-on-year increase in transfers driven by industrial-sector workers and by foreigners relocating from Pattaya — a detail that speaks directly to the Eastern Seaboard's diversifying demand base beyond the beachfront. Chon Buri itself saw an 8.5% decline in Q1 2025 housing transfers to 6,621 units, with value down 9.8% to 17.5 billion baht, showing the region isn't immune, just more resilient than the national average on the condo side specifically.

For buyers evaluating specific Pattaya-area stock amid this uneven market, options like the Pristine Park 3 — 1 Bedroom 43m² or the larger Pristine Park 3 — 2 Bedroom 65.82m² sit in the price brackets where second-hand and mid-market demand has been holding up best.

Mortgage Rates: A Modest Tailwind

Borrowing costs have eased slightly, which helps explain the late-2025 stabilization. The Bank of Thailand's benchmark lending indicator for foreign bank branches reached 6.33% in June 2026, down from 6.42% in June 2025 and 7.16% in June 2024 — a gradual but consistent easing trend.

For foreign buyers specifically, financing remains the bigger constraint than rates alone. Most Thai banks are cautious about lending to non-residents, and foreign-focused mortgage products from banks like UOB and ICBC still carry stricter terms than domestic loans. This financing gap is a large part of why cash purchases continue to dominate the foreign condo segment, regardless of where headline rates sit.

What This Means for Buyers and Investors

Putting the pieces together, three practical takeaways stand out:

1. National transfer volume weakness reflects domestic purchasing power more than foreign demand — foreign unit transfers actually grew in 2025.
2. Pattaya and the wider Eastern Seaboard are proving more resilient on foreign condo demand than many other provinces, even as EEC-wide housing transfers softened.
3. Nationality mix is diversifying — Myanmar and Indian buyers are gaining share, which reduces reliance on any single source market.

For investors, this points toward the Eastern Seaboard's mid-market and second-hand segments as areas of relative stability while the broader national market works through its correction. Reviewing unit-level stock such as the Pristine Park 3 — Studio or 1 Bedroom 58m² options against current REIC transfer trends is a reasonable starting point before committing capital.

The Bottom Line

Thailand's condo transfer volume decline is a national story of soft domestic demand meeting fee-cut stimulus and gradually easing rates. But it masks a more encouraging regional and international sub-story — one where Pattaya, Rayong and diversifying foreign buyer nationalities are cushioning the Eastern Seaboard against the worst of the slowdown.

Related articles

thailand-market

Thailand's 100% LTV Mortgage Rules: What They Really Mean for Buyers

Thailand relaxed loan-to-value mortgage limits to 100% through mid-2026 to revive a sluggish property market. Here's what the rule actually covers, why it hasn't triggered a lending boom, and what it means for buyers in Pattaya and beyond.

thailand-market

Thailand Real Estate Market Analysis: Condo Transfers, Prices and Rules for 2026

Thailand's condo market is in its fourth straight year of softening nationally, but foreign demand, EEC infrastructure and Eastern Seaboard resilience tell a very different story for Pattaya buyers.

thailand-market

Thailand Condo Transfer Fees in 2026: What Buyers Actually Pay at Handover

Thailand's condo transfer fee is a flat 2% of appraised value, plus stamp duty, withholding tax and specific business tax depending on how long the seller has owned the unit. Here's exactly what buyers and sellers pay at the Land Department in 2026, and how it fits into a softening transfer market.