thailand-market

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

8/13/2026

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.

AI-assisted, checked by our editorial team

Thailand's condo transfer numbers are down, but not everywhere at once. Nationwide condominium ownership transfers hit a ten-year low in 2025, and yet foreign buyer unit counts actually crept up. Pattaya's Eastern Seaboard market kept its spot as a magnet for overseas capital even while other regions cooled off. This isn't a simple story of contraction — it's a market splitting into clear winners and losers depending on location and price bracket.

How Deep Is Thailand's Condo Transfer Volume Decline?

The headline figures aren't pretty. Nationwide condo ownership transfers fell 13.2% to 101,103 units in 2025, while total transfer value dropped 17.8% to 244.1 billion baht — the lowest level in a decade, according to a Real Estate Information Center (REIC) breakdown reported by Thai Enquirer.

The broader residential picture, houses and condos together, follows a similar but somewhat gentler pattern. REIC had forecast nationwide residential transfers would fall 7.3% from 2024 to 322,500 units in 2025, with another 0.7% slide to 320,200 units expected in 2026 — consecutive annual declines going back to the 2022 peak.

Full-year 2025 results landed close to that call: total residential transfers came in at 316,000 units, down 9.1% from the prior year, with transfer value at 864 billion baht, an 11.8% drop. What matters here is the trajectory — conditions improved every single quarter through 2025, and REIC noted the market had bottomed out and was showing signs of recovery by Q4.

What's Driving the Slump

Weak domestic purchasing power is at the root of it. Accumulated transfers for the first nine months of 2025 fell 9.3% in volume and 12.4% in value year-on-year, something analysts linked to persistently soft consumer demand rather than any one-off shock. Government stimulus, including cuts to transfer and mortgage registration fees, gets credit for the Q3 recovery and the forecast Q4 rebound.

One concrete lever worth flagging: the transfer registration fee was reduced to 0.01% (down from the standard 2%) and the mortgage registration fee to 0.01% (down from 1%) for homes priced at 7 million baht or below — a relief measure the Cabinet has since extended. That discount applies only to Thai nationals, since foreigners still pay the standard 2% transfer fee, which is an important detail when you're comparing net costs across buyer nationalities. For the full mechanics behind the reduced fees and other 2026 lending changes, check our guide to Thailand's 100% LTV mortgage rules.

Foreign Buyers: Fewer Baht, More Units

This is where things get interesting. Foreign condo transfers by value took a real hit 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 almost anyone else.

But look at unit count and the story flips. For full-year 2025, foreign buyers transferred 14,899 condominium units, up 2.2% from 2024, even though total transfer value slipped 10.7% to 60.92 billion baht — and foreign ownership held steady at 14.7% of all condo units transferred nationwide. In Q4 alone, foreign condo transfers reached 3,888 units, up 1.1% quarter-on-quarter and 9.3% year-on-year.

The nationality breakdown has shifted quite a bit too:

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

Earlier in 2025, foreign ownership by value held around 29.3% of total transaction value even as China, Myanmar and Russia dominated unit counts, a reminder that a handful of source markets still anchor this segment. For readers weighing Thailand against restrictions elsewhere, our piece on Singapore's property tax pushing capital to Thailand covers the broader regional angle.

The Eastern Seaboard Exception: Pattaya Holds Its Ground

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

At the provincial level, the Eastern Economic Corridor (EEC) — 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; Q4 alone saw transfers dip 2.1% in units and 7.8% in value year-on-year.

Yet within that regional slowdown, Rayong actually bucked the trend early in 2025, posting a year-on-year increase in transfers driven by industrial-sector workers and by foreigners relocating from Pattaya — a detail that says a lot about how the Eastern Seaboard's demand base is diversifying 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 — proof the region isn't immune, just more resilient than the national average on the condo side specifically.

Buyers sifting through Pattaya-area stock in this uneven market might look at options like the Pristine Park 3 — 1 Bedroom 43m² or the larger Pristine Park 3 — 2 Bedroom 65.82m², both sitting in the price brackets where second-hand and mid-market demand has held up best.

Mortgage Rates: A Modest Tailwind

Borrowing costs have eased a touch, 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 steady easing trend.

For foreign buyers, though, access to financing remains the bigger obstacle, more so than the rate itself. Most Thai banks stay cautious about lending to non-residents, and foreign-focused mortgage products from banks like UOB and ICBC still come with tighter terms than domestic loans. That financing gap is a large part of why cash purchases keep dominating 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. The 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 pockets of relative stability while the broader national market works through its correction. Checking unit-level stock such as the Pristine Park 3 — Studio or 1 Bedroom 58m² options against current REIC trends is a sensible starting point before committing capital.

The Bottom Line

Thailand's condo transfer decline is largely a national story of soft domestic demand meeting fee-cut stimulus and slowly easing rates. But underneath that headline sits a more encouraging regional and international sub-story — one where Pattaya, Rayong and a diversifying foreign buyer base are cushioning the Eastern Seaboard against the worst of the slowdown.

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