Thailand’s Property Market in 2026 by the Numbers: Foreign Transfers, Tourism and New Launches
Thailand’s foreign condominium market is holding its volume but cooling in value. In 2025 foreigners took 14,899 condominium units in Thailand worth THB 60.92 billion, up 2.2% in units but down 10.7% in value. In the first half of 2026 foreign transfers fell to 6,533 units and about THB 28.27 billion, down 8.8% in units and 1.5% in value year on year. Within that, Chinese purchases fell sharply while Russian purchases rose by three quarters, mostly in Phuket and Chonburi.
Tourism is also slightly down: foreign arrivals fell 7.23% in 2025 and were 4.12% lower in 2026 to 17 October. In Phuket, new launches in the first half of 2026 were weighted towards villas by value. Below we take each set of figures in turn.
Foreign condominium transfers
The clearest measure of foreign buying is the number of condominium units the Land Department registers to foreigners. These are completed transfers, so they lag reservations and off-plan sales by the length of construction.
| Period | Units | Value (THB) | Change year on year |
|---|---|---|---|
| 2025, full year | 14,899 | 60.92 billion | Units up 2.2%, value down 10.7% |
| Q1 2026 | 3,241 | 13.464 billion | Units down 17.3%, value down 17.9% |
| H1 2026 | 6,533 | 28.267 billion | Units down 8.8%, value down 1.5% |
Foreigners were a meaningful part of the whole market: 14.7% of all condominium transfer units in 2025 and 25.0% of their value. The gap between those two shares means foreign buyers, on average, paid more per unit than the market as a whole.
Who is buying
The average foreign transfer was about THB 4.1 to 4.2 million and about 41 to 44 m2 per unit in 2025 and the first quarter of 2026. Nationalities differ a great deal. Chinese buyers averaged THB 3.8 million and 35.6 m2 in 2025; Indian buyers averaged THB 6.9 million and 75.7 m2.
The first half of 2026 shows the shift between groups:
- Chinese buyers remained the largest group, but their purchases fell 27.7% by value, to THB 6.874 billion.
- Russian buyers were the fastest growing, up 75.9% to THB 3.603 billion, mainly in Phuket and Chonburi.
- Myanmar buyers were third, at THB 2.457 billion, down 16.2%, mainly in Bangkok.
In Phuket, demand is strongest from Russian, European and Bangkok buyers, many of them relocating or staying long term.
Where they buy
Bangkok had nearly half of all foreign condominium transfers in 2025, and Chonburi, the province of Pattaya and Jomtien, more than a quarter. Chonburi also had the largest number of foreign transfers in early 2026. Chinese and Myanmar buyers concentrate in Bangkok; Chinese and Russian buyers are the main foreign groups in Chonburi.
Tourism: the national picture and Phuket
Thailand received 32,974,321 foreign arrivals in 2025, down 7.23% from 2024, and foreign-visitor revenue of about THB 1.53 trillion. The top markets were Malaysia (4.52 million), China (4.47 million), India (2.49 million), Russia (1.9 million) and South Korea (1.55 million).
From January to 17 October 2026 Thailand had 24,423,680 foreign arrivals, down 4.12% year on year, and revenue of THB 1,189.6 billion. China led with 4.14 million, followed by Malaysia (3.10 million), India (1.84 million), Russia (1.33 million) and South Korea (0.90 million).
Phuket’s visitor figures are counted on different bases, so read each line on its own:
- First half of 2026: about 7 million visitors (6.96 million) and THB 263 billion in tourism revenue. Hotel occupancy averaged 81.85%, which tells you about hotels, not about private homes let by their owners.
- January to April 2026: 4.90 million visitors, down 2.1% year on year.
- January to July 2026: 8.10 million visitors, down 1.5%, of whom 5.95 million were foreign, down 2.6%.
- Full year 2025: 10.75 million foreign visitors out of 14.25 million in total, and THB 555 billion in revenue.
Phuket International Airport handled about 17.5 million passenger movements in 2025 and averaged 47,219 passengers and 288 flights a day from October 2025 to September 2026, well above its designed capacity of about 12.5 million passengers a year.
Phuket supply, prices and launches
In the first quarter of 2025 there were about 40,600 residential units for sale on the island in 343 developments, 83% of them condominiums. Median asking prices, as of April 2025, were about THB 144,000 per m2 for condominiums and THB 70,000 per m2 for villas. New non-branded condominiums averaged THB 139,000 per m2 against THB 100,000 on resale, a 39% premium for new stock. These are asking prices, not sale prices.
Supply is highly concentrated. The Cherngtalay submarket, around Bang Tao and Laguna, held 54% of the island’s units for sale, about 16,381, and had the highest median condominium asking price of the main submarkets, about THB 156,000 per m2. Rawai held 16% and Karon 13%. Branded condominiums asked a median of about THB 181,000 per m2, against about THB 141,000 for non-branded ones.
Launches in the first half of 2026 leaned towards villas by value. In that half year 67 projects were launched in Phuket, with 4,166 units and about THB 52.96 billion of development value. Condominiums accounted for 16 projects, 3,466 units and THB 20.45 billion; villas for 51 projects, only 700 units but THB 32.5 billion, more than 61% of the value.
At the top end, sales of Phuket villas priced at THB 90 million or more rose by more than 50% year on year in the first half of 2026, and sales of condominiums at THB 8 million or more by 11%.
In Bangkok, by contrast, new launches have been falling because of household debt, high mortgage rejection rates and unsold developer stock.
Credit and infrastructure
One headline measure does not apply to foreign buyers. The Bank of Thailand temporarily raised the maximum loan-to-value ratio to 100% for housing loans signed from 1 May 2025 to 30 June 2026, and consulted in May and June 2026 on extending it to 30 June 2027. It is a ceiling for Thai banks, not an entitlement, and it is not evidence that foreigners can borrow. Most foreign buyers pay cash or use developer instalment plans. Similarly, the reduced 0.01% transfer fee extended to 30 June 2027 applies only to Thai individual buyers.
On infrastructure, the figures are mostly plans. Phuket airport’s Phase 2 international terminal is scheduled to start construction in 2027 and open in 2032, lifting capacity to about 19 million passengers a year. The Kathu-Patong expressway’s first phase targets an October 2031 opening and still needs cabinet approval, with EXAT planning to raise about THB 20 billion for it through an infrastructure fund. Phuket has projects worth more than THB 214 billion in the pipeline, including the Andaman airport, the light rail, two hospital projects and an outlet mall, none of them with a timeline. In the east, the high-speed rail link to U-Tapao remains stalled.
Rents and yields
Long-term asking rents in Phuket in April 2025 were about THB 18,950 a month for a condominium studio and THB 22,541 for a one-bedroom. They describe what landlords asked, not what tenants paid, and they cannot be turned into a yield without a purchase price for the same unit.
Yields quoted in listings for Phuket, Bangkok, Pattaya or Samui are built on asking figures, so read them as the seller’s estimate.
What to check before you buy
- Where any market figure in a sales presentation comes from, its date, and whether it is an asking price or a completed transfer.
- Whether a quoted yield rests on real rents or on asking figures.
- For an off-plan purchase, how many similar units are launching nearby, with the launch and supply figures above as context.
- Whether the investment case depends on infrastructure that is still a target or a plan.
- How the nationality mix of buyers in your chosen area might affect resale demand.
Area detail is in our Phuket area guide and our guide to Bangkok, Pattaya and Koh Samui. Current projects are on our Thailand properties page.
