Thailand's condominium sales to foreigners down 6% in Q2
Condominiums (condo) purchased by foreign buyers in Thailand fell 6% year-on-year in the second quarter of 2024 to 3,342 units, down 18% in value to 14.8 billion THB (449 million USD).
Hanoi (VNA) - Condominiums (condo) purchased by foreign buyers in Thailand fell 6% year-on-year in the second quarter of 2024 to 3,342 units, down 18% in value to 14.8 billion THB (449 million USD), according to the Real Estate Information Centre, part of Thailand's Government Housing Bank,
The Southeast Asian country's condo sales are showing signs of slowing after a run-up driven by Chinese, Russian and other foreign buyers.
In the first half of this year, purchases by Chinese and Russian buyers decreased by 17% and 19%, respectively.
China accounts for more than half of the houses purchased by foreigners in Thailand, followed by Russia and Myanmar. Previously, Chinese citizens were seeking their second homes during the COVID-19 pandemic. Later, wealthy Chinese buyers set their sights on condominiums in Bangkok as an investment. However, that demand has diminished as China's economy has cooled down.
According to investment management firm Colliers, the number of new condominiums introduced to the market in Bangkok in the first six months of this year dropped by 44% to 8,674 units.
Sales to Thai buyers are also declining significantly amid rising household debt.
Insiders said real estate developers are shifting their focus toward selling off existing inventory.
𒀰 A representative of a developer mentioned that low-cost condominiums in the suburbs are very difficult to sell./.
While the number of Thai nationals buying domestic condominiums has slowed down, the demand from foreign buyers continues to surge, accounting for 24.6% of the total property transfer value nationwide in the first half of this year, up from 20.5% the previous year.
Foreigners will be able to own condominiums in Laos once the authorities enforce the newly revised Law on Land, the Vientiane Times reported on September 22.
Thailand has called for cooperation among countries along the Mekong River and take numerious measures to solve problems such as of drought and flood in the region.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
