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.
A representative of a developer mentioned that low-cost condominiums in the suburbs are very difficult to ܫsell./.
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.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
