Is now a good time to buy a condo in Thailand?

Nationally, softer transfer values and a projected 7.3% drop in total residential transfers give buyers more negotiating leverage than in recent years. In Pattaya's prime zones like Wongamat and Jomtien, however, prices have stayed firmer, so waiting doesn't guarantee a discount there.

Has the 49% foreign condo ownership quota changed?

No. The 49% foreign freehold quota remains unchanged despite proposals to raise it to 75%, and officials have noted that few projects have even reached the current cap, which reduces pressure for an imminent change.

Can foreigners get a mortgage to buy property in Thailand?

It's possible but limited. Thai banks typically lend foreigners only 50-60% of a property's value versus up to 70% for Thai citizens, and rates commonly range from about 4% at major banks to 8-12% through brokers, so most foreign buyers still rely heavily on cash or developer payment plans.

How do Pattaya condo prices compare across neighbourhoods?

Wongamat beachfront commands the highest prices, roughly 170,000-250,000 baht per square metre, while East Pattaya and inland Jomtien offer entry-level options around 60,000-90,000 baht per square metre. Pratumnak Hill and central Jomtien sit in between as the mid-market sweet spot.

Are Chinese buyers still the largest foreign buyer group in Thailand?

Yes, Chinese nationals remain the top foreign buyer group by transfer volume, though a domestic economic slowdown in China has made this group more cautious on transaction values compared with the previous year.

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Thailand Real Estate Market 2025: Condo Transfers, Prices & Rules

7/15/2026

Foreign condo transfers rose 2.2% nationally in 2025 but transaction values fell, while Pattaya's core zones held firm. Here's what the data means for buyers.

Generated with AI, reviewed by our editorial team

Thailand's condo market closed 2025 in a split state: transfer volumes to foreigners edged up while total transaction value fell, mortgage rates for locals stayed high, and Pattaya bucked the national slowdown with steady price growth. For buyers, that means more negotiating power nationally, but continued competition for well-located Eastern Seaboard units. Here's what the numbers actually show.

Thailand Real Estate Market 2025: The National Picture

Nationwide, the condo market delivered a mixed scorecard last year. Foreign buyers kept showing up, but they spent less per transaction on average, a sign of caution rather than retreat.

According to the Real Estate Information Centre (REIC), foreign buyers accounted for 14,899 condominium unit transfers nationwide in 2025, up 2.2% year on year, while the total transfer value fell 10.7% to 60.92 billion baht. That divergence—more units, less money—points to smaller-ticket purchases and tighter budgets across buyer nationalities.

The REIC's mid-year data confirms the trend held throughout 2025. This reflected a slowdown in both the Thai and global economies, making buyers more cautious, with Chinese buyers in particular affected by domestic economic pressures at home.

Zooming out to the broader residential sector, the outlook is softer still. The REIC's year-end expectations indicate that nationwide transfers would remain negative on a full-year basis, reflecting continued buyer caution and weak purchasing power, with total transfers projected at 322,500 units, down 7.3% compared with the prior year.

Put simply: it's a buyer's market nationally, but not a collapsing one.

Foreign Buyer Trends Behind the Thailand Real Estate Market Numbers

Look past the headline totals and the nationality mix tells its own story. Chinese buyers remain the largest single group, but their spending patterns have shifted.

Chinese buyers: Still the top nationality by volume, though transaction values softened alongside China's own economic slowdown.
Russian buyers: Fewer units, but higher spend per condo, with transaction values up 6.9% year on year, pointing to a shift toward premium deals.
Myanmar buyers: An increasingly active segment, buying in greater numbers even as average deal sizes stay modest.

It's also worth remembering how small a slice foreigners actually occupy. Foreigners purchased 7,167 condo units in the first half of 2025 worth roughly ฿28.7 billion — impressive-sounding, but representing less than 10% of total condo transfers nationwide. Thai domestic demand, not overseas buyers, still drives the bulk of the market.

Pattaya and the Eastern Seaboard: Bucking the National Trend

While the national condo market cooled, Pattaya's Eastern Seaboard segment has held its ground far better, supported by tourism recovery, infrastructure investment, and steady rental demand.

Current market data puts the city's average condo price at roughly ฿70,000 per square metre, with forecast growth near 3% year on year and rental yields in the 6–8% range. Location, however, changes the math dramatically:

Wongamat beachfront — the premium tier, commanding roughly 170,000–250,000 baht per square metre thanks to scarcity and direct sea views.
Pratumnak Hill and central Jomtien — the mid-market sweet spot, popular with both owner-occupiers and renters.
East Pattaya and inland Jomtien — the entry-level tier, at roughly 60,000–90,000 baht per square metre, attractive for first-time or budget-conscious buyers.

For investors comparing neighbourhoods, our guide to Pattaya condos for sale breaks down current listings across each of these zones, while our overview of Jomtien property investment digs deeper into yield performance in that specific sub-market.

Mortgage Rates and Financing Conditions

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Financing costs remain one of the biggest variables for anyone buying in Thailand, and the picture differs sharply between Thai nationals and foreign buyers.

Standard mortgage rates in Thailand typically sit between 5–8%, but can run as high as 12% through a mortgage broker.
Some major banks currently quote sharper headline rates: SCB around 4.2%, Kasikorn around 4.1%, and Bangkok Bank around 4.3%, though these promotional rates usually apply to specific borrower profiles.
Loan-to-value ratios differ by nationality. Thai citizens can typically borrow up to 70% of a property's value, while a bank is more likely to loan around 50–60% of the property's value for foreigners.

In practice, most foreign buyers still purchase in cash or via developer instalment plans rather than a Thai bank mortgage, given the lower LTV ceilings and stricter income documentation requirements.

Foreign Ownership Rules: What's Changed and What Hasn't

The 49% foreign quota remains the single most important rule for anyone buying a condo in Thailand, and despite ongoing debate, it hasn't moved.

The 49% condo quota is unchanged despite proposals to raise it to 75%. In practical terms, that means:

Once a project's foreign quota is full, non-Thai buyers can only acquire additional units through leasehold structures, not freehold.
A separately discussed 99-year leasehold proposal is a distinct policy track. The 49% foreign freehold quota for condominiums is separate and unchanged, and a 99-year scheme would mainly impact leasehold options such as villas and some branded residences.
Consumer protection has improved on the buying side too: new OCPB rules protect off-plan condo buyers from deposit confiscation, effective January 2025.

The quota debate itself isn't settled. Officials have argued the discussion should move beyond simplistic framing, noting that only a limited number of condominium projects in Thailand have reached the full 49% foreign ownership quota, which somewhat undercuts arguments for urgent reform. Buyers should treat any quota increase as a live policy discussion, not settled law, and verify a specific building's remaining foreign quota before committing to a purchase — something our team checks as part of every property purchase in Pattaya enquiry.

What This Means for Buyers Right Now

Pulling the threads together, three practical takeaways stand out for anyone weighing a purchase in this Thailand real estate market cycle:

National softness creates negotiating room. With overall transfers down and foreign transaction values falling, sellers in less prime areas are more open to price discussion than a year ago.
Pattaya's core zones are the exception, not the rule. Wongamat, Pratumnak, and prime Jomtien continue to see firmer pricing and steady rental yields even as the national average cools.
Financing still favours cash or developer terms. Given lower LTV limits and higher effective rates for foreigners, most overseas buyers should budget for 40–50% cash outlay minimum, with financing as a supplement rather than the primary funding route.

None of this points to a market in distress. It points to a market that has normalised after a hotter post-pandemic run, with the Eastern Seaboard proving more resilient than the national average.

Quick FAQ Snapshot for New Buyers

If you're weighing your first Thai condo purchase, the questions below come up in nearly every conversation we have with new clients — answered in the FAQ section below with the same data referenced throughout this article.