Thaizo
🗓️ August 29, 2026
📍 Thailand
Russian Condo Buyers Are Surging in Thailand — While Chinese Demand Slows
Thailand’s foreign condo market is slowing down — but there’s an interesting twist.
While the overall market cooled in the first half of 2026, Russian buyers went in the opposite direction, with the value of their condo purchases jumping by an impressive 75.9%.
So, what’s happening?
It looks less like foreign buyers are disappearing from Thailand and more like the market is changing who is buying, where they’re buying, and why.
🇷🇺 Russians Are Suddenly a Big Deal
Russian buyers transferred 3.603 billion baht worth of condominiums in Thailand during the first six months of 2026.
That’s 75.9% more than during the same period last year.
And the timing is interesting.
The total value of condos transferred to all foreign buyers actually fell 1.5%.
In other words, while the overall foreign market was taking a small step backward, Russian buyers were taking a giant step forward.
Where Are Russians Buying?
A lot of the Russian demand is showing up in Phuket and Chonburi.
That makes sense because both areas are strongly connected to tourism and international lifestyles.
- Phuket — one of Thailand’s biggest international tourism destinations.
- Chonburi — home to places such as Pattaya and areas linked to the Eastern Economic Corridor.
This could be an important shift for Thailand’s property market.
Foreign demand has traditionally been strongly associated with Bangkok, but Russian buyers are putting more money into resort and tourism-focused locations.
🇨🇳 China Is Still No. 1 — But Things Have Slowed
China is still Thailand’s biggest foreign condo market.
Chinese buyers transferred 6.874 billion baht worth of condos during the first half of 2026.
But there’s a catch.
That figure is 27.7% lower than last year.
So while Chinese buyers remain the biggest group, their buying power has clearly cooled.
Chinese purchases are still concentrated mainly in Bangkok and Chonburi, where there are strong residential, business and tourism markets.
For developers and condo projects that depend heavily on Chinese buyers, this slowdown could become a concern if it continues.
The big question now isn't:
“Are Chinese buyers still interested in Thailand?”
They clearly are.
The bigger question is:
“When will Chinese buying activity return to previous levels?”
🇲🇲 Myanmar Buyers Are Slowing Too
Myanmar buyers also remained an important part of Thailand’s foreign condo market.
They transferred 2.457 billion baht worth of condos during the first half of 2026.
But that was 16.2% lower than the previous year.
Unlike Russian buyers, who are increasingly focused on Phuket and Chonburi, Myanmar buyers continue to concentrate mainly on Bangkok.
And this highlights something important:
There really isn't one single “foreign buyer” market in Thailand.
Different nationalities have very different reasons for buying property.
- Some want a holiday home.
- Some want an investment.
- Some want to live in Thailand.
- Others are focused on business or lifestyle opportunities in Bangkok.
📊 Who Is Buying the Most?
Here’s a quick look at the condo transfer value for the three major foreign buyer groups mentioned in the report:
📊 Foreign Condo Transfer Value by Buyer Group
Condominium transfer value in Thailand during the first half of 2026.
Values shown in billion baht.
📍 Bangkok Isn't the Whole Story Anymore
The numbers show that Thailand's foreign condo market is becoming more diverse.
China is still the biggest player.
But Russian demand is growing rapidly, particularly in tourism destinations.
Meanwhile, Myanmar demand is falling but remains heavily focused on Bangkok.
So instead of looking at foreign buyers as one big group, developers may need to start asking more specific questions:
- Who are we selling to?
- Where do they want to live?
- Are they buying for investment, lifestyle or tourism?
- What destination actually appeals to them?
🔄 So, Is Thailand's Foreign Condo Market in Trouble?
Not exactly.
The first-half numbers show a market that's changing rather than simply collapsing.
- 🇨🇳 China: 6.874 billion baht — down 27.7%
- 🇷🇺 Russia: 3.603 billion baht — up 75.9%
- 🇲🇲 Myanmar: 2.457 billion baht — down 16.2%
- 🌏 All foreign buyers: 28.267 billion baht — down 1.5%
There were also 6,533 foreign condo transfers, down 8.8% from the same period last year.
So the market is definitely cooler overall.
But underneath those headline numbers, something more interesting is happening.
🚀 The Big Takeaway
🇷🇺 Russia is rising.
🇨🇳 China is slowing.
🇲🇲 Myanmar is cooling.
📍 Phuket and Chonburi are becoming more important.
Thailand's foreign property market may be entering a new phase — one where the nationality of the buyer and the location of the property matter more than ever.
For developers, agents and investors, the lesson is simple:
Don't just ask, “How do we attract foreign buyers?”
Ask: