Pattaya in investors’ focus: growing interest from Russian-speaking buyers

The content of the article

1. Transactions of foreigners with condominiums in Thailand in the 1st quarter of 2025
2. The demand of Russians for real estate in Thailand in the 1st quarter of 2025

According to the latest data from the regulator REIC (Real Estate Information Center), in the 1st quarter of 2025, the Thai condominium market demonstrated steady demand from foreign buyers, with marked differences in investment strategies. A total of 3,919 apartments worth $483 million were purchased by foreign investors.

Transactions of foreigners with condominiums in Thailand in the 1st quarter of 2025

China is traditionally the leader with more than 1,400 transactions worth 180 million dollars and a share of almost 38%. This is the largest group of investors in terms of the number and volume of transactions. China is followed by Myanmar and Russia, with more modest budgets but similar facilities (35-39 square meters meters). Such facilities are most likely intended for short-term rentals or as a place for seasonal recreation.

At the opposite pole are buyers from the UK, USA and Australia, who purchase more expensive and spacious properties (52-60 sq. m. meters). This indicates an interest in apartments for long-term stays or vacations in conditions of greater comfort.

In the 1st quarter of 2025, Russia, as before, occupies a confident third place in the number of apartments purchased — 288 transactions worth $ 29 million. This represents 7.3% of the total number of purchases among foreign citizens. The total area of the purchased housing was 11,217 square meters. meters. The average purchase receipt is $100,163, one of the lowest among the top 10 countries.

Transactions of foreigners with condominiums in Thailand in the 1st quarter of 2025

Data from: REIC, Government Housing Bank

According to the REIC regulator, in the 1st quarter of 2025, the demand of foreign buyers for condominiums in Thailand remains stable, however, there is a shift in the geography of buyers and a change in the structure of transactions compared to the same period in 2024.

The largest growth was demonstrated by investors from Singapore — the number of transactions increased by 63.2%. This may indicate the high attractiveness of the Thai market as an alternative to expensive Singaporean housing and a tool for capital diversification. There was also a significant increase in interest from Taiwan (+37.8%), France (+22.5%) and the United Kingdom (+21.3%), countries whose citizens increasingly consider Thailand as a destination for seasonal living or rental investments.

At the same time, traditional leaders have reduced their activity: the number of transactions with Chinese citizens fell by 7.2%, and the United States by 10.4%.

Russia showed a decrease of 2.4%, which can be described as a relatively stable result against the background of a general change in the structure of demand. A slight correction may be due to the fact that in 2022-2023, the interest of Russian buyers was abnormally high, and the market is now gradually reaching a more balanced level. This may also indicate a partial saturation of demand and a shift to a more selective approach when choosing facilities.

A more noticeable decrease is observed in Germany (-23.8%) and Australia (-26.5%), which may be due to macroeconomic factors.

The growth of foreign transactions with condominiums in Thailand in the 1st quarter of 2025 / 1st quarter of 2024

Data from: REIC, Government Housing Bank

The demand of Russians for real estate in Thailand in the 1st quarter of 2025

According to Tranio, in the 1st quarter of 2025, the structure of demand from Russian-speaking buyers in Thailand continues to change. Interest in the traditionally popular resorts of Phuket and Koh Samui (Surat Thani Province) — decreasing: market saturation is recorded in these regions, and the number of transactions decreased by 14.35% and 13.59%, respectively, compared to the same period last year.

Against this background, Pattaya is steadily strengthening its position: thanks to infrastructure development, improved transport accessibility and increased investment attractiveness, demand for local real estate increased by 52.88% year-on-year. Additionally, interest in Bangkok — the capital showed a 504.89% increase in transactions and is entering a new round of activity.

Regional Manager’s comment

Interest in Pattaya’s demand from Russian-speaking investors is growing primarily due to the large-scale development of urban infrastructure. The city is implementing the Neo Pattaya strategy aimed at diversifying the economy and creating new business, tourism and cultural centers. In the coming years, it is planned to open a new cruise terminal, modernize the U-Tapao International Airport with an increase in passenger traffic to 3 million people per year, as well as launch a high-speed railway connecting Pattaya with two airports in Bangkok. These changes make the city more accessible and attractive for living and investment.

The demand of Russians for real estate in Thailand by popular regions, 1st quarter 2025 / 1st quarter 2024 / 1st quarter 2023

Tranio data for 2023-2025

An analysis of the median budgets of property buyers in Thailand from 2023 to 2025 shows a steady downward trend in costs, which indicates a growing interest in more affordable properties, a change in the composition of buyers and a correction in price expectations.

According to Tranio, in the 1st quarter of 2025, Phuket, which remains the most popular destination, shows the most noticeable decrease: from 186,370 euros in the 1st quarter of 2023 to 121,690 euros in 2025 (-34.71%). For the year alone (Q1 2025 / Q1 2024), the drop was 12.04%, which may indicate a revaluation of the local market, saturation of the premium segment and increased competition with other regions.

Pattaya, on the contrary, shows a more moderate decrease: from 117,502 euros in Q1 2023 to 100,000 euros in Q1 2025. The reduction was 14.9% for the entire period. This indicates price stabilization amid growing interest in the city as a more affordable alternative to Phuket.

The real estate market on Koh Samui also shows a decrease in the median budget from 2023 to 2025. In Q1 2023, the median budget was 250,000 euros, and in Q1 2025, 200,000 euros. Thus, the drop was 20% in two years, and a slight correction occurred over the past year (-1.21%).

Bangkok and Krabi are fully included in the statistics for the first time. In the capital in the 1st quarter of 2025, the median budget was 153,718 euros, and in the province of Krabi — 87,959 euros.

Median budgets of Russians, 1st quarter 2025 / 1st quarter 2024 / 1st quarter 2023

Tranio data for 2023-2025

An analysis of Tranio data on real estate purchase goals in Thailand for the 1st quarter of 2025 compared to 2023 and 2024 shows noticeable changes in buyer motivation.

Leisure shopping remains the most stable and growing category, with growth of +32.22% by 2024 and +75.4% by 2023. This reflects the continued interest in Thailand as a destination for personal use of real estate, especially among those who plan to spend the winter or come regularly.

At the same time, interest in buying for investment purposes (vacation + rent) decreased by 4.94% compared to 2024, although it still shows an increase of +9.58% compared to 2023. This may indicate a partial reassessment of rental profitability or increased competition in the market.

The largest decrease was demonstrated by goals related to future relocation: separately, such motivation fell by 44.44% compared to 2024 and by 58.73% from 2023. The combined goal of rent + relocation also proved unstable: although it increased by 16.67% compared to 2024, the drop was a sharp 69.05% compared to 2023.

Interest in buying for the purpose of obtaining a residence permit or citizenship has decreased particularly strongly — by 61.11% by 2024 and by 72.49% by 2023. This may be due to the lack of direct citizenship-by-investment programs in Thailand and the increasing complexity of visa legislation.

Russians’ demand for buying real estate in Thailand for vacation and rental, 1st quarter 2025 / 1st quarter 2024 / 1st quarter 2023

Tranio data for 2023-2025

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