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Simplifying the visa policy for tourists from China and India could lead to an increase in real estate sales in Thai condominiums.

The Real Estate Information Center (REIC) voiced its perspective on this matter. Factors such as the gradual economic recovery, rising interest rates, and the increasing household debt-to-GDP ratio have influenced demand and supply over the last two quarters, stated Vichai Viratkapan, the acting director of the center.

The head of the real estate consulting firm Property DNA asserts that there continues to be a high demand for real estate among foreigners, and this demand is likely to grow in the near future.

According to REIC data, approximately 7,338 condominium units worth 35.21 billion baht were purchased by foreigners in the first half of this year, marking a 65.6% and 57.8% increase compared to last year.

The highest number of units in the first six months of 2023 were acquired by Chinese buyers – 3,448 apartments worth 16.99 billion baht.

They are followed by Russians (702 units worth 2.55 billion baht), Americans (293 units worth 1.28 billion baht), the French (269 units worth 1.12 billion baht), and the British (260 units worth 1.28 billion baht).

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