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Russian buyers claim second spot in Thailand's condo market — newspaper

According to the media, foreigners targeted real estate in Bangkok and in the resort provinces of Chon Buri and Phuket

BANGKOK, December 15. /TASS/. Russians rank second among foreign buyers of apartments and condominiums in Thailand with 962 transactions made over the year, the Bangkok Post newspaper reports.

According to the Thai Real Estate Information Center, 10,700 real estate properties worth 52.3 mln baht ($1.5 bln) were sold in the Kingdom from January to September, up 38% year on year. Chinese buyers purchased almost 5,000 residential units, making up around 47% of all transactions for a total of 24.7 bln baht ($710 mln). Foreigners targeted real estate in Bangkok and in the resort provinces of Chon Buri and Phuket, the newspaper said.

"Thai condominiums are still in demand among foreign buyers," said acting director at the information center Wichai Wiratkaphan, cited by the newspaper. "The purchase is for both investment and as a second home," he added.

Russians can visit Thailand without a visa for a period of up to ninety days, a program which started on November 1 of this year.

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