Russians bought THB1.78 billion in value, up nearly 50% year-on-year, according to data by the Real Estate Information Center (REIC), as cited by Thai housing news platform What advice.
This rise to second place occurred as demand from China, the traditional top market, experienced a significant decline of 36.1%.
The growth in Russian investment is a key driver for the property markets in Chon Buri and Phuket, where the value of their purchases grew by 57.3% and 80.3% respectively, according to The Nation.
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Several high-rise condominiums are under construction in Bangkok. Photo by Bangkok Post via AFP |
The Real Estate Information Center (REIC) reported that 3,085 condo units changed hands in transfers to foreign buyers nationwide in the third quarter of 2026, down 19.7%.
The combined value of those transfers fell 7.6% to THB14.206 billion. In the first nine months the figure fell 3.7% to THB42.473 billion.
Foreign demand for condominiums in Thailand remained under pressure in the first nine months of 2026, with ownership transfers to foreign buyers falling 12.7%.
Transfer values fell less sharply than unit counts, and the figures show foreign demand has yet to recover fully. Shifts in buying patterns across nationalities point to a more diversified market.
Some other foreigner groups also posted notable growth. The value of transfers to Indian buyers climbed 66.6%. Transfer values also rose 34.6% for buyers from the U.K., 30.4% for those from the U.S. and 2.9% for those from Germany. Bucking the trend, the value of transfers to Taiwanese buyers fell 50.5%.