West No Longer Best For Condos

Reading recent research by leading Thai listed developer Raimon Land on the state of the condominium market points to some significant changes in buyer demographics.
While Thai domestic buyers still add fuel to the fire as the broader market continues to soar in Bangkok, overseas composition has slid away from Western purchasers. The new face of foreign demand for now looks to have an Asian address and passport.
Raimon's findings on the resort market of Pattaya highlight trends toward emerging Indian and Chinese buyer and greater velocity on lower priced products under THB5 million located within interior areas. As seen widely across the country the small economical Mickey Mouse flats are seeing the greatest transaction activity.