Top ten nations for condo ownership in Thailand revealed - Chinese make up over half, Brits in fourth

[Excel]

3 hours ago, John Drake said:

So there you go, guys. Buy a condo and the odds are almost a certainty you will have Chinese neighbors. Some people are going to have problems dealing with that.

Not if they are like some of the Chines girls on TikTok they won't ????

[condobrit001]

3 hours ago, John Drake said:

So there you go, guys. Buy a condo and the odds are almost a certainty you will have Chinese neighbors. Some people are going to have problems dealing with that.

It's actually worse than that. Foreigners can only buy 49% of any condo devolopment. So, on average, each building will be 75% Thai/Chinese owned. There goes the quiet retirement!

[Inala]

1 hour ago, Fex Bluse said:

No surprise. China and Russia 

 

Capital controls evasion 

Money laundering 

Other crime

 

It was always obvious. Thailand does not care where the money comes from. 

 

Such a high level of ownership by residents of a country that is openly seeking regional hegemony even by using via war if deemed necessary, is of major concern.

[condobrit001]

What has Chinese food to do with condo ownership? Off topic  replies should be moved to the appropriate forum.

[Fex Bluse]

40 minutes ago, sanuk711 said:

Like all the other countries really do care  Fex??

 

Chinese--They are the biggest real estate buyers "World wide" not just Thailand. In fact more funds would have gone into Oz, America, EU  etc then into Thailand-- Last time I was there between the Arabs & the Chinese they had nearly brought out London.

 

The Buffer the Thai's have is that they can only buy Condo's here not like in Oz etc where they buy up the farms etc as well.

 

This is a logical fallacy. Of course they are buying property with illicit money. However, to think that all countries are equally happy with illicit money flowing into their systems is not accurate, in my opinion. Law enforcement is not exactly the same in every country. 

 

That said, Vancouver is one of the worst international hot spots for Chinese illicit money.. The Canadian government, however, is not openly facilitating it, however. Very different from a country performs no checks at all and also knows it's happening but does nothing.

 

Have you EVER heard of a big bust in Thailand? No, of course not. There are plenty in other countries like the US, UK, Canada, etc.

 

 

Edited June 18, 2021 by Fex Bluse

[Heng]

3 hours ago, mtls2005 said:

I though it was hard for Chinese citizens to move cash outside of the country.

 

 

It is, but it's not like they're going to just shrug their shoulders and not find a way.  

[sanuk711]

3 minutes ago, Fex Bluse said:

Have you EVER heard of a big bust in Thailand? No, of course not. There are plenty in other countries like the US, UK, Canada, etc.

When we are talking about Money Laundering Fex--the difficulty in Thailand is that recipients find hard to repatriate the money. We have all brought Condos or houses over the years but, If I wished to take that money back out of the country--I would need to show a POT (Proof of Transfer) showing that I brought the money in legally.

[phetphet]

Actually, a million Chinese buyers would just be a drop in the ocean for the numbers that probably want to get out of China and take their money with them.

 

Great for Air bNb, but not so great for the Thai hotels, who will soon be bleating that they are being undercut.

 

I imagine there are large numbers of cash rich Chinese eagerly waiting to swoop in and buy desperate or failed businesses here for peanuts. Properties also. 

[NemoH]

Its a dream and self denial... no more buyers due to the asset inflation, currency control and economic downturn.

[bluedoc]

5 hours ago, webfact said:

Far out in front at the top of the list was the Chinese who represent 51.8 percent of all foreign condo owners with 729,972 properties.

Most from Wuhan.

[Millcx]

5 hours ago, Excel said:

Strange no reference to anything to support those claims or numbers, but then TIT so any numbers should be treated with a high level of caution and doubt.

Best way for them to try and attract the Chinese to bring buckets and spades for living in the tagged up sandpit or box thing… TBH I reckon 2% are Chinese Owners but TAT will have them at 51

[jacob29]

3 hours ago, Sir Dude said:

As for any other land/house purchase on this front, if I can't actually own something and decide its fate once I'm gone, then what's the point?

If they permitted foreign ownership, how are you going to outbid foreign investment grade buyers (similar to what happened in Canada)? The wishful thinkers on here seem to think they will still only be competing with Thais on price to buy up some reasonably priced property. When in reality many would be priced out of buying, except now face higher rents. Great outcome.

[jomtienisgood]

5 hours ago, John Drake said:

So there you go, guys. Buy a condo and the odds are almost a certainty you will have Chinese neighbors. Some people are going to have problems dealing with that.

Don't forget that on top of that you get a free Sinovac shot... 55555

[arick]

With so many companies going bankrupt and running away with the money... 

[bradiston]

34 minutes ago, bluedoc said:

Most from Wuhan.

Is that a fact?

[Myran]

6 hours ago, RotBenz8888 said:

Hell, why not make it a zillion? 

If they get South America on the hook we might even be looking at investments in the brazillions.

[Mywayboy]

6 hours ago, Excel said:

Strange no reference to anything to support those claims or numbers, but then TIT so any numbers should be treated with a high level of caution and doubt.

Whatever figure they dream overnight comes into the minute brain in the morning when their eyes open.

555555

[BernieOnTour]

... besides being astonished that the Russians have only a 5.4% share in condo ownership ...

 

These numbers have absolutely zero relevance for their new „much awaited plan“ selling new property :

 

- the market is totally different after Covid

- the statistics are about ownership in the last 3 years, therefore made under the impression of different immigration rules, global tourism and economic conditions 

- not taking into account, their target group of „well-heeled professionals in 4 groups“ might have totally different considerations and motivations 

 

... one could even assume, these old condo owner groups are already covered and will less likely buy new property ...

 

In essence:

The developers‘ version of TAT‘s wet dreams !

[hotchilli]

6 hours ago, webfact said:

Far out in front at the top of the list was the Chinese who represent 51.8 percent of all foreign condo owners with 729,972 properties. 

 

In second were Russians with 76,624 (5.4%), French with 57,541 (4.1%) UK (though they used the flag of England) with 56,337 (4%).

Some countries call it money laundering.

Others see it as welcome investment.

[DavisH]

6 hours ago, John Drake said:

So there you go, guys. Buy a condo and the odds are almost a certainty you will have Chinese neighbors. Some people are going to have problems dealing with that.

How many of those Chinese actually live in Thailand? I bet they are investment properties.

[AJR3RD]

Alas, these are not the operative figures. What matters is the "percentage of units occupied." Which I'm guessing is probably very close to the chances of my getting hooked up with Margot Robbie.

[Eric Loh]

4 minutes ago, DavisH said:

How many of those Chinese actually live in Thailand? I bet they are investment properties.

ROI is the reason as to why the Chinese buy properties overseas. Other reasons are price difference, change in environment and social status. Rental yields in developing give better yields than ones in developed countries as properties are relatively cheap. Prices in China have significantly risen since early 2000 and middle class earners no longer can afford homes in major cities. Also in China, most lands are owned by state and rights to use a land is only 70 years for residential purposes. The Chinese will continue to gobble up properties in Thailand, Malaysia, Phillipines and Australia

[Benmart]

Lies often results in meaningless and miopic debate.

[JamieM]

4 hours ago, CALSinCM said:

If I had kids they'd be learning Mandarin. Follow the money.

What great morals you are teaching your children. I wonder what kind of job your daughter might end up in if this is what you teach her? ????‍♂️

[metisdead]

Off topic posts and replies about Chinese food and IP theft have been removed.

[sawadee1947]

8 hours ago, holy cow cm said:

That is so overkill being at 9.5 times higher than any other country.

 

Potential buyers should need to be aware that if they do buy during a quiet time and all is wonderful, that once tourism opens back up they might just find themselves overwhelmed by busloads of people from one country being brought in using the joined bought units like a hotel. I have nothing against a single buyer renting out their unit for say like Airbnb or something similar, but the line should be drawn at tour groups being bussed in.

 

Besides seeing it in CM just while passing or the so many time when people from the USA would visit me and rent online units, once upon a time years ago my daughter was reception at a condo building near a popular mall. She can speak and write the language and even she would come back with stories of the noise and OMG. Officials just took a blind eye and deaf ear on it. So if their plan does work, it will probably fall back into investment groups being the major investors and not probably not single people on their own. 

 

Chinese 729,972 (51.8%)

Russians with 76,624 (5.4%)

French with 57,541 (4.1%)

UK 56,337 (4%).

USA 41,767 

Germany, Japan, India, Taiwan and Australia. Aprox 30,000 each

Some years ago I was looking for a Condo in CM. Lot of occasions. Breathtaking views from the balcony. 

Finally I bought a house. 

Why? 

My wife checked out the offered condos and were contacting people living there. 

Many owners were trying to sell because they were fed up with the noise of partying loud Russians or noisy Chinese cooking with open doors. 

So to buy a condo as a retiree is a risky thing if you're hoping to find peace and harmony. ????????

[lks7689]

6 hours ago, Fex Bluse said:

No surprise. China and Russia 

 

Capital controls evasion 

Money laundering 

Other crime

 

It was always obvious. Thailand does not care where the money comes from. 

If there's a time where Thailand is attracting angels, you will definitely be nowhere near too. 

[PB172111]

9 hours ago, Excel said:

Strange no reference to anything to support those claims or numbers, but then TIT so any numbers should be treated with a high level of caution and doubt.

Stands to reason that the Chinese are in the top spot.

[bangon04]

3 hours ago, jacob29 said:

If they permitted foreign ownership, how are you going to outbid foreign investment grade buyers (similar to what happened in Canada)? The wishful thinkers on here seem to think they will still only be competing with Thais on price to buy up some reasonably priced property. When in reality many would be priced out of buying, except now face higher rents. Great outcome.

Anecdotally, it does seem that our Chinese cousins have a relatively easy time proving their right to buy property in Thailand already, compared to the dirty Farang.

[newnative]

8 hours ago, John Drake said:

So there you go, guys. Buy a condo and the odds are almost a certainty you will have Chinese neighbors. Some people are going to have problems dealing with that.

Not me.