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

[JamieM]

8 hours ago, jomtienisgood said:

Maybe a better one than just learning Thai......

Well if he's teaching his kids to follow the money they would be better off learning English properly the average household income in China is $10,000 vs $84,000 in USA. 

[JamieM]

3 minutes ago, kynikoi said:

But by law cannot send serious amounts of money abroad.

50k per year to be precise hardly the biggest players. More like minnows. 

 

Western retirees pensions put more money per year into Thailand than that.

[hwt]

2 hours ago, JamieM said:

 

Well Chinese law means they can only transfer $50,000 a year out of China (to any other country) any more than that is illegal so anyone transferring more than that (for buying a condo or any other reason) is a criminal according to Beijing and the only way to move it is by illegal means.

 

That's why this story doesn't make sense unless they are planning to lure Chinese criminals into Thailand.

 

50000 USD is 1.5m THB.  The restriction is for 1 calendar year.  Transfer 1.5m THB in December, and another 1.5 m THB in January.  This is already 3m THB, enough for many Thai apartments.  Is there anything illegal? ????

Besides, buying an apartment under construction does not need the full amount to be paid in one go, I believe.  If it takes three years to build, then three transfers can send 4.5 m THB.

And then, there is a choice of multiple people doing transfers.....  Ask a parent to transfer 1.5m, self 1.5m, relative 1.5m, in December and January.  That is 9m THB already.

Edited June 19, 2021 by hwt

[Ron jeremy]

2 hours ago, kynikoi said:

But by law cannot send serious amounts of money abroad. So the scheme is built on gray money to start.

 

They will marry, get citizenship. I guarantee it.

Thailand is nothing but a big washing machine, it’s not just condos, it’s bars businesses etcetc

[JamieM]

34 minutes ago, hwt said:

This is already 3m THB, enough for many Thai apartments.  Is there anything illegal? ????

So what money will they live on for the year? air? come on be serious your suggestion is not practical as it does not take into account living expenses bills, the cost of a car, immigration requirements etc etc 

 

Also would be interested if you could show me a high quality condo in Bangkok for 3 million they are like unicorns.

(meaning they don't exist)

[JamieM]

38 minutes ago, hwt said:

Ask a parent to transfer 1.5m, self 1.5m, relative 1.5m, in December and January.  That is 9m THB already.

Or more likely the local criminal triad gang member ????

[humbug]

buy buy article, invest in property look at all the chinese buyers, goldentimes, every one's a winner

 

like some have mentioned the numbers are just over exagerrated, 700k ownership, maybe 70k ownership, and not all chinese are paying in cash, many have loans organised with thai property companies and the chinese banks, I would bet that the chinese banks have quite a few condos and businesses they are looking to sell, as some chinese just gave up or no longer afford the payments or businesses going bust, there is no real journalism in the article, just a way to suck in more money, whatever story it takes to succeed

[hwt]

1 hour ago, JamieM said:

So what money will they live on for the year? air? come on be serious your suggestion is not practical as it does not take into account living expenses bills, the cost of a car, immigration requirements etc etc 

 

Also would be interested if you could show me a high quality condo in Bangkok for 3 million they are like unicorns.

(meaning they don't exist)

 

I quoted the abandoned Posh 12 condo project in another post earlier today.  You can look for it on Google, and take a look at its StreetView.  The banner on its front wall clearly says starting price was 1.89m THB.

 

A lot of Chinese buyers do not stay in Thailand.  They buy apartments/condos like they do in China - leaving them empty.

 

The old ones may stay long, but at 5000 CNY of monthly expenses per person (actually lower, as 5000 includes house rental), one person spends only 10k USD a year in Thailand.  This is not a fictitious number.  It is very close to the numbers quoted by Chinese in YouTube videos filmed in Thailand.  My planned monthly budget (excluding house rental) in Thailand is equivalent to about 3200 CNY, or 6k USD a year, so the number is realistic.

 

The young ones, you keep hearing those interested in going to Thailand asking, how to earn income.  Obviously, they are going to derive their income from within Thailand, often from Chinese tourists.

 

How much do Chinese residents spend in Thailand every month?  From information collected the past few months, usually 3000 CNY (500 USD) to 5000 CNY (800 USD).  There is one rich (generally agreed) person claiming she spends 30000 CNY (5000 USD) a month, but this is rare, and this person runs businesses in Thailand.  Even this very high monthly expense gives rise to only 60k USD a year, slightly more than the 50k USD annual limit.  Probably 95 percent spend much less than this.  Well, they have to spend much less.  How many Chinese families in China earn 5000 USD a month?  Those who do are most likely high middle income families, who are paying $$$$$$ for their 3 or 4 million CNY Chinese apartment, and so are unable to spend 5000 USD a month elsewhere, unless they got rich through the old houses in major Chinese cities.

 

As for quality, 3 or 4 million CNY Chinese apartments where rich Chinese live in are not very different from normal Thai apartments.  You can expect normal Chinese who are not so rich to find 2-3 million THB studios very acceptable in terms of quality.

Edited June 19, 2021 by hwt

[humbug]

On 6/18/2021 at 2:52 PM, phetphet said:

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. 

that be the plan under the guise of the chinese, whoops thai national 20 year

strategy, every country signed up to beijing has a 20 or 25 year strategy,

 

malaysia uncovered a similar plan called 'Forest City', where up to 500,000 buyers would be only chinese and over the 20 year national strategy, in secret the legal status of the chinese buyers would be slowly altered, until 20 years later, they all

 would become malaysian citizens,

the new malaysian government, uncovered the plan from the previous government, and scrapped it immediately,

 

so yes, it could happen here, sri lanka, cambodia, pakistan, laos, anywhere that the gangster greedy regimes have signed, their country away under the guise of the belt and road, which in reality is Beijing acting like Brussels but in far more centralised control a bit like EU on steroids, all to favour Han chinese

[humbug]

15 minutes ago, hwt said:

 

I quoted the abandoned Posh 12 condo project in another post earlier today.  You can look for it on Google, and take a look at its StreetView.  The banner on its front wall clearly says starting price was 1.89m THB.

 

A lot of Chinese buyers do not stay in Thailand.  They buy apartments/condos like they do in China - leaving them empty.

 

The old ones may stay long, but at 5000 CNY of monthly expenses per person (actually lower, as 5000 includes house rental), one person spends only 10k USD a year in Thailand.  This is not a fictitious number.  It is very close to the numbers quoted by Chinese in YouTube videos filmed in Thailand.  My planned monthly budget (excluding house rental) in Thailand is equivalent to about 3200 CNY, or 6k USD a year, so the number is realistic.

 

The young ones, you keep hearing those interested in going to Thailand asking, how to earn income.  Obviously, they are going to derive their income from within Thailand, often from Chinese tourists.

 

How much do Chinese residents spend in Thailand every month?  From information collected the past few months, usually 3000 CNY (500 USD) to 5000 CNY (800 USD).  There is one rich (generally agreed) person claiming she spends 30000 CNY (5000 USD) a month, but this is rare, and this person runs businesses in Thailand.  Even this very high monthly expense gives rise to only 60k USD a year, slightly more than the 50k USD annual limit.  Probably 95 percent spend much less than this.  Well, they have to spend much less.  How many Chinese families in China earn 5000 USD a month?  Those who do are most likely high middle income families, who are paying $$$$$$ for their 3 or 4 million CNY Chinese apartment, and so are unable to spend 5000 USD a month elsewhere, unless they got rich through the old houses in major Chinese cities.

 

As for quality, 3 or 4 million CNY Chinese apartments where rich Chinese live in are not very different from normal Thai apartments.  You can expect normal Chinese who are not so rich to find 2-3 million THB studios very acceptable in terms of quality.

don't forget those who left Hong Kong, they would be classed as chinese but really would want nothing to do with the communist control freaks, then there are those han chinese who take out loans with chinese banks and thai property companies, then the new EU supremo, I mean Beijing supremo, will have to work a way to improve immigration laws for their citizens, and makes sure they have superior rules compared to everyone else, they did the same here, 150

years ago, and look at the influence the chinese have now, another round of a new generation of immigrants, would just seal it for Beijing's control over these lands

[hwt]

34 minutes ago, humbug said:

malaysia uncovered a similar plan called 'Forest City', where up to 500,000 buyers would be only chinese and over the 20 year national strategy, in secret the legal status of the chinese buyers would be slowly altered, until 20 years later, they all

 would become malaysian citizens,

the new malaysian government, uncovered the plan from the previous government, and scrapped it immediately

 

Well, I am just about 30 minutes of drive from that Forest City......

 

No, most of them have little interest in becoming Malaysians.  What can they gain by becoming citizens?  This is not Kuala Lumpur or Singapore.  This place may rank high in income level in Malaysia, but it is mostly due to income brought in by Malaysians who travel to Singapore everyday to work.  Foreigners who cannot speak Malay have little space here.  They only work in a small number of industries, mainly education, and factories or transport companies that require foreign talent.  Chinese are not perceived to be good in these areas, in this place.  So, they being employed for these jobs is rare.  Their businesses do not flourish either, as only a small number of hardcore China supporters would go to such shops (Chinese do not sell things cheap).  They rely mainly on businesses from other Chinese who come with them.

 

Chinese go to Malaysia mainly for the same reason they go to Thailand - to relax in a cheaper place, and to allow their kids to get to western countries through international schools in these places.

 

Uncovered?  Mahathir has a very clear agenda - making sure Chinese in the country are not richer than others........ ????  He does not want more expensive houses to be owned by Chinese.  For a few decades, he had been trying to bring income equality among races in the country.  He had achieved that quite well in Putrajaya.  Elsewhere, he made progress.  He had been very particular about most shops being Chinese owned (local Chinese), and had tried hard to end this.  How could he allow a place with expensive apartments to be mostly owned by Chinese who suddenly appeared from nowhere......?

Edited June 19, 2021 by hwt

[Salerno]

13 minutes ago, hwt said:

No, most of them have little interest in becoming Malaysians.

 

How do you know this?

 

13 minutes ago, hwt said:

What can they gain by becoming citizens?

 

A refuge if things go wrong in China ... or a base from which to promote China.

[humbug]

11 minutes ago, hwt said:

 

Well, I am just about 30 minutes of drive from that Forest City......

 

No, most of them have little interest in becoming Malaysians.  What can they gain by becoming citizens?  This is not Kuala Lumpur or Singapore.  This place may rank high in income level in Malaysia, but it is mostly due to income brought in by Malaysians who travel to Singapore everyday to work.  Foreigners who cannot speak Malay have little space here.  They only work in a small number of industries, mainly education, and factories or transport companies that require foreign talent.  Chinese are not perceived to be good in these areas, in this place.  So, they being employed for these jobs is rare.

 

Chinese go to Malaysia mainly for the same reason they go to Thailand - to relax in a cheaper place, and to allow their kids to get to western countries through international schools in these places.

 

Uncovered?  Mahathir has a very clear agenda - making sure Chinese in the country are not richer than others........ ????  He does not want more expensive houses to be owned by Chinese.  For a few decades, he had been trying to bring income equality among races in the country.  He had achieved that quite well in Putrajaya.  Elsewhere, he made progress.  He had been very particular about most shops being Chinese owned (local Chinese), and had tried hard to end this.  How could he allow a place with expensive apartments to be mostly owned by Chinese who suddenly appeared from nowhere......?

sorry you didn't read what I wrote, it was a plan that was uncovered by the government,  initiated by the previous corrupted government who signed many a belt and road deal with creepy Beijing , it was scrapped immediately, good for Malaysia,

 

it wasn't a overly promoted media story to the changing of their legal

status at 'Forest City', but it was made public enough for someone like me to turn my antennas onto flashing red lights, it happened and was uncovered and scrapped, the nobody wants to live in Malaysia whose Chinese is odd, quite a few malaysians are chinese origin, but as you seem to have taken the role of chief investment promotion officer of the Chinese Malaysian relations bureau, then I am sure you will know best, all hail Chairman Xi and his band of creepy weirdos

[Pee Wee]

There are facilitators in China that establish hundreds of shelf companies. For % fee they will move any number of 50k tranches. Then of course there is crypto.

[rudi49jr]

Why do rich people always get the breaks? I mean, they are already rich, they don’t need it. And they probably got rich by getting breaks. Why not make it easier for the average Joe to come and live in Thailand and buy a house or condo there? 

[humbug]

3 hours ago, Pee Wee said:

There are facilitators in China that establish hundreds of shelf companies. For % fee they will move any number of 50k tranches. Then of course there is crypto.

there will always be a way, but it's just not that easy, unless you can access Hong Kong accounts from the mainland as Hong Kong is on the swift, mainland china is not on swift,

 

but the other way is through loans, for condos or business by chinese banks connected with thai property companies, that's also a way many can purchase, but not 700k properties, If that were the case, there would be 1.4 million condos owned by foreigners in Bangkok, and how many more millions owned by thais, the figures are ten fold incorrect

[jomtienisgood]

1 hour ago, rudi49jr said:

Why do rich people always get the breaks? I mean, they are already rich, they don’t need it. And they probably got rich by getting breaks. Why not make it easier for the average Joe to come and live in Thailand and buy a house or condo there? 

Because that's the way the world turns. The rich getting richer and the poor getting poorer...

[Kinnock]

On 6/18/2021 at 11:25 AM, VocalNeal said:

 

Doesn't mean the Chinese live there?

Well ..... not the Chinese owners, but there's a very high probability the 'tenants' will be Chinese, and nobody wants Chinese neighbours, especially other Chinese people who headed to Thailand to get away from the noise.

[jomtienisgood]

9 minutes ago, Kinnock said:

Well ..... not the Chinese owners, but there's a very high probability the 'tenants' will be Chinese, and nobody wants Chinese neighbours, especially other Chinese people who headed to Thailand to get away from the noise.

Did Confucius share all his wisdom with you?? 

[Heng]

2 hours ago, rudi49jr said:

Why do rich people always get the breaks? I mean, they are already rich, they don’t need it. And they probably got rich by getting breaks. Why not make it easier for the average Joe to come and live in Thailand and buy a house or condo there? 

 

Or just make your own breaks.   We were all hunter gatherers at one point, some folks gathered their nuts and berries and invested them.   

[rudi49jr]

1 hour ago, jomtienisgood said:

Because that's the way the world turns. The rich getting richer and the poor getting poorer...

 

Some day soon the poor may decide to start banging down the doors of the rich to go and get some of that money for themselves. It is just vulgar and beyond obscene that the eight richest people in the world are as wealthy as the poorest 50% of the world population combined.

[zenplay]

What is the source of these numbers ?

[AnnieSeek]

The mass build of condominiums in Bangkok has wrecked the unique vibe of the city - great unique soi's destroyed to make way for souless condos. Chinese to blame again. 

[metisdead]

Off topic posts and replies about "Forest City" in Malaysia have been removed. 

[jomtienisgood]

10 hours ago, AnnieSeek said:

The mass build of condominiums in Bangkok has wrecked the unique vibe of the city - great unique soi's destroyed to make way for souless condos. Chinese to blame again. 

Are you referring to Washington Square?

[NB1986]

On 6/18/2021 at 5:14 AM, 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.

I agree, Russians also the same...