Condo ownership by foreigners revealed: China tops, UK in third

[webfact]

file photo for reference only

 

Channel 7 reported on the figures for purchase of real estate (mostly in the condo market) over the last three years.

 

From 2018 to 2020 this comprised 34,653 units amounting to 1.4 million square meters worth 145 billion baht. 

 

In the first half of 2021 20 billion baht's worth was sold amounting to 200,000 to 300,000 square meters of floor space. 

 

Bangkok and surrounding areas did best.

 

The rental market (houses and condos) was worth 5 billion baht with units rented.

 

Top five for real estate ownership were the Chinese with 20,796 units, 2,007 Russian, 1,113 UK, 1,110 French and 825 Japanese. 

 

Moves are currently afoot to change rules regarding condo and land ownership to attract up to a million new foreign investors in the next five years.

 

These measures have been widely reported on ASEAN NOW and can be found in the following links. 

 

https://aseannow.com/topic/1232332-easing-of-property-laws-for-foreigners-should-not-price-thais-out-of-the-market/

 

https://aseannow.com/topic/1224370-thailand-proposes-10-year-visas-and-land-ownership-for-foreigners-again/

 

-- © Copyright  ASEAN NOW 2021-10-08

 

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[Enzian]

Americans not even in the top five, and for sure I won't ever be helping bump up that standing one bit.

 

China delenda est.

[relax33]

know why people r constantly saying the Chinese go on zero baht tours in TL n zero dong tours in VN now, cos they spent all their $ buying condos  ...   ha

[hioctane]

Wow. The Chinese own 10x the second closest!

[Peterw42]

This cant be correct, a guy in a bar told me Chinese dont spend money or buy anything !!!!

[tomyami]

evergrande thai style

[RafPinto]

Would be nice to see a survey on farang "home ownership in girlfriends name"

[nobodysfriend]

4 minutes ago, RafPinto said:

Would be nice to see a survey on farang "home ownership in girlfriends name"

or wife's name ... but anyway , if so many chinese invest in thai RS , that means that they think in the future they will be able to rent it out to fellow countrymen , or they just have ' dirty money to clean ...

[John Drake]

40 minutes ago, Enzian said:

Americans not even in the top five, and for sure I won't ever be helping bump up that standing one bit.

 

China delenda est.

Not much American information on this forum. Everything is slanted towards the UK. 

[phetphet]

35 minutes ago, hioctane said:

Wow. The Chinese own 10x the second closest!

And that's only the start of it.

 

A country of billions, with a middle class with disposable income, that want to get it out from under their controlling  government, and a neighbouring country on it's knees, with businesses and properties desperate for sale.

 

What could possibly happen?

 

 

[Henryford]

44 minutes ago, Peterw42 said:

This cant be correct, a guy in a bar told me Chinese dont spend money or buy anything !!!!

These are just the rich Chinese moving their money off shore. I doubt they spend much in the local bar or restaurant.

[ThailandRyan]

5 minutes ago, phetphet said:

And that's only the start of it.

 

A country of billions, with a middle class with disposable income, that want to get it out from under their controlling  government, and a neighbouring country on it's knees, with businesses and properties desperate for sale.

 

What could possibly happen?

 

 

Wonder how much of the money used to buy the condos here by Chinese folks is dirty money from Ill gotten gains, scams, or from government stooges.  

[jacko45k]

52 minutes ago, Peterw42 said:

This cant be correct, a guy in a bar told me Chinese dont spend money or buy anything !!!!

Not in his bar they don't.

[MarcelV]

9 minutes ago, Henryford said:

These are just the rich Chinese moving their money off shore. I doubt they spend much in the local bar or restaurant.

True. The Chinese don't live here or spend a single penny in bars or on Isaan girlfriends' properties. They just stall their yuan renminbi in Thai property. Many of them don't even visit Thailand and get all paperwork done remotely. Thailand makes no money on these investors.

[RafPinto]

I think the Thai real estate business over estimated the "Chinese future buyers".

 

 

Look in what mess Chinese real estate is:

Evergrande in deep trouble and now joined by "Fantasia Properties".

 

China will control the money, leaving the country.

China is already closing down on Bitcoin and co.

 

I guess it will be very difficult to get money out of China.

 

Thailand still building like there is no tomorrow, hoping the Chinese will buy everything.

Good luck with that.

 

Next thing is: Thailand also heavy involved in Crypto. Once the big boss from China orders Thailand to put a stop to it, Thai leaders will follow their masters.

[Dogmatix]

The Chinese mindset over the last 20 years is to invest their cash in condos.  Those who needed mortgages obviously bought at home.  Thailand has been a great place for them to park money earned in the black economy.

[Cherrytreeview]

2 hours ago, relax33 said:

know why people r constantly saying the Chinese go on zero baht tours in TL n zero dong tours in VN now, cos they spent all their $ buying condos  ...   ha

Buy 1 sleep 20.

Becomes cheap then.

Very smart the Chinese.

 

[steevjee]

NOTE:

The Japanese are the largest group of expats in Thailand but only own 800 odd condos compared to the Chinese owning 20,000 odd and the Russians with 2000 odd.

 

I would always trust a Japanese business mind and without pointing any fingers there are 2 very corrupt nations in the top 5 list ;)

[The Cipher]

2 hours ago, Boarn said:

Quite sickening that Chinese are allowed to buy, no place for them here with the current government they have. If there were this many Chinese here when I moved in good faith in 2005, I wouldn't have moved. Good faith counts for nothing in Thailand.

Lol. And what exactly did Thailand owe you when you moved here? And I mean, if it's that bad now I guess you could relocate?

 

2 hours ago, Boarn said:

it's a toss of a coin as to who will live next door, these numbers don't put odds in your favor.

Also, you might want to consider judging people by something other than their race and other immutable characteristics. Otherwise you might find that the person that folks don't want next door to them is actually you ????.

[BritManToo]

9 minutes ago, The Cipher said:

Also, you might want to consider judging people by something other than their race and other immutable characteristics. Otherwise you might find that the person that folks don't want next door to them is actually you

I thought the whole idea of a condo was to ignore everyone living in the boxes around you. 

Don't care who's next door to me, I don't interact with those outside my immediate family.

Same as the Thais.

[Emdog]

This only covers the last three years. Is there no way of knowing total numbers of foreign owned condos (and houses) by nationality?

[Bezdomny]

 

3 hours ago, RafPinto said:

Would be nice to see a survey on farang "home ownership in girlfriends name"

They beat the Chinese, they just don't admit. ????

 

[Boarn]

34 minutes ago, The Cipher said:

Lol. And what exactly did Thailand owe you when you moved here? And I mean, if it's that bad now I guess you could relocate?

 

Also, you might want to consider judging people by something other than their race and other immutable characteristics. Otherwise you might find that the person that folks don't want next door to them is actually you ????.

Well in my opinion Thailand owes me the Thailand I moved to ????

 

Joking aside this has absolutely nothing to do with race, it's down to behavior, noise made, cleanliness and regard for people in your vicinity.

 

No issue whatsoever with people from Hong Kong, Taiwan or people of Chinese descent not from mainland China, they behave in very different ways. Only talking based on experience, it's sad I know but I suppose their government is to blame for allowing their citizens to be so uncouth and unsophisticated.

 

Yes, maybe people wouldn't want to live next to me, however I never spit in the corridor, scream at ungodly hours of the night, shut at my partner instead of talking, smoke in the elevator, push and shove to get to the food and the list goes on.

[khunPer]

So every time one Brit, or one Frenchman, buys a condo almost 20 Chinese have also bought one...

[EricTh]

I see more Americans than British or Russians in Thailand, why aren't they in the top 5?

[Chiang Mai Will]

3 hours ago, RafPinto said:

Would be nice to see a survey on farang "home ownership in girlfriends name"

If a property is not in your name it's not yours -- it means it's owned by a Thai!

[Mac Mickmanus]

Just now, EricTh said:

I see more Americans than British or Russians in Thailand, why aren't they in the top 5?

Because these figures are for the whole of Thailand , rather than being figures of what you have seen .

[mokwit]

2 hours ago, ThailandRyan said:

Wonder how much of the money used to buy the condos here by Chinese folks is dirty money from Ill gotten gains, scams, or from government stooges.  

That's what pisses me off about the UK property market - I can be outbid by someone who makes money in a way forbidden to me - like the Chinese factory owner who can afford to outbid me because he is polluting rivers etc

[khunPer]

17 minutes ago, EricTh said:

I see more Americans than British or Russians in Thailand, why aren't they in the top 5?

The stat is for first half of 2021, when did the Americans you see buy their condo...

[4MyEgo]

4 hours ago, webfact said:

Top five for real estate ownership were the Chinese with 20,796 units

Yeh, they would be lucky now to get 10% of the above purchases from now on with China stopping money leaving the country with that huge developer Evergrande about to go bust, going, going, going.....which will eventually end up with the domino effect, I would presume. 

 

From a news post in September: 

 

Thailand’s former finance minister and Kla Party Leader Korn Chatikavanij has strongly advised the Thai government to take precautionary steps to protect against any fallout from China’s Evergrande crisis.