Chinese Buyers Bring Back Hope for Thailand’s Condominium Market

[snoop1130]

PHOTO: MGR Online

 

The reopening of China to international travel for the first time in three years following the announcement to lift the stringent COVID-19 lockdown measures from January 8th onwards has garnered significant attention globally, including in Thailand.

 

The Thai tourism and real estate industries are eagerly hoping that the return of Chinese travelers will revive the battered market conditions instantly, as some expect that more than five million Chinese will flood into the country throughout 2023.

 

In particular, the condominium market is expected to see better activity than the high-end housing market, as laws allowing foreign ownership of up to 49% of condominium units have helped boost the market.

 

Full Story: https://thepattayanews.com/2023/01/04/chinese-buyers-bring-back-hope-for-thailands-condominium-market/

 

-- © Copyright The Pattaya News 2023-01-04

 

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[aussienam]

Time for money laundering on steroids to return!!!  

[Will B Good]

Chinese Buyers Bring Back Hope for Thailand’s Condominium Market...........not if you live in a condo they don't

[tomazbodner]

37 minutes ago, snoop1130 said:

The Thai tourism and real estate industries are eagerly hoping that the return of Chinese travelers will revive the battered market conditions instantly,

The second they land, they'll buy 10 condos each, or how should I read the above?

[Cricky]

58 minutes ago, snoop1130 said:

Chinese Buyers Bring Back Hope for Thailand’s Condominium Market

Yeah, right, bring back hope to those greedy property developers.

 

[Blumpie]

I'm not sure about that.  It sounds like China is hurting really bad right now.  They are having some serious growth issues.  Not to mention half of them don't even own a passport right now because the office was closed for 3 years.  

[ozimoron]

Between the Russians and Chinese I expect a renaissance in Pattaya condo prices and rents. I'm not happy.

Edited January 4, 2023 by ozimoron

[phetphet]

22 minutes ago, Blumpie said:

I'm not sure about that.  It sounds like China is hurting really bad right now.  They are having some serious growth issues.  Not to mention half of them don't even own a passport right now because the office was closed for 3 years.  

Maybe. But the sheer numbers mean there will always be plenty with money who want to get it out from under Xi's control.

Add in the criminal element as we have seen recently and you have a lot of money sloshing about, looking for a safe place outside China. Be it a condo or a business, 

[Blumpie]

40 minutes ago, phetphet said:

Maybe. But the sheer numbers mean there will always be plenty with money who want to get it out from under Xi's control.

Add in the criminal element as we have seen recently and you have a lot of money sloshing about, looking for a safe place outside China. Be it a condo or a business, 

I agree there is a sheer number from that gargantuan population that could go there.  I just openly wonder if they CAN get there.  

Time will tell - my opinion doesn't matter, what happens will happen.  

By the way, they will not live there full time, and I still fail to see how buying a condo would benefit anyone in their situation.  After all, if you're not Thai nobody is going to buy your condo unless you drop the price dramatically.  

[soi3eddie]

False hope! Hope is all the developers have in selling their overpriced shoe boxes. Doubt very much that there will be a mass purchasing spree by the Chinese with the state of their economy after the last 3 years. 

 

[BayArea]

all these articles in the past few weeks (tourism, real estate, etc.) would seem to indicate Thailand's economy greatly depends on China's reliance. 

[Soikhaonoiken]

And we will see all the Chinese gambling dens springing up, and the boys in brown confiscating all there assets and splitting them among themselves...

[mikebell]

15 hours ago, snoop1130 said:

In particular, the condominium market is expected to see better activity than the high-end housing market, as laws allowing foreign ownership of up to 49% of condominium units

So lets illustrate this story with a photo of a housing estate.

[Salerno]

8 minutes ago, mikebell said:

So lets illustrate this story with a photo of a housing estate.

It's the view from the balcony 

[nigelforbes]

6 hours ago, Soikhaonoiken said:

And we will see all the Chinese gambling dens springing up, and the boys in brown confiscating all there assets and splitting them among themselves...

Commonly known in economics as the wealth transfer trickle down principle. :))

[lujanit]

After purchasing a condo the Chinese owner will immediately list it on Airbnb.  There goes another neighbourhood.

[ezzra]

13 hours ago, ozimoron said:

Between the Russians and Chinese I expect a renaissance in Pattaya condo prices and rents. I'm not happy.

You would be if you're a property owner wanting to sell condos to the Chinees and Myanmar people that are also now a strong buyers of condos in Thailand i read in a local publication...

[Laughing Gravy]

19 hours ago, snoop1130 said:

The Thai tourism and real estate industries are eagerly hoping that the return of Chinese travelers will revive the battered market conditions instantly,

It was only recently the estate industries were saying how well the market was and property keeps going up. So now they are saying it is a battered market.

 

They are like the Chinese, they lie and lie even more.????

[ozimoron]

19 minutes ago, Laughing Gravy said:

It was only recently the estate industries were saying how well the market was and property keeps going up. So now they are saying it is a battered market.

 

They are like the Chinese, they lie and lie even more.????

You mean the Thai property market hasn't been battered these last couple of years?

[Laughing Gravy]

4 minutes ago, ozimoron said:

You mean the Thai property market hasn't been battered these last couple of years?

No, I mean the estate industries were saying how marvelous the industry has been the last few years. Now it is battered.

 

Of course it is battered, it means that they have been telling 'porkie pies' for the last few years then.

[tjo o tjim]

I don't get a Thai condo as a way to store assets outside of China.  They aren't really that liquid.  Sure, it is a good way to have a place outside of China's control (especially for Hong Kong people), at least to a degree-- but does that really do much?

 

As an "investment" renting it out it generally seems even worse, but if it is just for "walking around" money then I guess the rules are different.  The airbnb/zero dollar tourist market seems even harder to make work today.