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Chinese Look to Thai Property Market for Safe Investments Amid Uncertainty


snoop1130

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BANGKOK (NNT) - Chinese nationals have been seeking out property purchases in Thailand since Beijing opened its borders this year.

 

Many Chinese are reportedly eager to invest in a residence overseas, keen for a safety net in case of another pandemic, and also to hedge against economic risks.

 

Data from website Trip.com showed that Thailand was the most popular outbound destination for Chinese travelers during the May Labor Day holiday, followed by Japan and South Korea.

 

The kingdom’s reputable international schools and quality medical facilities are also drawing increasing numbers keen to acquire a second home.

 

Thailand expects at least 5 million Chinese visitors this year, with some set to buy property, although the figure is still a far cry from pre-pandemic levels when they made up nearly a third of the 40 million arrivals.

 

Mesak Chunharakchot, President of the Thai Real Estate Association, said: "There is definitely demand from China for properties in Thailand."

 

He added that topping buyers’ lists are locations in major cities such as the capital, Bangkok, along with Chiang Mai in the mountainous north, the east coast beach resort of Pattaya, and the northeastern region of Isan.

 

Although Thai rules limit foreign ownership to just 49% of the units in any condominium development, prospective buyers are pouring in, bringing business to real estate agents who target Chinese buyers.

 

Full Story: https://thainews.prd.go.th/en/news/detail/TCATG230508124043633

 

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-- © Copyright NNT 2023-05-08
 

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Chinese are buying everywhere they are permitted to. Cities like  London and Manchester have huge amounts of property now in Chinese hands. Even in small provincial English towns they are buying houses and flats to rent out. 

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7 minutes ago, stoner said:

richmond bc is pretty much chinese now. 

Yep. Been happening for decades in many places. Once the Chinese buy in that's pretty much it. They'll only sell to other Chinese. 

My brother's in BC right now. Heading to Emerald Lake from VC and then onto Salmon Arms. After Canada heading to Alaska. I'm so jealous. Beautiful part of the world from what I've seen about it.

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5 minutes ago, dinsdale said:

Yep. Been happening for decades in many places. Once the Chinese buy in that's pretty much it. They'll only sell to other Chinese. 

My brother's in BC right now. Heading to Emerald Lake from VC and then onto Salmon Arms. After Canada heading to Alaska. I'm so jealous. Beautiful part of the world from what I've seen about it.

bc is amazing and the further north you go the nicer it is. 

 

over half of richmond population is chinese and further 150k plus of the 200k residents are asian. 

 

 

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33 minutes ago, stoner said:

bc is amazing and the further north you go the nicer it is. 

 

over half of richmond population is chinese and further 150k plus of the 200k residents are asian. 

 

 

Off topic some what I know but I looked at Salmon Arms today stupidly thinking there would be plenty of places you could order a meal of salmon or even rainbow trout (rainbow trout one of my all time favourite fish) but so many restaurants there are asian. Funny how countries are pushing tradition with one hand and profit from 'diversity' with the other. I said when I was at uni 30 odd years ago that China (CCP) are the most dangerous lot of people on Earth. This was when I was doing Chinese politics. Needless to say I had a lot of oppostion but I think I was right then and I think I'm right now. Prayut has nothing on Xi but it's a matter of negative degrees. 

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1 hour ago, stoner said:

china is not looting africa ? you might want to do a little reading on that one. just like china isn't strangling south america too ? riiiiiiiiiight they are such wonderful people compared to the evil colonizers. 

 

looting and pillaging can come economically as well you know. 

 

might suit you better with a move to mainland china. 

So looting includes finally building roads, rail and hospitals for the African continent? You should know who has been looting in Africa, and strangling in South America...

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11 hours ago, dinsdale said:

Love to know what you mean here but I have an idea.

 

I'd be guessing that he is referring to the Chinese buying condos in Vancouver, driving the price up but leaving them empty. Then the condo unit falls into disrepair. But we'll see what he has to say.

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Just now, neeray said:

I'd be guessing that he is referring to the Chinese buying condos in Vancouver, driving the price up but leaving them empty. Then the condo unit falls into disrepair. But we'll see what he has to say.

So, Chinese people have so much money that they can drive up the prices and leave the unit vacant till it deteriorates. Is it Chinese fault or city planners? 

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12 hours ago, snoop1130 said:

Many Chinese are reportedly eager to invest in a residence overseas, keen for a safety net in case of another pandemic, and also to hedge against economic risks.

An investment overseas maybe, but they are also looking at renting out to Chinese tourists coming to Thailand.

Thailand hotels etc are going to lose out eventually.

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Just now, sharksy said:

In more recent history, Taiwan for under Japanese Colonial rule as it was ceded to Japan.  I think you must be Chinese, as you have been given a selective education

Taiwan and most of China (Eastern China) was under Japanese control, Dutch Control, etc. But it was province since Qing Dynasty and most people are Chinese and speak Chinese. They're not Japanese and don't speak Japanese.

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12 hours ago, snoop1130 said:

The kingdom’s reputable international schools and quality medical facilities are also drawing increasing numbers keen to acquire a second home.

Second home... maybe in a minority of cases.

They are looking for properties to rent out in the tourism industry to their Chinese friends and tourists alike.

Thai hotels owners will soon see a drop in bookings as Chinese start to own their own accommodation .

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42 minutes ago, CartagenaWarlock said:

So, Chinese people have so much money

so much clean money right. you sound like part of a propaganda machine. i assume since you love china and chinese so much you live there. 

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50 minutes ago, hotchilli said:

An investment overseas maybe, but they are also looking at renting out to Chinese tourists coming to Thailand.

Same as any other nationalities. And the impact on hotel industry is meagre to none at all. I rented out a condo from a Chinese national though a Thai agent. I don't rent from farang agents because I view them unable to run businesses in their home land due to their characters and had to run away from their homeland. 

Edited by CartagenaWarlock
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28 minutes ago, stoner said:

so much clean money right. you sound like part of a propaganda machine. i assume since you love china and chinese so much you live there. 

I don't love China as  I country but I am not here to bash Chinese, Indian, and Thais to preserve the sensitive egos of farangs who could neither find a women in their own lands or could survive in their home countries and had to flee to a foreign land for brides and survival. 

Edited by CartagenaWarlock
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