Lots of Chinese around in Pattaya, young couples.

Put up a sign to sell/rent our Pattaya City house and it was bought within a week.

Lots of young Chinese couples.

Why are they buying up Pattaya?

My wife thinks they can now get a 99 year agreement to own the house and land.

Why do they need a 99 year agreement if they can just have it in company name? illegal i know

13 minutes ago, scubascuba3 said:

Why do they need a 99 year agreement if they can just have it in company name? illegal i know

So they buy in a Thai company name?

     The new housing project of 28 homes on The Darkside where we live has three Chinese families so far, and several Russian ones.  We sold our first house in the project to a Russian family after we built a second home in the project this year. 

     We know one of the young Chinese families and they told us their main reason for living here was for a better education for their two children.  I think Pattaya will continue to be a popular choice for families with its selection of private schools, wide choice of housing at all price points, good health care and shopping, and close proximity to Bangkok and two airports.  

I'm pretty sure a lot more would buy live here if they could afford it. Quite a few buying property and opening businesses in Samui also. If I recall correctly, there was an article here on AN a few months ago about a Chinese owned, illegal housing project that was shut down by the authorities on a mountainside in south Chaweng..

5 hours ago, carlyai said:

So they buy in a Thai company name?

Yes, easy to set up a thai company for that purpose

Probably many different reasons just  like for other nationalities.

 

Chinese and Russians who have funds they can move outside of their country are buying property in many countries for the simple reason of not keeping all eggs in one basket, esp not in their home country where one day all they have could be taken away. Even if property value here goes down it is still better than loosing everything. 

 

And as someone who has lived in China for well over a decade, easy to understand they move to thailand if they can arrange their life here in a way that it works for them

 

On 11/10/2024 at 6:55 PM, newnative said:

     The new housing project of 28 homes on The Darkside where we live

"Darkside"?

2 hours ago, Young Hick said:

"Darkside"?

East of Sukhumvit!

 Perhaps they have to get rid of the money made from illegal scams and call centres

On 11/11/2024 at 7:55 AM, newnative said:

     The new housing project of 28 homes on The Darkside where we live has three Chinese families so far, and several Russian ones.  We sold our first house in the project to a Russian family after we built a second home in the project this year. 

     We know one of the young Chinese families and they told us their main reason for living here was for a better education for their two children.  I think Pattaya will continue to be a popular choice for families with its selection of private schools, wide choice of housing at all price points, good health care and shopping, and close proximity to Bangkok and two airports.  

I met a Russian lady who has 3 daughters all at school. Costs her 1.5 million pa. But of course there are many other benefits, as you say.

The Chinese are very clever and they have many different work around systems setup to own land and houses here, and from what I hear real estate prices in major cities like Shanghai and Beijing are completely out of control. 5 to 10 times what they're paying in big cities here with exception of Bangkok. 

2 minutes ago, spidermike007 said:

The Chinese are very clever and they have many different work around systems setup to own land and houses here, and from what I hear real estate prices in major cities like Shanghai and Beijing are completely out of control. 5 to 10 times what they're paying in big cities here with exception of Bangkok. 

I had Chinese buyers interested in my house when I was selling a few years ago. But getting money out of China was almost impossible. I had contacts in Dubai and Hong Kong. Even for them, it was an extremely dodgy affair and neither would touch it.

9 minutes ago, bradiston said:

I met a Russian lady who has 3 daughters all at school. Costs her 1.5 million pa. But of course there are many other benefits, as you say.

I hope you never signed for anything........................😋

Just now, transam said:

I hope you never signed for anything........................😋

She was a very nice, very well educated, and presumably very well heeled, woman but married. I used to encounter her and her friend in the sauna in Sands Spa bottom of Soi 5 Pratamnak. Stopped going there some time ago.

4 minutes ago, bradiston said:

I had Chinese buyers interested in my house when I was selling a few years ago. But getting money out of China was almost impossible. I had contacts in Dubai and Hong Kong. Even for them, it was an extremely dodgy affair and neither would touch it.

They don't have to take their money out of China, simply do a deal with an entity in China they give them the Yuan ad the Thai end give them the baht.

3 minutes ago, Thailand said:

They don't have to take their money out of China, simply do a deal with an entity in China they give them the Yuan ad the Thai end give them the baht.

I couldn't find an entity in Thailand willing to basically launder their money. I'm sure there are ways, but neither I nor the buyers were able to find one.

14 minutes ago, bradiston said:

I couldn't find an entity in Thailand willing to basically launder their money. I'm sure there are ways, but neither I nor the buyers were able to find one.

They are Chinese! I personally know of three who have done exactly that, but yes, grey turning to black and much like the use of companies to purchase property here.

 

 

 

21 hours ago, bradiston said:

I had Chinese buyers interested in my house when I was selling a few years ago. But getting money out of China was almost impossible. I had contacts in Dubai and Hong Kong. Even for them, it was an extremely dodgy affair and neither would touch it.

The spectacularly heinous CCP have created a one-way street, products go out, money comes in, it is extremely difficult to export anything to China, and it's extremely difficult to pull wealth out of China.

 

This obnoxious government (who will eventually be deposed) really have the nation locked down and the people oppressed to an extreme degree. They express a mild degree of contentment due to the economic miracle, and the fact that the middle class has expanded fairly dramatically. But the number of issues that that nation faces are countless, and it's only a matter of time. 

1 hour ago, spidermike007 said:

The spectacularly heinous CCP have created a one-way street, products go out, money comes in, it is extremely difficult to export anything to China, and it's extremely difficult to pull wealth out of China.

 

This obnoxious government (who will eventually be deposed) really have the nation locked down and the people oppressed to an extreme degree. They express a mild degree of contentment due to the economic miracle, and the fact that the middle class has expanded fairly dramatically. But the number of issues that that nation faces are countless, and it's only a matter of time. 

Well, spider, I guess you can't please all of the people all of the time. The advances China has made in the last 30 years are spectacular, but, as you say, the CCP remains rooted in control and the continuation of their hold on power. But in a country of 1.6 billion, what are the alternatives? Democracy? The country would grind to a halt. Above all else I believe the Chinese love their country, and so sacrificing some personal liberties, abhorrent to us in the West, is not such a big deal there. China first!

On 12/7/2024 at 2:36 PM, bradiston said:

I couldn't find an entity in Thailand willing to basically launder their money. I'm sure there are ways, but neither I nor the buyers were able to find one.

bit coin?  seems to be the favorite of mexican drug cartels...

3 hours ago, pomchop said:

bit coin?  seems to be the favorite of mexican drug cartels...

I never thought of it!