Reasons Chinese Buying Realestate?

[carlyai]

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.

[scubascuba3]

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

[carlyai]

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?

[newnative]

     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.  

[phetphet]

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..

[scubascuba3]

5 hours ago, carlyai said:

So they buy in a Thai company name?

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

[mran66]

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