Chinese investors help fuel demand for housing sector in tourist areas

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Chinese investors help fuel demand for housing sector in tourist areas
By   SOMLUCK SRIMALEE
THE NATION

 

BANGKOK: -- DEMAND FOR residential properties in tourist destinations - especially Chiang Mai, Chiang Rai and Khao Yai - is still growing strongly, driven in particular by Chinese nationals buying a second home or investing for rental income, property experts say.

 

“Up to 80 per cent of our Chinese customers who bought in our residential projects in Bangkok or in tourist destinations were investors looking for rental income that generates a return on investment averaging 5-8 per cent a year,” Pitchakorn Meesak, Sansiri’s deputy vice president for international marketing, said in an interview with The Nation recently.

 

She said they were investing in Thailand’s residential-property market because prices here are still lower than in other markets in the region such as Hong Kong and Singapore, where prices can exceed Bt1 million per square metre.

 

According to a survey by Plus Property Co, a subsidiary of Sansiri, real-estate growth was found to be closely linked to tourism growth in Chiang Mai, Chiang Rai and Khao Yai, with average property sales of 79 per cent and tourism growth of 13 per cent.

 

Full story: http://www.nationmultimedia.com/news/business/property/30306028

 

-- © Copyright The Nation 2017-02-10

[Thailand]

Condo's maybe but how are they buying houses on land they cannot own?

 

The company route is very dodgy unless a real company, leasing perhaps : long term untested, a couple of other equally dodgy routes.

 

Special terms from the junta perhaps?

[impulse]

34 minutes ago, Thailand said:

Condo's maybe but how are they buying houses on land they cannot own?

 

The company route is very dodgy unless a real company, leasing perhaps : long term untested, a couple of other equally dodgy routes.

 

Special terms from the junta perhaps?

 

If you're trying to hide ill gotten gains outside your home country, the ROI and security aren't your first priorities.

[Wilsonandson]

Condo's maybe but how are they buying houses on land they cannot own?

 

The company route is very dodgy unless a real company, leasing perhaps : long term untested, a couple of other equally dodgy routes.

 

Special terms from the junta perhaps?

Condos in Chiang Rai and Khao Yai? Must be 99 year leased houses for sale in gated village housing estates. Hardly an investment. Could it be accommodation bought for mia noi's of rich Chinese men?

[trogers]

1 hour ago, Wilsonandson said:

Condos in Chiang Rai and Khao Yai? Must be 99 year leased houses for sale in gated village housing estates. Hardly an investment. Could it be accommodation bought for mia noi's of rich Chinese men?

No such thing as 99-year lease in Thailand. Try Singapore.

 

Many condos bought are either a playboy's den or to keep a Thai mai noi, and not as an investment. See a similar development along Rachada in Bangkok.

[chuang]

1 hour ago, trogers said:

No such thing as 99-year lease in Thailand. Try Singapore.

 

Many condos bought are either a playboy's den or to keep a Thai mai noi, and not as an investment. See a similar development along Rachada in Bangkok.

Here you pay a fraction of the price in Singapore..

[trogers]

7 minutes ago, chuang said:

Here you pay a fraction of the price in Singapore..

That's why economic growth of Singapore is only half that of Thailand...their mai nois are very overpriced...

[SoilSpoil]

Prices in freehold land in Muang Chiang Rai and nearby villages have skyrocketed over the years. Very lucrative. 

[NCC1701A]

"Chinese investors help fuel real estate market bubble in tourist areas"

 

 

 

 

 

 

 

 

[USPatriot]

All of the tourists    

 

Where?

 

High season and the beach is half full (optimistic) point of view

[elgordo38]

6 hours ago, Wilsonandson said:

accommodation bought for mia noi's of rich Chinese men?

Now I understand the home away from home concept. The number that you have is only controlled by one's wealth. 

[elgordo38]

Catch phrase in China. Git your money out while the gettin is good.