Chinese buyers desire to purchase property in Thailand continues to increase and is now the ninth most popular country to buy, according to Juwai.com‘s Chinese Purchasing Intent Index for Thailand. That ranking sees the Kingdom rated higher than several larger countries.
The Thai Index has increased by 180 percent over the past year which is one of the highest rates. By comparison, the combined Purchasing Intent Index for the US, Australia, the UK, Canada and New Zealand, the five most popular countries with Chinese buyers in the second quarter of 2015, rose only 37 percent during the same time period.
Those five countries saw a drop in one percent from previous quarter while the Thai Purchasing Intent Index was up 51 percent. The average price Chinese buyers inquire about in Thailand has also increased substantially, by 39 percent over the prior quarter and by 111 percent over the prior year, to a new high of USD611,062, the Index noted.
“Chinese buyers are taking advantage of their strong currency and proximity to Thailand to invest in vacation homes and investment properties. Over the past five years, the Renminbi has gained 19 percent on the Baht,” Juwai.com CEO Andrew Taylor said. “Chinese businessmen with commercial interests in Thailand were among the first buyers of local residential real estate. Now, you see vacationers and investors joining their ranks.”
The top destinations in Thailand at the moment are Pattaya, Koh Samui, Phuket, Chiang Mai and Bangkok. Chiang Mai has long been a popular spot for Chinese tourists while the number of visitors to Phuket and Pattaya from China have increased in recent times.
“Thailand could greatly profit from the projected massive increase of Chinese international property investment in the coming decade. It could easily displace other countries that are currently more popular with Chinese buyers,” Taylor added. “In this period, Thailand has advanced from the 10th most popular country with Chinese buyers to the 9th.”
