Buyers from China are purchasing even more properties in Thailand as they look at the country being ideal for both personal and investment purposes, according to media reports. Thailand property is more affordable than many cities in China which is another reason Chinese buyers have started acquiring Thai real estate.
Between 2012 and 2015, Chinese buyers accounted for 20-30 per cent of the foreign customers Raimon Land Pcl had, but now this group accounts for nearly 60 percent, says Raimon Land CEO Adrian Lee to Reuters.
For Chinese investors, it can be easy to rent properties in Thailand without many hassles. Shu Feifei from Chegdu in western China has purchased 2 residential properties in Bangkok in the past couple of years and is able to let them out using Airbnb. Many other potential buyers are asking her questions about the process of buying and renting out units in Thailand.
“Investing there was a better option than investing in China. In Thailand, it’s good for foreigners to buy smaller properties, it’s easier to rent out too if they want to rent,” says Shu to the news agency.
Shanghai Real Estate
The major issue preventing Chinese buyers from purchasing domestic real estate is China’s increasing home prices which have risen a great deal since the start of 2016. Even smaller cities are seeing large home price hikes after local governments in major cities like Shanghai placed restrictions to help cool off the markets. The yuan, China’s currency, has recovered recently after hitting a low in 2016 which has helped improve purchasing power.
It is not just the cheap prices that make Thailand attractive to foreign buyers. The country remains a popular holiday spot among Chinese visitors who are coming to the country in record numbers. The most popular places for Chinese buyers to purchase real estate are Bangkok, Phuket, and Pattaya.
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