By Andrew Batt:
Thailand real estate agents that fail to market their properties to Chinese buyers are missing out on what could amount to a substantial amount business.
Chinese visitors to the Land of Smiles now outnumber those from anywhere else, according to date released yesterday by the Tourism Authority of Thailand. During the first six months the number of Chinese nationals arriving in Thailand rose 28.9 percent year-on-year to cross the one million mark for the first time.
Why should this matter to real estate agents in Thailand?
There is a direct and proven link between tourist visitors and eventual property buyers – not only in Thailand but around the world. Repeat tourists are more likely to consider investing in their preferred vacation destination.
To see fact in action you only need to look to Pattaya and to the number of agents catering to the Russian and Eastern European markets, and to Hua Hin which boasts a number of Scandinavian-focused agents who cater exclusively to that market.
In Bangkok we have agents who specialise in the Japanese expatriate and overseas sector, and I think it will only be a matter of time before we see more agents that target the growing number of Chinese visitors to the Kingdom.
Those who fail to follow tourist trends and adapt accordingly will miss out at the expense of more entrepreneurial agents with their finger on the pulse.
ABOUT THE AUTHOR:
Andrew Batt is Regional Group Editor for PropertyGuru Group. With more than 20 years experience in the media and publishing industry, Andrew is also widely regarding as an authority on property matters in Thailand and throughout Southeast Asia. Prior to joining PropertyGuru he was responsible for licensing the Thai language edition of Bloomberg Businessweek, as well as holding the position as Publishing Director for Ensign Media – the publishers of Property Report South East Asia magazine and the organisers of the Thailand Property Awards and the South East Asia Property Awards.
PropertyGuru Group now publishers more than 700 property focused news stories each and every month on its market-leading websites in Thailand, Singapore, Malaysia and Indonesia.