Chinese buys more Thai properties
HONG KONG: Mainland Chinese are snapping up more properties in Thailand for both personal and investment purposes, after being priced out of the market in big cities at home, developers in the Southeast Asian country said yesterday.
Thai developer Sansiri Pcl, which is opening three new offices in China this year to join its Beijing branch, said sales to Chinese buyers had risen steadily over the past three years.
“In 2014, they comprised about 15 per cent of our foreign buyers. Last year, almost 30 per cent. This year they might actually be up to, or surpass, Hong Kong,” said Sansiri international business head Cobby Leathers.
Raimon Land Pcl CEO Adrian Lee said three to five years ago, Chinese buyers accounted for 20 to 30 per cent of its foreign buyers. Now they make up around 60 per cent. Thailand ranked sixth for the number of Chinese real estate buying enquiries made in this year, but moved up to No. 3 in the first half of this year, said Sue Jong, chief of operations for Juwai.com. Reuters