Chi­nese buys more Thai prop­er­ties

New Straits Times - - Business -

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 Reuters

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