reader Posted February 11, 2019 Share Posted February 11, 2019 From CNBC (11 Feb.) Chinese investors are spending billions on Thai property despite a turbulent political scene Thailand's popularity among Chinese property investors has soared despite a 2014 military coup and uncertainty about upcoming elections. According to recent data from online Chinese real estate portal Juwai.com, Thailand was the most popular country in the world when it comes to inquiries from potential real estate buyers in 2018 — climbing up from the sixth spot in 2016. Thailand was the fourth-most-popular country for Chinese property investment in 2018, according to Juwai, with $2.3 billion coming in from Chinese sources. Chinese investors have continued pouring their money into Thailand's property sector even as the kingdom barrels toward an uncertain national election. That underscores the Southeast Asian nation's enduring popularity with the Chinese — tourists from Asia's top economy have for years seen Thailand as a top spot for holidays. According to recent data from online Chinese real estate portal Juwai.com, Thailand was its most popular country when it comes to inquiries from potential real estate buyers in 2018 — climbing up from the sixth spot in 2016. Thailand will hold general elections on March 24, but Juwai CEO Carrie Law said the company hasn't seen "a link between the Thai election and Chinese property buying." "While the election is momentous for Thailand, most of the buyers we work with are unconcerned about the outcome," she told CNBC. Thailand's economy has been powering ahead since its 2014 coup, reaching 3.9 percent GDP growth in 2017. That was its best in five years, but that growth is expected to slow a bit this year due to weaker global growth, the World Bank projected. Even though that recent coup was the second in less than a decade, the political upheaval did little to cool Thailand's huge property increases. In fact, Sansiri — one of Thailand's biggest developers — set up its international business unit in 2014 after seeing growing interest from foreign buyers, said Nanmanas Jiwattanakul, the company's assistant executive vice president of international business development. Chinese buyers make up 70 percent of Sansiri's international sales, she said. Foreign buyers have not been deterred by the country's political limbo over the last five years as the Thai economy, business processes and policies have showed consistency and resilience despite numerous government changes, Nanmanas added. Thai property prices have roughly doubled in the last decade, so investors see the country as good place to grow their wealth, Nanmanas said. Still, she added, it's more than just financial calculus leading people to purchase property in Thailand, they're also buying holiday or retirement homes. Thailand was the fourth-most-popular country for Chinese property investment in 2018, according to Juwai. With $2.3 billion coming in from Chinese sources, the Southeast Asian nation ranked behind only the U.S. ($30 billion), Hong Kong ($16 billion) and Australia ($14 billion.) https://www.cnbc.com/2019/02/11/thailand-property-chinese-buying-interest-has-surged-in-recent-years.html Quote Link to comment Share on other sites More sharing options...
Guest Posted February 11, 2019 Share Posted February 11, 2019 1 hour ago, reader said: From CNBC (11 Feb.) Chinese investors are spending billions on Thai property despite a turbulent political scene Thailand's popularity among Chinese property investors has soared despite a 2014 military coup and uncertainty about upcoming elections. According to recent data from online Chinese real estate portal Juwai.com, Thailand was the most popular country in the world when it comes to inquiries from potential real estate buyers in 2018 — climbing up from the sixth spot in 2016. Thailand was the fourth-most-popular country for Chinese property investment in 2018, according to Juwai, with $2.3 billion coming in from Chinese sources. Chinese investors have continued pouring their money into Thailand's property sector even as the kingdom barrels toward an uncertain national election. That underscores the Southeast Asian nation's enduring popularity with the Chinese — tourists from Asia's top economy have for years seen Thailand as a top spot for holidays. According to recent data from online Chinese real estate portal Juwai.com, Thailand was its most popular country when it comes to inquiries from potential real estate buyers in 2018 — climbing up from the sixth spot in 2016. Thai property prices have roughly doubled in the last decade, so investors see the country as good place to grow their wealth, Nanmanas said. Still, she added, it's more than just financial calculus leading people to purchase property in Thailand, they're also buying holiday or retirement homes. Thailand was the fourth-most-popular country for Chinese property investment in 2018, according to Juwai. With $2.3 billion coming in from Chinese sources, the Southeast Asian nation ranked behind only the U.S. ($30 billion), Hong Kong ($16 billion) and Australia ($14 billion.) https://www.cnbc.com/2019/02/11/thailand-property-chinese-buying-interest-has-surged-in-recent-years.html I don't doubt property prices have doubled for new construction or in many cases the asking prices may have doubled , but I just wonder how many empty units there are which have been unsold for years. Certainly in Pattaya there is a Glut of unsold Condos and I would guess it is the same in many buildings in BKK. Quote Link to comment Share on other sites More sharing options...
