If you’re working in Thailand’s real estate and property sector and you don’t know about China’s Golden Week then you could miss potential sales.
In some parts of Thailand, Chinese property buyers and investors currently represent 80 percent of all foreign property purchases.
So, the Golden Week phenomenon, which this year takes place from October 1 until October 7, presents a great and potentially lucrative opportunity for Thailand’s property industry.
Thailand is ranked as the third most-popular destination, and China’s number one international property website Juwai.com saw the Kingdom ranked top for property enquiries during the first six months of this year.
According to Juwai’s 2018 Chinese International Travel Survey, 77 percent of Chinese people have property purchase intentions in mind when they travel overseas, and 49 percent will or may schedule appointments to meet international real estate agents during their journey.
Chinese buyers generally see foreign property as better value compared to the exorbitant costs at home.
By way of an example, a nondescript apartment in suburban Shanghai will cost the equivalent of more than THB 41 million.
Suddenly you can see why Thailand property investments are have become increasingly attractive to Chinese buyers.
The great news for real estate agents looking for Chinese customers is that Juwai’s survey also found that 74 percent of holidaymakers plan to meet with two or more real estate agents when they are overseas.
If your appointment schedule has gaps during the first week of October it may be a sign you need to do more if you want to capture a slice of this important demographic.
Golden Week is a lucrative opportunity window for property agents and developers to present their real estate to customers who are even more receptive to property viewings.
Note for clarity: Andrew Batt, the Founder and Editor of ThailandProperty.News, is a columnist for Chinese international property website Juwai.com on matters relating to Thailand property and real estate.