There will be some 6 million Chinese nationals travelling abroad for National Day Golden Week during October – and Thailand is their number one destination.
With a proven link between tourists and eventual property buyers, this can only be good news for Thailand’s property and real estate sector. It’s already seeing more Chinese property buyers than ever before.
How well prepared are you to welcome this wave of Chinese travellers who are highly likely to property hunt while overseas, according to the Chinese overseas property portal Juwai.com.
The Golden Week holiday is a prime sales season when Chinese traditionally leverage the week-long holiday to property hunt, and is also a period that Chinese developers capitalise on to market new real estate projects.
Considering Chinese buyers are faced with domestic sales restrictions limiting buyer’s opportunities in China, there chances are high that many mainland property buyers will be looking overseas for investment opportunities.
To fully benefit from the coming Golden Week opportunity, it’s still vital to find out where Chinese intend to travel to this Golden Week.
According to Ctrip, it’s Asia that’s going to be hot with Chinese outbound tourists this October. The most popular destinations for Chinese this National Day Golden Week are Thailand, Japan, and the US, followed by Singapore, Australia, Canada, Vietnam, Italy, Russia, and Malaysia.
Last year saw 8.8 million Chinese tourists spending THB 430 million baht in Thailand, with 1 in 4 of all tourists coming to Thailand hailing from China, according to statistics from the Tourism Authority of Thailand.
This year, Chinese arrivals are projected to hit 9 million tourists, generating more than THB 480 million baht, an 8 percent increase that will see China account for 26.6 percent of Thailand’s overall tourism revenue.
And according to Juwai.com, Thailand’s popularity with Chinese as a holiday destination has spilled over to its property market as well.
Thailand leapt from the sixth-ranked property investment destination last year to become the third-most enquired destination by Chinese buyers in H1 2017.
Beyond the fact that Chinese adore the Thai lifestyle, Thailand is also raking in Chinese property investments thanks to its proximity to China, affordability, freehold ownership options, vibrant rental markets and liberal culture.