WORLD EXCLUSIVE: Chinese property buyers and investors have made Thailand number one in terms of property inquiries.
For many of Thailand’s real estate agents and property developers this will come as no surprise however, for those that have yet to treat the Chinese market seriously it’s yet further evidence of the importance of buyers from the mainland happening right now.
Carrie Law, the Chief Executive Officer and Director of Juwai.com, the number one Chinese international real estate website and exclusive international real estate partner to Chinese online giant Tencent, said: “Chinese buyer demand has soared in Thailand during the first quarter.”
“By number of enquiries, although not by total inquiry value, Thailand is at the moment the number one country in the world for Chinese buyers.”
“Chinese buyer demand during the first quarter was 41.1 percent higher than one year earlier.”
Thailand is seen as an appealing, close and affordable alternative to more expensive countries like Australia and the U.S, according to Law.
“Southeast Asia has been gaining market share of Chinese property buyers faster than any other region since early 2017, and Thailand has been leading the charge.
During 2016, only three Southeast Asian countries made it into the top 15 for Chinese property buyers, and none made it into the top five. Last year, five made it into the top 15, according to data from Juwai.com.
Law added: “The biggest drivers are the affordable luxury on offer in Thailand, and the fact that it seems to have government blessing as a Belt and Road Initiative country.”
“Capital controls are constraining the amount Chinese buyers can spend, so they have turned to lower priced markets.”
She concluded by saying that Thai politics does not seem to be a worry for buyers from China, who don’t necessarily believe a democracy is better than a military regime.
Last weekend, a property exhibition in Bangkok saw a number of sales to Chinese buyers, largely because some developers adopted Mandarin language marketing at the event.
So with demand increasing, for Thailand property and real estate developers, and their agents, there is still time to capture a piece of this lucrative and extremely important market.
Note for clarity: The editor of ThailandProperty.News is currently a Thailand property expert contributor for Juwai.com. He receives no benefit from this.