FIRST WITH THE NEWS: As anyone involved in Thailand property and real estate will know, Chinese buyers are vital contributors to the market.
Knowing what motivates them to make a purchase is the key to a successful sale.
In one case we reported earlier this year, some 40 percent of the available foreign quota in several Bangkok condos have been snapped up by property buyers from China, and, if anything, that trend is moving faster.
Just two weeks ago, a property event in central Bangkok saw Chinese buyers signing agreements to buy a Phuket property investment.
But why are the buyers from China so fixated with Thailand property right now?
According to data from Juwai.com, Chinese property buyers in Thailand are signiﬁcantly more likely to be driven by investment goals than the global average.
Juwai, which means “home overseas”, is visited by thousands of Chinese buyers each day from more than 326 cities throughout China, as well as major Chinese communities in Taiwan, Hong Kong, Malaysia and Singapore. They are all searching for overseas property/
Investment is a most important motivation for 73.8 percent of Chinese property buyers in Thailand, while globally the average is only 53.2 percent.
Although buyers can respond to the Juwai.com motivation survey by choosing more than one answer, Chinese buyers in Thailand are also much less likely to be buying for any other reason besides investment – and that includes education, own use and emigration.
Buying for their own use motivates 51.9 percent of Chinese property buyers in Thailand, compared with 59.2 percent in all countries.
In terms of education, just 2.1 percent of Chinese buyers in Thailand are motivated by it, compared with 13.9 percent globally.
As for emigration, only 0.3 percent of Chinese buyers cited that as their motivation to buy in Thailand, compared to 3.6 percent globally.
Interestingly, Juwai.com found that even though there are Chinese intent on retiring in Thailand, which is common in Chiang Mai, most do not actually consider themselves as immigrants in Thailand.
Note: Andrew Batt, the founder and editor of ThailandProperty.News is the sole current Thailand expert content contributor for Juwai.com.