Coronavirus impacts Thai property market

• 15 April 2020
• Property Focus
• 2299 Views

With the ongoing ‘global health emergency’ declared by the World Health Organisation (WHO) over the coronavirus impacting travel by Chinese investors, regional economies and property markets have been feeling the pinch, with Thailand feeling it more than most.

Since 2016, Chinese investors have accounted for the majority of property purchases in the Thai Kingdom. However, the advent of the global coronavirus health emergency has impacted the confidence and sentiment of Chinese property investors in Thailand.

Industry insiders have pointed to rapidly dropping sales, deposits being abandoned and requests for refunds or postponement of ownership transfers significantly rising.

Having become accustomed to the wealth and purchasing power of Chinese property investors, Thailand’s property market is now facing a drastic downwards trend if the situation does not normalize in the near future.

• Economy and Finance