Thai Property Sees Surge in Chinese Buyers

• Proeksa Meas
• 31 December 2015
• Local News
• 1512 Views

According to Juwai.com’s Chinese Purchasing Intent Index for Thailand, the rate of Chinese investors buying property in Thailand has surged 180 percent in the last year.

By comparison, the combined Purchasing Intent Index for the five most popular countries with Chinese buyers in the second quarter of 2015 (the US, Australia, the UK, Canada, New Zealand) rose just 37 percent.

Average prices for Thai properties that Chinese buyers were looking at has also increased by 39 percent over the previous quarter, and by 111 percent over the previous 12 months to a new high of $611,062.

Juwai.com CEO Andrew Taylor told World Property Journal that, “Chinese buyers are taking advantage of their strong currency and proximity to Thailand to invest in vacation homes and investment properties. Over the past five years, the Renminbi has gained 19 percent on the Baht.

“Chinese businessmen with commercial interests in Thailand were among the first buyers of local residential real estate. Now, you see vacationers and investors joining their ranks.

“The top destinations in Thailand are Pattaya, Koh Samui, Phuket, Chiang Mai and Bangkok.

“Thailand could greatly profit from the projected massive increase of Chinese international property investment in the coming decade. It could easily displace other countries that are currently more popular with Chinese buyers.

“In this period, Thailand has advanced from the 10th most popular country with Chinese buyers to the 9th.”.