Chinese buyers still tops demand for Thai real estate

Retalk Asia has reported that according to CBRE, a leading international property consultant, Chinese buyers remain the primary player for Thai real estate market.

“Chinese direct investment in property development through joint ventures is also likely to increase, however, demand may be volatile and fluctuate based on sentiment and vary from sector to sector,” said Head of Research and Consulting, CBRE Thailand, James Pitchon.

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Over the past two years Chinese buyers have increased dramatically, which could be seen from reports by some developers citing that up to 50 percent of their condominium sales have been to foreigners, mainly Chinese purchasers.

The report stated that Chinese nationals are now the second largest number of expatriates with work permits. China was also ranked the fifth largest source of foreign investment in the kingdom. Some of the main factors driving more investment in the property market are increase of Chinese tourists, as well as increased taxes and regulations for foreign buyers in other real estate markets.