Thai election no deterrent to Chinese property buying: Juwai

Kingdom top in the world for purchase inquiries from China

Chiang Mai, Thailand. Brian S/Shutterstock

Jitters over the impending general elections in Thailand do not seem to apply to the Chinese home buyer.

Leading Chinese property portal tells CNBC the company hasn’t seen “a link between the Thai election and Chinese property buying.”

“While the election is momentous for Thailand, most of the buyers we work with are unconcerned about the outcome,” CEO Carrie Law said.

Thailand ranked top four in the world for the most investment volumes from Chinese residential buyers last year, the portal revealed last month.

The kingdom received USD2.3 billion last year in Chinese investment capital, trailing only Australia, which got USD14 billion, Hong Kong (USD16 billion), and the US (USD30 billion).

In terms of buying inquiries from the Chinese, Thailand was rated most popular last year among countries surveyed by Juwai, up from sixth in 2016.

Despite the uncertainty of the election, its aftermath may spell an improvement in overall investor confidence in Thailand, Kasem Prunratanamala, head of research at CIMB Securities in Bangkok, suggested to CNBC.

Trade deal talks between Thailand and the European Union are likely to resume after the race, Kasem added. Mainland China, along with Hong Kong, is also likely to pour more foreign direct investment into Thailand as Beijing and Washington carry out the trade war.