BANGKOK, Chiang Mai, Pattaya and Phuket looks set to remain top destinations for Chinese property buyers in 2019 with a growth of at least 10 percent, according to an international property portal.
Juwai.com chief executive Carrie Law said the inquiries for Thai property has peaked lately and Thailand is expected to remain the most popular country for the Chinese market.
“This reflects excellent offerings from developers combined with quality, lifestyle and investment prospects,” she said, as quoted by the Bangkok Post.
“This is also the result of other factors driving Chinese consumers to seek appealing overseas property in the price ranges available in Thailang, particularly given Beijing’s regime of capital controls and a lack of alternative investment opportunities within China itself,”
The ongoing infrastructure projects in Thailand, she said, gave a positive economic outlook for Thailand in the long-term.
She added the trade war between China and the US would see Chinese buyers shift investments from the US to Thailand.
Last year, Thailand topped the list for most inquiries among Chinese buyers for the first time.
The website boasts reaching more than 3.1 million Chinese speaking users and carries 2.8 million listings from 90 countries.
In 2016, Thailand was the sixth most popular destination and reached third place in 2017 before coming in first last year.
In terms of total investment, Thailand came in fourth with US$2.3 billion, while the US had US$30 billion.
Hong Kong saw US$16.2 billion in real estate investments pour in while Malaysia was fifth at US$2 billion.
Law estimated that 15,000 new apartments in Bangkok were sold to Chinese and Hong Kong Buyers last year, accounting for about half of all foreign buyer purchases in Bangkok.