{"id":42603,"date":"2017-02-02T10:28:55","date_gmt":"2017-02-02T03:28:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-are-becoming-investors-first-tourists-second-in-thailand\/"},"modified":"2017-02-02T10:41:27","modified_gmt":"2017-02-02T03:41:27","slug":"chinese-are-becoming-investors-first-tourists-second-in-thailand","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-are-becoming-investors-first-tourists-second-in-thailand\/","title":{"rendered":"Chinese are becoming investors first, tourists second in Thailand"},"content":{"rendered":"


\nThat is, if Beijing\u2019s capital controls don\u2019t catch them first
\nPhuket, one of the most popular destinations for Chinese property investors in Thailand. Aleksandar Todorovic\/Shutterstock
\nChinese demand for real estate in Thailand is at an apogee, but the Beijing government\u2019s drive to control capital flight could hinder such\u00a0demand, according to a new\u00a0report by Financial Times Confidential Research (FTCR).
\nSurveying 108 property investors, FTCR found that Chinese buyers, put off by skyrocketing values in the mainland, are scouring the kingdom for residential properties. More remarkably, these buyers are only \u201cmoderately wealthy.\u201d
\nThailand is the fifth most popular destination for real estate investment by the Chinese, FTCR reported. Chinese buyers account for 10 to 20 percent of total sales in the tourist hubs of Chiang Mai, Pattaya, and Phuket, and 5 percent of Bangkok sales.
\nIn 2010, almost no Chinese were buying homes in the country, FTCR pointed out.
\nMore: 5 reasons Thai construction is hot again
\nHowever, the greatest concentration of purchases by the Chinese is still in Greater Bangkok, with 29.3 percent of respondents currently owning a home in the Thai capital. Chiang Mai is next, with 21.8 percent of respondents reporting residential properties in the northern Thai city, followed by Phuket (17.3 percent) and the province in which Pattaya is located, Chonburi (15.8 percent).
\nA third of FTCR\u2019s respondents reported an intention to purchase another Thai property within two years, despite signs that the Chinese government\u2019s capital controls could remain in place indefinitely. Around 26.8 percent of respondents evinced a desire to buy in the next two years in Phuket, the most among all Thai destinations, followed by Chiang Mai (19.5 percent).
\nMost of the respondents are considered mid-market buyers. Sixty-three percent of them spent CNY1 million (USD145,386) for their homes, while 22 percent paid CNY500,000.
\nOne Shanghai-based resident told FT that Thai real estate is more within his means, with reasonably high rental yields to boot. \u201c(Thailand) is just like China in the 1980s: everything is waiting for a great boom,\u201d he said.
\nFTCR allowed room for such foreign demand to recede. \u201cThe immediate outlook for Chinese investment flows into Thailand is negative,\u201d FTCR stated in its report.
\n\u201cIn this new climate, we expect investors to delay plans to purchase more Thai real estate, at least until the dust settles, if not until the Chinese government loosens up again.\u201d
\nRead next: Why luxury real estate in Thailand remains a solid investment
\n
\nSource : property-report.com
\nRead more…Chinese are becoming investors first, tourists second in Thailand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

That is, if Beijing\u2019s capital controls don\u2019t catch them first Phuket, one of the most...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-42603","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-b59","jetpack-related-posts":[{"id":22512,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/explained-the-rise-in-chinese-demand-for-thai-real-estate\/","url_meta":{"origin":42603,"position":0},"title":"Explained: the rise in Chinese demand for Thai real estate","date":"August 10, 2016","format":false,"excerpt":"\r Chinese real estate investors are heading to Thailand in a big way \u2013 here\u2019s why Pattaya has seen increased demand from Chinese investors. Image credit: Prachanart Viriyaraks Thailand has seen a significant increase in\u00a0investor interest from China over the past year, according to\u00a0Juwai.com, the Chinese international property portal. 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And markets\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/42603"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=42603"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/42603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=42603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=42603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=42603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}