Chinese Investors Flocking to Thailand Property Deals
According to Juwai.com's Chinese Purchasing Intent Index for Thailand, the desire by Chinese to buy property in Thailand has outperformed that of larger countries.
Over the past year the Thai Index has soared 180 percent. 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.
On a quarterly basis, the Thai Purchasing Intent Index is up 51 percent, much better than the 1 percent drop in the top five countries average. See Related Story: Thailand Hotel Market Shows Resilience in 2014
The average price Chinese buyers inquire about in Thailand has also increased substantially, by 39 percent over the prior quarter and by 111 percent over the prior year, to a new high of $611,062.
Juwai.com CEO Andrew Taylor says, "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."