Chinese tourist boom boosts Thailand's property sector
Thailand's property sector is benefiting from growing Chinese tourist arrivals, with prices five times cheaper than in Chinese cities, sales are set to rise further.
Chinese tourists topped tourism visits to Thailand in 2015 with 2.2 million from South East Asia and 3.2 million from East Asia, according to data from Tourism Authority of Thailand (TAT).
Sansiri Public Company Limited (PLC) forcasted that Thailand’s property market will rise as tourists and foreign investors continue to pour into the country.
Among property hotspots for Chinese investors are Bangkok and Pattaya.
East Asian investors made up 80% of Sansiri’s international buyers in 2015, with 45% from Hong Kong, 20% from Singapore and 15% from Mainland China. Sales to foreign buyers totalled RMB 669 million (THB 3.5 billion) and in 2016 is expected to grow to RMB 955.09 million (THB 5 billion).
“Thailand’s property market remains very attractive, offering higher yield returns, and yet five times cheaper than first tier cities in Mainland China," said Cobby Leathers, Head of International Business at Sansiri PLC.
Chinese investors are eyeing Thailand as a high potential destination for property investment opportunities, holiday homes and retirement, with the country offering high-rental yields at competitive prices.
Read original article