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Hong Kong’s instability is a boon for Bangkok

08/20/2019| 3:25:07 PM|

The circumstance may add another tailwind to the luxury market in Bangkok, where a tourism boom has put the city on the map for investors, especially mainland Chinese who have come in droves.

Two months of unrest in Hong Kong are driving investment money out of the city and into Thailand’s ultra-luxury condominiums, according to one of the biggest developers in the Southeast Asian country.

Some 40% of the condos in a 52-story Bangkok tower that opened last week have already been sold to buyers from mainland China, Hong Kong, Taiwan and Singapore, according to Keerin Chutumstid, an executive at Bangkok-based Magnolia Quality Development Corp., which owns a quarter of the property. 

The circumstance may add another tailwind to the luxury market in Bangkok, where a tourism boom has put the city on the map for investors, especially mainland Chinese who have come in droves. Bangkok in 2016 surpassed London to become the world’s most-visited city.

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TAGS: Bangkok | Hong Kong | London
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