For land investments in Southeast Asia, most Chinese buyers are attracted to the red-hot property market in Thailand, the 21st Century Business Herald reported.
According to data released by real estate agents, in the third quarter of this year, Thailand accounted for 70% of total real estate inquiries among Southeast Asian countries.
At the same time, Thailand also ranks third on China’s home buyer destination list, with the top five popular spots being Pattaya, Phuket, Hua Hin, Bangkok and Samui.
“In the beginning, the purchase of property in Southeast Asia was for the purpose of investment, but with the policy changes in Thailand, we can clearly see rise in purchasing for self-occupation,” a real estate intermediary in Pattaya told the 21st Century Business Herald.
According to HSBC’s 2017 expat experience survey, Thailand ranked 22 in global rankings and fifth in Asia for living destinations.
In the breakdown of statistics, disposable income, living balance, housing, health, and quality of life were ranked far ahead of other Southeast Asian countries.
“The market is very good now,” said a Chinese developer who entered the Phuket market in 2013. “Middle-class people from 30 to 50 years of age are the main buyers.”