Chinese Investors Still Eyeing Southeast Asian Properties

It is common to see a group of Chinese tourists arriving at two of the biggest airports of Bangkok, Don Mueang and Suvarnabhumi. These groups are usually led by a tour guide waving a Chinese flag and they follow a strict itinerary as they go around Thailand. Majority of these tour groups, board a bus where they are transported outside of Bangkok. They then head to either Pattaya or Hua Hin. For companies and businesses, arriving in Bangkok is another story. Some of them are looking for Asoke office space for rent while others have already established their brand in the city.

Not all tourists are travelling to Thailand to see Bangkok because some catch another flight heading to either Phuket or Chiang Mai. The number of Chinese tourist in 2017 was expected to reach 9.5 million by the Ministry of Tourism. The number is higher by three million compared to the number of tourist in 2012.

Sansiri is one of the top Thai developers and according to their head of international business, Cobby Leathers, majority of the sales they are getting in Thailand is because of tourism. Sansiri was able to launch additional three China offices in 2018. Leathers said that Chinese buyers are mainly buying from top local markets such as Phuket, Chiang Mai, Pattaya, Bangkok and Hua Hin.

This is despite the reports made by Juwai.com, a property portal for Chinese nationals, indicating that Chinese inquiries are now as strong as before because of the restrictions imposed by Beijing to limit the amount of money that is going out of China. Chinese investors, on the other hand, still prefer to invest in countries in Southeast Asia most especially Vietnam and Thailand.

For the second quarter, Thailand ranked even higher by taking the third for preferred market of Chinese buyers. The first spot is the United States and Australia took the second place. The continued interest of investors in Thailand made it possible for Asoke office space for rent to be filled in no time since the demand is still higher despite the ongoing construction of supply.

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