Developer responds to the surge in Chinese opting for property in Thailand.
Property in Thailand has caught the eyes from international investors for sometime now. However the Mainland Chinese appear to be upping their game. Known for their love of property overseas, the Chinese are taking this one step further in the Kingdom due to price hikes on home turf making property in China less affordable. Many are investing in Thailand due to the attractive gains to be made such as through a good rental yield.
Thailand’s attractive price point is one reason for this surge in enquiries and investment. However the country also boasts attractive cultural and landscape qualities too. Resulting in the Chinese commonly buy property in Bangkok, Phuket and Pattaya. This has marked the country firm on the Chinese tourist map helping to add to the increasing tourist numbers. In fact it is estimated that the Chinese will account for one third of the anticipated 35 million tourists in 2017 alone.
Sansiri, Thai based property developer, has once again identified an opportunity in response to this growth. The astute developer is often quick to respond to latest trends in a bid to boast company profits. For example by either aiming specifically at the Japanese market or building a project suited exactly to the area’s demographics such as 98 Wireless where record breaking sales were achieved.
Now Sansiri has turned its sights to China. Opening a further three offices in the country to supplement its existing one in Beijing. The firm has seen an consistent increase in Chinese investors citing that they made up 30 percent of all purchasers in 2016. An increase of 15 percent from 2014. Head of international business at Sansiri, Cobby Leathers, comments that China is nipping at the heels of Hong Kong investors who have traditionally been the strongest investors in Thailand for sometime.