news

More Chinese investors enter Thailand's real estate market

2024-08-13

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

According to the Economic and Commercial Office of the Chinese Embassy in Thailand, Lianhe Zaobao reported recently that more and more Chinese funds are pouring into Thailand to buy local real estate. Thailand's permanent visa-free policy for Chinese travelers, coupled with the lack of anti-Chinese sentiment in the local area, is one of the reasons for attracting the Chinese middle class to buy real estate. Thai consulting firm Property DNA pointed out that more and more companies that have received capital injections from Chinese investors have purchased real estate in major cities in Thailand, renting them out after purchase or reselling them later. The Thai government is preparing to relax restrictions on foreigners' property purchases, which will further attract more foreign funds to flow into the Thai real estate market. The proposed changes include extending the period for foreigners to lease land from 50 years to 99 years; and changing the proportion of units owned by foreigners in any apartment project from a maximum of 49% to 75%. It is estimated that Chinese companies have invested more than 100 billion baht in major cities in Thailand in the past 15 years.

According to data from the Thai Ministry of Commerce, Chinese companies invested 382 billion baht in Thailand in the first half of this year, accounting for 9.5% of the total foreign direct investment. This makes China the third largest source of foreign investment in Thailand, after Japan (993.3 billion baht, 24.7%) and Singapore (473.5 billion baht, 11.8%). The five major industries in Thailand where Chinese capital has settled are automobiles and parts, tires and inner tubes, non-owner-occupied real estate, steel manufacturing, and power generation and distribution.

Report/Feedback