(Bangkok Comprehensive News) Thai real estate advisory company said that more and more Chinese funds have poured into Thailand to buy local real estate.Observer analyzes that Thailand provides permanent visa -free policies for Chinese passengers, and the lack of Chinese exclusion in the local area is one of the reasons that attract Chinese middle class to home property.
Thai National News reported that the consultant company Property DNA pointed out that more and more companies that have obtained Chinese investors' injection of Chinese investors purchased real estate in major Thai cities. After starting, they were rented or sold in the future.
It also said that the Thai government is preparing to relax the restrictions on production of foreigners, and it will further attract more foreign funds into the Thai real estate market.The proposed modification measures include extended the period for foreigners to lease land from 50 years to 99 years; the proportion of units owned by foreigners in any apartment project has changed from up to 49%to 75%.
Property DNA General Manager Sulace said: "These companies based on Thai law or joint venture with Thai partners use investment funds from China to buy apartments and land in large cities.These real estate are sold to the rich or foreigners in Thailand, especially in Bangkok, Pattaya and Phuket.
It is estimated that Chinese companies have invested more than 100 billion baht (about S $ 3.7 billion) in Thailand in the past 15 years.
Surache pointed out that if the measures to relax foreigners' production restrictions will be approved, it will attract more Chinese investors to enter the Thai real estate industry.
He said: "Thai real estate developers predict new measures for new measures will help to increase the subscription rate of foreign buyers, but those who sweep away new houses will be operated by those who are operated by Thai agents or joint investors in Thai.Companies.
The Chinese became the largest foreign buyer in Thailand last year
Bloomberg reported that data from the Thai Real Estate Information Center (REIC) showed that Thailand sold a total of 14,449 apartments in 2023, of which 6,614 apartments were purchased by Chinese buyers, accounting for almost 46% of the total number of apartments in Thailand.Become the largest foreign buyer in Thailand's real estate, and also pushed the demand for local real estate to the level before the crown disease.
Zhang Hongfeng, general manager of HENDERSON Property, joint venture, told VOA in the United States that although the Thai government must comply with the "49/51 principle" in order to protect the rights and interests of Thai people to buy a house.That is to say, foreigners can only buy 49%of the overall property rights of apartments and cannot obtain nationality, but he emphasized that under the current open visa exemption from China and no local discharge in China, these factors are for Chinese buyers to Chinese buyers.It does not constitute resistance.
On the other hand, according to data from the Thailand's Ministry of Commerce, Chinese companies invested 382 billion baht (about S $ 14.3 billion) to Thailand in the first half of this year, accounting for 9.48%of the total foreign direct investment.This makes China the third largest source of foreign capital in Thailand, ranking in Japan (993.3 billion baht or S $ 37.1 billion, 24.65%) and Singapore (473.5 billion baht or S $ 17.7 billion, 11.75%).
The five major industries in Thailand settled in the Chinese -funded Thailand are in turn (19.47 billion baht or S $ 700 million), tires and inner tires (16.86 billion baht or S $ 600 million), non -self -residential real estate (14.62 billion baht or or.550 million yuan), steel manufacturing (13.65 billion baht or S $ 500 million), power generation and power distribution (12.93 billion baht or S $ 480 million).
