Thailand no longer a leader for Chinese real estate investors - Thailand Business Journal

Chinese real estate investors, previously major buyers of luxury apartments and apartments in Thailand, are cutting back on their investments due to the economic slowdown and the real estate crisis in China.

Traditional English-speaking countries such as Australia, Canada, the UK and the US have become more attractive to Chinese real estate buyers, surpassing Thailand in popularity.

Vietnam, unlike Thailand, is less dependent on Chinese investors and has seen steady investment from Chinese buyers in apartments, especially in major cities such as Hanoi and Ho Chi Minh City.

Thailand, previously ranked number one among Chinese buyers, has now dropped to fifth place, with Australia, Canada, the UK and the US taking the top spots.

Chinese buyers are now purchasing homes in Australia for their own use or for Australian citizenship.

"This year, Thailand is no longer the first destination for Chinese buyers as it used to be," Ansari said in an email. "Instead, it is ranked fifth, with the first four spots occupied by traditional English-speaking countries with prestigious education sectors."

Kashif Ansari, co-founder and CEO of Juwai IQI Group, quoted by VOA.

In recent years, Thailand has been a popular destination for Chinese investors looking to purchase residential real estate. According to a report by a real estate firm, Thailand was the most desirable country for Chinese buyers from 2018 to 2021.

China's economic problems, including high youth unemployment, declining exports and a real estate crisis, have raised fears of prolonged economic stagnation. As a result, Chinese buyers are hesitant to invest in Thailand and deals are now taking months to close. The long-term impact will depend on the actions of Chinese investors and how Southeast Asian countries manage the fallout.