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Chinese move their purchase power away from Bangkok condo market

Chinese move their purchase power away from Bangkok condo market

Buyers from mainland China are slowing their condo purchases in Bangkok because of the strong baht, overpriced units and a supply glut. Simon Lee, co-founder and president of property brokerage Angel Real Estate Consultancy Co, said overall sales volume of Bangkok condos bought by Chinese buyers will shrink by half this year. "Chinese purchases have been sluggish since late last year after the baht...

Yuan weakness and Chinese condo buyers in Thailand

The exchange rate's impact on buyer confidence adds to concerns resulting from the tourism slowdown. Chinese buyers now make up the largest share of foreign purchasers in the Thai condominium market. In addition to the fast-growing segment from mainland China, other Chinese buyers come from Taiwan, Hong Kong, Singapore and Malaysia. This has prompted many developers in Thailand, especially listed ones, to...

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