Thailand was the most popular outbound destination for Chinese travellers during the Labour Day holiday. Read more at straitstimes.com.
BANGKOK - Shanghai resident Daniel Bian drank in the sweeping views over the Thai capital as he lay on a deckchair beside a swimming pool on the 19th floor of a luxury condominium.
Thailand was the most popular outbound destination for Chinese travellers during the May labour day holiday, data from website Trip.com showed, followed by Japan and South Korea. “There is definitely demand from China for properties in Thailand,” said Mr Mesak Chunharakchot, the president of the Thai Real Estate Association.
Nearly 270,000 Chinese tourists visited Thailand in March, government data shows, a three-year high, though well below the figure of 985,227 in March 2019, before the pandemic took hold. Despite Thai rules that limit foreign ownership to just 49 per cent of the units in any condominium development, prospective buyers are pouring in, bringing business to real estate agents who target Chinese buyers.
“The budget can only buy a simple home in China’s first-tier cities, and its location might not be good,” Mr Zhu said.
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